London-based micromobility startup Forest has integrated a new marketplace into its app to directly connect riders with deals from corporate partners.
The ‘Partner Perks’ portal allows Forest’s corporate partners to showcase their products, services and discounts in one centralised location.
Last summer Forest broke even thanks in large part to its unique advertising business model which generates revenue and provides Forest users with free minutes. This has helped make it one of the most affordable shared dockless e-bike schemes in London.
Forest has been drawing on the fact that its users are spending more time on the app and engaging with partner content. According to the operator, 40% of users are choosing to watch partner videos to earn more free riding minutes.
“We reached profitability in September and October last year and it’s fair to say that having a diversified revenue stream in the shared micromobility space is greatly beneficial,” Forest Head of Commercial Jamie Richards told Zag Daily.
“Margins can be super tight, so it’s important to be creative and think about how you can provide value to users in a range of ways.
“For us at Forest the marketplace allows us to pass on cost savings to users, whilst corporate partners get access to an engaged, environmentally minded community of Londoners to market their products to. And thanks to these partners, Forest riders get access to partner deals and lower cost of rides relative to our sector peers. A win for everyone.”
The partnership offering has expanded since Forest’s launch in 2021, with ‘Journey Ads’ offered in 2021, ‘Video Ads’ in 2022 and ‘Map Ads’ in 2023. Journey Ads send users a message prior to their ride, Video Ads reward users who watch partner videos with free minutes of riding, and Map Ads allow companies to integrate their logo into the Forest map while highlighting points of interest along the route.
The Partner Perks page launches today with Forest’s 14 inaugural partners, including HelloFresh, Bloom & Wild, and allplants.
