On 13th June 2014, newly developed social media based loyalty reward program – Couponomy – announced that it will revolutionize loyalty reward programs in the coming years with its innovative approach. This is done by integrating social media, mobile phones and social sharing into earning loyalty reward points and coupons.
New concept represents a great vision that will, for sure, make loyalty reward programs fun, accessible and above all very flexible, according to technology analysts and commentators. It is designed simply to take advantage of social media platforms to run loyalty reward programs, states the company’s press release.
The single most important attribute of the new concept, according to technology analysts, is its ability to integrate social media interactions among friends with discount and loyalty points
- This is done in such a manner that friends online can share and accumulate points as a network.
- In addition to this, the ultimate aim is to create a network of loyal shoppers all of which have a chance to earn redeemable points based on the shopping action of any member of the network, says the company.
- The points can then be redeemed to coupons which in turn will prove very effective in saving on shopping expenses.
- The Couponomy becomes the first concept in loyalty programs that enables customers to earn points instantly.
- The app designed for smartphones also integrates geo-location technology to determine customer behavior regarding where they shop, eat or spend their money.
- Loyalty programs experts say that such information is crucial in targeting customers with custom offers specific to where they are and their general shopping behavior.
- The Couponomy is expected to increase the number of people signed up to loyalty reward programs by bringing the idea of fun and flexibility into the equation.
The next phase of the app’s development will largely be geared towards popularizing it to an emerging group of young consumers on social media, according to the CEO of Couponomy, Michael Ross. He confirmed that the company is in the process of securing funding to finalize the design of the app and its functionalities. In addition to this, the outspoken CEO is confident that the Couponomy will be a major addition in loyalty reward programs and will, for sure, attract thousands if not millions of users.