reward Archives - Serious Startups

Cincinnati Startup: CoupSmart Turns Fans Into Revenue: INTERVIEW

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.

NY Startup: LocalBonus Offers Extremely Simple Loyalty Rewards Program

After this years South By Southwest we quickly predicted that the “social discovery” space would become a thing of the past and that “Loyalty Rewards” would take it’s spot as the startup du jour. Now that loyalty and rewards is filling up faster than you can say Groupon, what’s going to set these startups apart is effect on the merchant and ease of use for the user.

NY startup LcoalBonus has both of those factors in check. LocalBonus is one of the easiest reward programs to set up. You simply add an existing credit card account to your LocalBonus account and you’re ready to earn rewards. In fact you can set up all of your credit cards if you choose.

LocalBonus plans a national rollout. They started out in New York and expanded last month into Seattle, Portland, Sacremento and Denver. LocalBonus founder and CEO Derek Webster told us that there are over 800 merchants in the program already.

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Interview: Chicago Startup Toodalu Has It All Figured Out, Reward With Cash, Donate To Charity

Great things happen in Chicago, despite what anybody else says. Toodalu is one of those great things. Founded by three friends that met in (dare I say) Chicago’s thriving tech scene, Todd O’Hara, Ravi Singh and Chris Lubinski, they set out to provide another mobile startup that caters to the reward/engagement/loyalty space but they’ve hit something on the head with greatness, and that is CASH IS KING.

With the new Toodalu app when you shop at a participating merchant you get 5% cash back on your credit card and another 5% donated to charity. Which charity? Whichever one you want. We know that Target lets you donate to a ton of charities but with Toodalu you don’t need to have your charity on a list, it just needs to be a real charity.

“The user can choose ANY non-profit to give to! That’s the key element that excites our users and merchants. In addition, a user can select up to one hundred different charitable organizations to support and select how, exactly, they wish to distribute the giving by allocating percentages.” O’Hara told us in an interview.

Not only is Toodalu of epic greatness because they’ve already figured out the reward and the charity but it’s simple. We got a chance to catch up with O’Hara, who by the way Trevor was up at 10pm answering questions for us, way past the 5pm Pando curfew. The first thing we wanted to know is how did you stumble upon such a great idea:

Toodalu is a new breed of loyalty rewards. Just link any credit or debit card to your Toodalu account and when you use that card any partner location, 5% of every purchase is donated to the charity of your choice. We are proud to help charities raise boat loads of money while attaching purpose to the purchases of our users. The idea was born from the question,”how can we increase participation rates for charitable giving?”

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