Loyalty, rewards, couponing, it’s definitely a crowded space. Cincinnati startup CoupSmart says that it’s only crowded from indirect competitors. While many startups in the loyalty, rewards and couponing space offer help with engagement on social networks, CoupSmart says they deliver fans into revenue on and offline time and time again.
The startup, led by founder and CEO Blake Shipley says they’re all about the ROI. They don’t waste time building un-measurable campaigns or throwing coupons and offers around like water. Shipley knows how ineffective an actual coupon can be when looking for actual customer data.
In our interview below Shipley talks about how coupons are sorted by hand time and time again before they’re even shipped off for redemption. He experienced this first hand when he worked as an internal auditor at The Kroger Company’s Cincinnati headquarters. That’s what sparked his idea to create a better coupon platform.
We don’t need to tell you how crowded the space is and that everyone in the loyalty, reward and coupon space thinks they have the next biggest thing, but focusing on actual ROI will definitely perk the ears of hopeful clients.
One of the biggest complaints about loss leader Groupon is their ability to convert one time users into repeat users and effectively increase the businesses ROI. Many companies that have gone with the Groupon and Living Social model have lost their asses in margin just to get new customers in the door one time.
Whether it’s rewards programs, coupon programs or loyalty programs, someone is going to eventually break through the space with a platform or product that actual saves customers a decent amount of money, gets customers returning for more visits, and gets business owners the information they need.
Is CoupSmart that startup? Check out our interview below.