In Vancouver, BC, one little coffee shop in the Mount Pleasant neighborhood is enjoying a 10x increase in customer loyalty. And one little company is helping them achieve it.
RewardLoop is a mobile loyalty platform that rewards mobile device customers based on what they actually spend. The company has effectively put an end to the scrunched up, weathered punch loyalty card in your wallet, and replace it with something a whole lot cooler. "RewardLoop has developed a simple, cost-effective way for local merchants to take advantage of enterprise-grade CRM and mobile loyalty solutions," said Scott Jacobson, Managing Director at Madrona Venture Group.
Milano Coffee, a boutique coffee roaster in Vancouver, is one of the platform's early adopters. The RewardLoop solution uses buying behavior data both to enable customer rewards, as well as to provide Milano with deep insight into the purchasing behaviour of their customer base. Explains RewardLoop co-founder and CEO, Jeff LaPorte, "We can do this because we have developed a universal POS adaptor that allows us to collect complete information about every retail transaction at merchants on our network. This includes what items the customer bought and how much they spent."
While terrific for leveling the retail playing field for the SMBs, customers are loving the technology, too. Just three months after implementing the solution, 23% of Milano Coffee's daily transactions are being made by customers enrolled in their loyalty program. Highlights of the solution include:
- Near Field Communications (NFC) enabled for smartphone mobile payments
- Easy access to transactional data which helps merchants understand exactly what their customers are buying and optimize their loyalty programs accordingly
- Enabling merchants of all sizes access to a level deep, granular data once enjoyed only by large chains.
- A low-cost, universal POS adaptor that's already compatible with 85% of POS platforms that use countertop receipt printers
Photo credit: Lesley K, Flickr, Creative Commons