Mountain View, California (EastBayDaily) — RewardMe, a tech-startup based out of Mountain View, CA, is a revolutionary customer loyalty platform that takes the power that Amazon has used to revolutionize the e-commerce space and brings it to the brick-and-mortar market.
"E-commerce sites track customer purchase patterns and shopping behaviors, allowing them to send personalized messages to customers increasing retention and average order value, while decreasing shopping cart abandonment." describes Jun Loayza, Co-Founder of RewardMe. "This is the type of game-changing technology that we bring to restaurants and retailers."
Merchants use RewardMe to capture customer information at the point of sale. Customers enter their mobile numbers on an iPad screen during checkout to join the merchant's custom branded rewards program using the RewardMe platform, allowing RewardMe to track dollars spent, items purchased, and timestamp. This information provides businesses with actionable intelligence upon which they can create targeted marketing campaigns to influence customer behavior.
"Absolutely no other company in the industry has the technology that we have." says Jun. "Take a look at every other loyalty app out there – they all reward based on visits. We're the only one that can reward based on dollars spent, which is vital for a merchant."
RewardMe released a 5-month long case study with a fast casual restaurant client to showcase their unbelievable results. In the case study, RewardMe proves a measurable 2% revenue increase for their client. Not only is this number impressive, but it completely shatters the traditional fallacy that customer rewards programs cannot measure ROI.
Equally impressive are their numbers on customer acquisition. While the industry average for customer acquisition for a loyalty program is under 5%, RewardMe demonstrated a remarkable 20.2% customer acquisition rate in their case study, and has proven acquisition rates as high as 37.5% with other clients. RewardMe published a blog post comparing statistics with Belly, a recently funded startup based out of Chicago. In the comparison, RewardMe demonstrates a customer sign-up rate 31x greater than that of Belly, and a customer participation rate 16x greater than that of Belly.
"It makes perfect sense really. Mobile apps such as Belly require a customer to use a smartphone to download a mobile app while in the store – a practice in which very few customers want to participate in." says Jun. "Because we utilize a mobile number as the customer ID, ALL customers (tech savvy or non-tech savvy) can join the rewards program. We used the "mom" test when creating our product – if our moms could use our product, then we knew we created something for the masses."
RewardMe also utilizes a market penetration strategy drastically different from all the rest. While dozens of startups are chasing after local mom-and-pop shops, RewardMe is targeting large franchises and chains out of the gate, as well as providing their technology to small and medium-sized businesses. "A foot-soldier sales force is expensive and inefficient. Do these startups really expect to expand across the US through door-to-door sales?" says Jun. "We understand that consolidation in the market will not happen through adoption by mom-and-pop stores; instead, the company that wins the franchise market will lead the customer loyalty industry because mom-and-pop stores will follow and use the technology that market leaders use."
The key difference and the competitive advantage that RewardMe has is their ability to measure and prove ROI. A recent text-message marketing campaign demonstrated the true power of this approach. During the day of the campaign, their client's revenue increased by 66% and transactions increased by 182%!
"We understand that corporations ultimately care about a measurable Return On Investment. Once companies understand the unique ability of our product to provide this, it's a no brainer for them to choose us as their loyalty platform." concludes Jun.
For more information about RewardMe, reach out to Jun directly at Jun(at)RewardMe(dot)com or 650-276-0591.