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18 OCTOBER 2018

 

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Monday, 15 January 2018 09:31

Company profile: For Good Causes

 

 

 

 

 

 

 

 

 

People do extraordinary things for the causes they love. Run marathons. Bake cakes for a local fete. Sit for hours in a bath of beans. Doing ‘our bit’ makes us feel great. Spreading the love not only helps us as individuals feel self worth, it also makes great business sense.

At For Good Causes, we want to help everyone, everyday, support the things they care about. So we came up with a new way of doing it; by helping people convert their loyalty points, miles or cashback into financial donations to the charity of their choice.

Loyalty programmes are designed to drive customer engagement. Giving customers the chance to support the things with which they have the deepest connection will connect them more than ever – encouraging members to be active. As for customers, that’s better than beans; it’s giving them the chance to make a difference to their charities every day.

We’re entering a new era where customer loyalty and social conscience meets to create something amazingly powerful for all. A customer-centric approach to CSR. And a strong return on investment to boot.

Points can save lives. Air miles can improve communities. Cash-back can promote self-worth. All at no cost to customers, so their everyday choices can help their charities access the resources they need to achieve amazing things.

If you run a loyalty scheme, talk to us about adding For Good Causes as a redemption option. Engage with your customers on a completely different level. And watch your social impact increase.

We’re a start-up, for profit with purpose Social Enterprise.

 
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Monday, 15 January 2018 09:27

Company profile: Givex

 

 

 

 

Givex offers omnichannel loyalty, gift card, stored value ticketing and EPOS solutions, which drive sales for our clients, help them better understand, reward and entice their customers and ultimately make better-informed business decisions.

Givex loyalty programs help brands collect customer data, mine it to identify their best customers and are customised to drive customer engagement and enduring loyalty.

With over 16 billion transactions processed worldwide our goal is to empower our merchants with knowledge and knowhow by delivering high quality customer engagement solutions on time. Whether it’s free 24/7 support or hassle-free upgrades, our clients know that they can count on us to provide everything necessary for their success.

 
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Wednesday, 08 November 2017 00:00
Company profile: Magnuson
Hi Loyalty Magazine Readers, We're Magnuson Worldwide




What's a Magnuson?
Well it’s a who, actually. We’re a hotel conversion brand that was founded over a decade ago by Thomas and Melissa Magnuson. We’re a family business that was started as ‘the low-cost alternative to franchising’ and has quickly become the world’s largest independent hotel group as a result. Today, the consumer-facing brand Magnuson Hotels is the fastest growing hotel brand in history- adding more new hotels in the last 10 years than 8 of the top 10 chains combined.
Read full article here




Company profile: Currency Alliance
Exchanging ideas on extending loyalty collaboration






In conversation with Charles (Chuck) Ehredt, CEO and co-founder, Currency Alliance


Loyalty Magazine: Explain what Currency Alliance is
Charles Ehredt: Currency Alliance operates a technology platform to make it much easier for merchants and travel suppliers to connect with business partners to issue or redeem the same loyalty currencies, as well as enable the exchange of loyalty currencies.  We are the ecosystem that creates more liquidity with loyalty point currencies so they are more appealing and attract engagement from customers. In this way we aim to reinvigorate participation from both frequent and less frequent customers in loyalty programmes.
Read full article here



Company profile: Tranxactor
Bringing a proven loyalty and gift solution to European retailers. In conversation with John Norrie, founder and CEO of Tranxactor










Loyalty Magazine: How would you describe your company?

John Norrie: We are a solution provider for retail covering loyalty, CRM and gift. Our platform is an enabling technology to deliver digital marketing solutions to the retail market.
Read full article here



Company profile: For Good Causes

 

 

 

 

 

People do extraordinary things for the causes they love. Run marathons. Bake cakes for a local fete. Sit for hours in a bath of beans. Doing ‘our bit’ makes us feel great. Spreading the love not only helps us as individuals feel self worth, it also makes great business sense.

At For Good Causes, we want to help everyone, everyday, support the things they care about.

