Afterpay, the leader in “Buy Now, Pay Later” payments, announced the debut of Afterpay Ads, a new suite of advertising products to help brands reach, acquire and activate high intent, loyal shoppers across the Afterpay ecosystem.
The new suite is built for brands who are focused on growing their base of Gen Z and Millennial shoppers and want to accelerate customer engagement and business growth.
With Afterpay Ads, brands can place featured ads across the Afterpay app and amplify merchant promotions, products and offers on a pay-for-performance model. Brands can do this by choosing the products they want to promote via sponsored listing formats, such as deals, products and collections, and pay only when a shopper engages with the ad. Early results with advertisers show a 20% lift in sales on average when brands choose to promote their products within the Afterpay app.
The Afterpay platform is one of the most powerful marketing engines for brands - generating an average of one million referrals per day globally from the Afterpay Shop Directory, according to Afterpay results announced in Q4 2012. Approximately 55% of these referrals come from the Afterpay app, which is consistently in the top 20 most downloaded shopping apps.
Mark Teperson, Chief Strategy Officer at Afterpay, said: