Honey is a browser extension which collates the Internet’s best coupons, voucher, and discount codes. Speaking in the Publisher Innovation Session at DealMaker London 2019 on 3rd April, we caught up with Alex Mooney, Senior Director of Partnerships at Honey, to find out more about Honey, their new features and developments, and what we can expect from them in the future.
Can you give us some background and an overview of Honey?
Honey was founded in 2012 with the mission to streamline the online shopping experience. For consumers, the focus was to turn inefficiency into time while saving them money along the way. For partners, this meant creating a unique end-to-end shopping platform that consumers trust and visit, that allows for affordable new user acquisition and high-level targeting.
Our first core product was the browser extension, which applies coupon codes to a customer’s check-out without them leaving a retailers site. Not only does this give users the confidence to transact, but it helps mitigate known comparison shopping for retailers. Today we have a multitude of products outside the browser extension that help retailers reach the right users at the right time and consumers check out with ease and certitude. We have grown immensely over the last 6 and a half years to 14M monthly active users from 200+ countries and generating partnerships with over 10K brands.
How do you work with advertisers in the affiliate space and how does your platform benefit them?
We work with retailers through affiliate networks to help them reach the right users at the right time, increasing sales, conversions and brand visibility. Honey’s products introduce these brands to a widely sought-after millennial audience, converting them quickly and efficiently. We help our brands to gain market share over competitors in a personalised and targeted consumer-focused approach.
We’re committed to providing our users and partners with a world-class experience, driving relevance at every touch point. For our users, this creates a highly relevant, frictionless shopping experience. For our partners, this allows them to connect with our users in an intuitive way, through every touch point of the consumer shopping journey.
Do you have any recent case studies of your success working with advertisers?
Our points-based loyalty program, Honey Gold, is wildly successful across the 13K brands we partner with. We’ve taken a gamified approach to traditional cash back, playing to our millennial audience while not devaluing our retailers. We’ve trained users to view this as a value-add that gives them the confidence to check out now, instead of waiting for double or triple cashback times. Honey Gold has proven to increase conversions by an average of ~30% and allows us to partner with high-end retail clients who are less promotional but still want to reach Honey members.
Are there any exciting developments in the pipeline for Honey that you’d like to share?
In the US we recently launched our app the Honey Smart Shopping Assistant – a search and discovery tool for users to find products from their favourite retailers. We’re also working on a range of other products to help our users shop seamlessly, however, and wherever they choose to shop.
Finally, what can advertisers expect to learn in your talk at DealMaker London next month?
We’re looking forward to showcasing the breadth of Honey’s product offerings that allow us to intelligently engage and target consumers in a way that builds confidence to convert, moving beyond simple search and discovery to a seamless end to end recommendation platform.
If you aren’t already attending DealMaker London 2019, be sure to register your attendance here. We look forward to seeing you there!