Read full article here



Company profile: Givex



Givex offers omnichannel loyalty, gift card, stored value ticketing and EPOS solutions, which drive sales for our clients, help them better understand, reward and entice their customers and ultimately make better-informed business decisions.

Read full article here



Company profile: IRi







IRI is a leading provider of big data, predictive analytics and forward-looking insights that help FMCG, OTC health care organizations, retailers and media companies grow their businesses. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand cloud-based technology platform, IRI helps to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers and deliver market-leading growth. A confluence of major external events—a revolution in consumer buying, big data coming into its own, advanced analytics and automated consumer activation—is leading to a seismic shift in drivers of success in all industries. Ensure your business can leverage data at www.iriworldwide.com.

Read full article here




Company profile: Loyalty Prime





The Leading Loyalty Platform Provider – Making the Art of Loyalty “A Walk in The Park”

Loyalty Prime’s multi-award-winning Loyalty Program Platform ‘Prime Cloud’ enables companies to easily set-up & manage best-in-class omnichannel Loyalty Programs. Our world-leading Software-as-a-Service Platform is complemented by our proven Loyalty Scheme Design Methodology and extensive loyalty consulting expertise. With this winning combination we have empowered numerous loyalty programs to produce outstanding results in terms of:

-        understanding & effectively driving customer behaviour

-        successful churn reduction & customer retention

-        remarkable Marketing ROI improvement & spend optimization

-        overall business growth & improved profitability

Join global premium brands in their choice for the leading Loyalty Platform in the market – and rest impressed by the results we deliver.


Read full article here


 





Information, brand building, marketing - a connected and irresistible proposition for anybody and any company working in loyalty.

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Wednesday, 01 November 2017 00:00
Company profile: Currency Alliance
Exchanging ideas on extending loyalty collaboration

In conversation with Charles (Chuck) Ehredt, CEO and co-founder, Currency Alliance


Loyalty Magazine: Explain what Currency Alliance is
Charles Ehredt: Currency Alliance operates a technology platform to make it much easier for merchants and travel suppliers to connect with business partners to issue or redeem the same loyalty currencies, as well as enable the exchange of loyalty currencies.  We are the ecosystem that creates more liquidity with loyalty point currencies so they are more appealing and attract engagement from customers. In this way we aim to reinvigorate participation from both frequent and less frequent customers in loyalty programmes.

How does it work?
Currency Alliance operates a highly flexible and robust platform with specific functionality for the  management of loyalty programmes. We offer a loyalty programme management system and a global digital currency for those without a currency or system they like, but our core business and strongest value proposition is to enable cloud-based loyalty currency management and low cost loyalty transactions between authorised partners. Some partners have integrated in as little as 3 days.

Why is a system such as Currency Alliance necessary?
Markets must evolve with maturing technology and changing customer behaviour, but not every market has kept pace. This is especially so for customer loyalty. The thousands of programmes a customer can choose from look fairly similar. Rather than producing mass adoption, the proliferation of programmes is leading to increasing customer apathy where all parties are losing. We believe one of the next major evolutions in retail will take place in loyalty because various technologies are converging to deliver tailored customer service – but if 70% of customers are not  engaged, the brand will miss most of the benefits from this wave of innovation.

What are your views on customer loyalty as it operates today?
I don’t think giving points or miles actually generates much loyalty. At best, it creates a degree of ‘lock-in’. Offering points is often expected in exchange for giving up personal data, but more importantly, it is the opportunity to start a dialogue through which a brand can try to build affinity. Real loyalty is built through providing a consistently good experience and delivering overall value. Points have a cost (liability) to the programme operator, but only have perceived value to the customer if they can do something interesting with them. Too often, the customer has too few points to do anything interesting.  We help change that.


How can Currency Alliance improve this situation? Surely pooling rewards lessens the loyalty effect?
Not at all. If a customer knows that they can achieve a redemption of their choice, then they are more likely to collect, save and value the points in the first place. If a customer becomes disenfranchised, and doesn’t even bother to identify themselves at the point of sale, then companies can’t learn about the customer or their preferences. Participation levels are surprisingly low.  Enabling greater liquidity can double or triple customer participation.

