LOS ANGELES, CA--(Marketwired - Nov 21, 2016) - Spiral Toys, Inc. (OTCQB: STOY) has launched Wiggy™, the 1st Smart Piggybank to connect to its own Chore App, keeping kids motivated in a new and interactive way. Wiggy introduces children at an early age to valuable financial concepts of earning and saving money, by combining an interactive Bluetooth-enabled piggybank with an easy-to-use mobile app. Unlike traditional motivational apps, Wiggy responds to commands from the app, keeping kids continuously engaged to stay on track with everyday tasks or goals. With Wiggy, consumers will find many traditional features of chore apps, as well as some very unique ones: Wiggy will Speak, Light-Up, and Shake when tasks are added, rewards are earned, and the balance is updated, keeping children motivated to earn money by completing their tasks. Wiggy also lets you set goals to help your kids keep track of their savings towards items they want to purchase in the future.
Wiggy's launch in October 2016 has caught the attention of media outlets and social media reviewers. TechJoint, a Youtube channel that reviews new technology innovations, published Wiggy as part of the "5 Futuristic Toys Every Kid Must Have" https://www.youtube.com/watch?v=sCe2EXtbLbE&t=2s. This review alone had over 2 million views, and they chose the Wiggy commercial as the first product to showcase, creating excitement and momentum for the brand in the connected toy marketplace.
"As a business owner, it's clear that using digital and social media marketing to your advantage is critical," stated Mark Meyers, CEO of Spiral Toys. "We initially focused our media budget on Facebook Ad Campaigns. Incorporating data from past results, we ensured that a wide variety of ad testing was done, essentially optimizing the advertisement's impact based on consumer activity. Video ad campaigns have shown to be our most valuable marketing strategy, which has massively impacted our number of new customers and brand recognition. We are currently seeing a 4:1 Return on Marketing Investment (ROMI) for our digital media campaigns. We feel confident that we have an effective media strategy for Wiggy to continue to flourish this year."
Heading into the 2016 holiday season, Spiral has engaged in strategic partnerships to place Wiggy in particular online retail platforms that would widen the distribution opportunities in North America. "Spiral will continue its primary focus on digital media campaigns with an increase in media spend moving exponentially this month into the holidays. We are also leveraging distribution partners on a consignment basis to market Wiggy on online retail platforms such as Amazon.com, Groupon and Ebay," commented Joana Ubach, Head of Marketing and Sales. "As people today are spending more and more time on their desktops and mobile devices, solidifying our marketing efforts in the e-commerce space will help establish the Wiggy as a brand prior to a retail presence in 2017."
About Spiral Toys
Spiral Toys (OTCQB: STOY) is a California-based company, founded by a former senior executive of Disney and Sony, focused on developing and marketing products and mobile applications in the mobile-connected space. Spiral's mobile-connected entertainment platform connects physical items to today's top mobile devices through wireless technologies, creating a new kind of interactive user experience.
Spiral is developing applications based on its platform technology for several different verticals within the entertainment industry. Spiral collects revenue on both the physical purchase of goods and the sale of digital content through Apple's App Store and the Google Marketplace. The company also acts as co-developer with major entertainment studios. For more information, visit www.spiraltoys.com.
All statements in this press release that are not based on historical fact are "forward-looking statements." The terms "expects", "would", "will", "believes", and similar terms are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Spiral Toys in light of its experience and its perception of current conditions and expected future developments, as well as other factors that Spiral Toys believes are appropriate in the circumstances. Many factors could cause Spiral Toys' actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These risk factors and others relating to Spiral Toys that may cause actual results to differ are set forth in Spiral Toys' periodic filings with the U.S. Securities and Exchange Commission (available at www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on Spiral Toys' forward-looking statements. Spiral Toys has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.