The Green Sheet Online Edition
May 14, 2012 • Issue 12:05:01
Loyalty packs a punch
When loyalty program provider vPromos Inc. demonstrated the newest version of its vPunch Rewards program at the 2012 Electronic Transactions Association Annual Meeting & Expo, the improvements were noticeable. Before the show, the company had tested the card-linked loyalty rewards program with merchants near its Dallas headquarters starting in early 2011.
Initially, customers were required to visit vPromo's website to join merchant rewards programs. Not any more. With the company's patent-pending Registration at POS enhancement, customers can now enroll at the merchant POS by simply providing a mobile text number. Once the number is entered into the payment terminal, a short-message-service text message is deployed, enabling customers to opt-in and complete the registration process.
Jeff Mankoff, founder and Chief Executive Officer of vPromos, stated, "vPunch Rewards is a merchant-centric program. Our clients are interested in building loyalty and rewarding their repeat customers, not the customers of a daily deal site or some other aggregator of online discounts. We've made loyalty marketing super simple for both merchants and consumers."
Since the online program is directly linked to customers' payment cards, no additional setup or punch cards are required on the part of merchants. All subsequent credit or debit card payments made with a registered card are tracked and automatically earn credit toward a vPunch Reward, which can reportedly be redeemed directly at the merchant's POS in real-time.
Customers must register at participating merchants to access individual rewards programs. The service allows merchants to set the rules, such as minimum purchase amount, number of punches needed to earn rewards and vPunch Reward amount.
"Some merchants using the Registration at POS feature are reporting membership growth of more than 700 percent," said Robert Greenberg, Chief Marketing Officer at vPromos. "We are confident that our card-linked loyalty rewards program is the simplest and most innovative solution out there, and the ability to register new members right at the point of sale is a real game changer."
According to vPromos, the program is intended for merchants who would like to offer a customized loyalty program without having to invest in additional equipment or loyalty rewards cards. Mankoff added that the company is committed to bringing cost-effective rewards programs to its clients and strategic partners. Other products and services in the vPromos suite include vGift, voupon, social media marketing and dashboard reporting.
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