What about online commerce?
Amazon will eat the lunch of any company that is not learning from data. We can help with this understanding. And coalitions, as we have known them, are not the answer. The coalition operator is taking too much value from the ecosystem and is often dominated by one partner. If you look on their balance sheet, the value they are giving to points is considerably less than what they are charging to partners in the network.  The customer should get this value, not the intermediary.

How does your Currency Exchange marketplace operate?
It is the companies exchanging the points that determine the value of their loyalty currency. For example, you might allow a customer to exchange your currency at the full economic value for a charitable contribution, but want to earn a 20% margin on exchanges with ‘friendly’ partners, or a 50%-80% margin on exchanges with competitors. You can block any currency from being exchanged with yours and you might choose to accept exchanges into your currency from many programmes, but severely limit the programmes into which your currency can be exchanged.  Our partners retain full control, and can get liability off their balance sheet at a profitable cost.

Won’t most companies, and especially the CFO, decide that it is better economics if points are expired, rather than exchanged?
It is easy for the CFO to believe that breakage is a good thing, but it is a massive de-incentive to expire points. Customers hate it. Additionally, new accounting standards, namely ASC 606 in the US and IFRS 15 will lead to major changes in accounting practices for loyalty programmes. The CFO and CMO will become more aligned.  I am also convinced that breakage depresses overall programme ROI because the majority of customers do not bother participating.

How near are you to going live with your platform?

We launched the business in March 2016 after a long period of preparation.  Clients have been integrating since October 2016.  We now have a system that is mature and very intuitive. Our initial plan was to have just one currency – comcoin – but we realised very quickly that most companies would prefer a multi-currency system to manage their own currency. So we have adapted it so they can benefit from our technology while managing partner networks with their currency.

Are you planning to handle customer data, as well as the points transactions?
I don’t believe a big retailer will use our system for their data analytics, but small and medium sized companies who can’t afford sophisticated analytics and marketing systems could benefit hugely from our SaaS-based software. Establishing and maintaining customer loyalty is all about the delivery of personalised touchpoints.

What are the Currency Alliance charges?
We are transparent about these. We charge a 2% fee to issue or exchange loyalty currencies, but nothing to the customer or during redemptions. There are no charges for implementation and maintenance – or monthly minimums.

Will blockchain play a part in your platform?
Blockchain will be transformative, like HTTP or the internet itself. It will have a massive impact in the next 5 to 10 years. But it is still in the ‘hype’ phase. The banks are in front with their learning, and are beginning to work out where the standards will be needed, but currently there are 100s of side chains that are not compatible. To stay up to date with the changes you would need to be refactoring code every few months. We are copying transaction data onto a blockchain periodically to avoid high operating costs, but we will provide a bridge to our clients so they can embrace blockchain when they are ready, and more importantly, when there are trading partners they can do business with. We are talking to all the major players and alliances, and intend to be one of the leaders as blockchain matures.

Can you talk through your security measures?

Our philosophy is that customers and merchants own their data, so no-one else should have access to it without permission (like GDPR). Our system architecture consists of three layers. The top, public layer is for API and Portal access to the platform, then below that sits a middle layer that fully separates the encrypted data from public access – so only our internal algorithms can access the data. We are completely compliant with current data regulations and those soon to be imposed.

What reservations and objections are you hearing about your solution?

The first was the currency, but we have fixed this by becoming multi-currency. We are facilitating a natural evolution of the market by enabling greater liquidity with loyalty currencies – in order to attract more engagement from the mass of people who are currently not active.

Some people say: “There is no way in hell I am going to share data” – but you only learn when a customer buys from you. We can help assemble rich customer profiles based on everywhere they shop.

Won’t some companies argue that they should only be focused on high spenders?
I had over 100,000 points expired the other day by a major hotel chain because I was two days late in using them. This was a completely dis-enfranchising experience. It is not just low-level customers that are being expired. A company can learn a great deal from those who are lower spenders. Knowing who ALL your customers are is a desirable goal.  And, many of those low spenders are actually high spenders (with the competition).

How big a business could this be?
We estimate that there are US$500bn in loyalty points sloshing about in the market. About half of this value is held by mid- and long-tail customers who will struggle to redeem. This is a massive missed opportunity in customer interaction that we believe we can put right by helping our clients make their existing programmes and loyalty currencies much more valuable.

This e-mail address is being protected from spambots. You need JavaScript enabled to view it

This article was first published in Loyalty Magazine in November 2017.

 
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Wednesday, 14 June 2017 11:19
Company profile: Tranxactor
Bringing a proven loyalty and gift solution to European retailers
. In conversation with John Norrie, founder and CEO of Tranxactor

Loyalty Magazine: How would you describe your company?
John Norrie (right): We are a solution provider for retail covering loyalty, CRM and gift. Our platform is an enabling technology to deliver digital marketing solutions to the retail market.


Where did you begin?
I founded the company in New Zealand in 2002. My background was in the advertising industry working with major retailers. After leaving the industry in 1991, I designed and developed a processing engine to take sales data from retail point-of-sale to monitor marketing effectiveness.

To make the data more meaningful, I needed a way to link what people were buying and how they responded to promotions. So I overlaid a loyalty programme to identify the customers and deliver targeted offers to incentivise repeat purchase.


What makes your company different to other loyalty service providers?
We have a single platform to provide a range of services. Thor is a hybrid processing platform that consists of a financial processor with a complete set of admin tools to manage all aspects of a programme, including campaigns to drive multi-channel communications to customers. It is a comprehensive platform with many delivery options under one umbrella. These include gift and loyalty.

Who are your existing clients?

We have a range of customers covering a broad spectrum of retail from shopping malls to specialty retail and QSR [quick service restaurants].  The platform works particularly well for franchise organi
sations because it delivers an end-to-end solution, from design and supply marketing communications through to transaction processing and financial settlement.

What is special about your processing engine?

It is easily configurable to provide flexibility in the type and flavour of programmes we can offer, and being a centralised cloud-based system, it is very easy to engage with clients and get them into market fast.

What are your plans for Europe?
We are trying to increase our visibility here as previously we had been focusing our resources on providing the platform for the Subway SUBCARD programme, which we now service in five countries. One of our underlying strengths is our ability to fully integrate with POS systems directly, handling the data down to product item level in real-time across multiple environments.

Explain some more about how you handle the data and comply with data regulations?

Tranxactor operates on the principle that the data collected belongs to the client and not to us. We never on-sell client data. We just provide the processing platform. We have operated in Germany for many years, which has very tough rules so we are used to being compliant.

Is the loyalty business changing?
Yes. The principles of loyalty are fundamental but the bricks and mortar retail market is changing for many reasons: The emerging digital environment is critical but more important than that is the challenge from the online retail environment.

Can you describe a typical customer journey and how you interact?

The online retailer knows the customer. He knows what they like, how often they visit and what they come to buy. It is therefore possible to market to them continuously with suggestive selling. The challenge for bricks and mortar organisations is to replicate this and add additional value. That is the big challenge. The ability to replicate the online experience and bring it into the bricks and mortar world is crucial to success. It is a case of joining the dots and of connecting the whole range of touchpoints and experiences for the customer.

Tranxactor can connect with almost any environment in real-time and deliver to multiple channels concurrently. This includes desktop, mobile and in-store and enables us to provide a single view of the customer.

Is it a challenge to do business in different markets?
It is a challenge, but we operate a single platform across all our markets, tailoring to the language and environment. Of course, it is not feasible to have a marketing activity common to all regions, so we can segment marketing activities to a market or geographic region, down to a single store if necessary – whatever meets the client’s requirements.

You have already said you are expanding your business in Europe. What are your next goals and challenges?
We intend to build a good base in Europe and the UK, and leverage off what we currently deliver to existing retailers. Our clients are 100% retail and we believe we can add value to both bricks and mortar and online. That is our interest. We realise we are new kids on the block. Notwithstanding that, we have over 15 years’ experience in the industry and already a strong and tested presence with Subway in this market. We know there are many established service providers, but we are throwing our hat into the ring to offer our expertise and solutions. We have experience, and a proven platform. We want to help companies build their businesses using our Thor platform.
 
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