PASADENA, Calif., Apr 11, 2012 (BUSINESS WIRE) — Punchcard, an Idealab company, announced today the introduction of Punchcard for Business, the company’s new business-side marketing solution that gives local merchants valuable insights into customer purchasing behavior, along with the ability to automatically push offers directly to consumers’ smart phones via the Punchcard Mobile App. Pioneering Online 2 Offline (O2O) consumer and merchant solutions in what has been called a trillion dollar market, Punchcard for Business gives local businesses a live link to customer mobile devices along with a way for local businesses to push relevant offers to consumers based on their past purchasing behavior. The result is that consumers receive targeted offers from local businesses that they love and local businesses can finally communicate with consumers in an automated fashion. This is especially important for local merchants as 15% of their customer base typically generates 60% or more of their profits. Punchcard’s loyalty and mobile marketing solution works for local businesses of all types, including specialty retailers, restaurants, grocery stores, coffee shops and others.
Combined with the Punchcard Mobile App, Punchcard for Business gives merchants a personalized dashboard which provides rich customer data based on actual purchases. Gone are the days of the “one size fits all” offer as merchants now have the ability to push personalized offers such as: a percentage or dollar amount off of their next purchase, an incentive to tell their friends, a free item if they come back and purchase again this week, or an offer based on the customer’s past purchase behavior (i.e. “buy a sweater to go with those jeans you bought last week”).
“We have spoken to thousands of local businesses and hear the same comment over and over again: customer acquisition is expensive and, regardless of where they are advertising, they often don’t know if their marketing efforts are producing repeat purchases from their customers,” said Punchcard CEO Andy Steuer. “Punchcard for Business provides a way for those merchants to increase the revenue generated from these customers and shorten the consumer re-purchase cycle, while also gaining insights into which customers are their best customers and which customers need an incentive to come back more frequently.”
With the introduction of Punchcard For Business, Punchcard is taking it one step further by offering merchants insights into customer purchasing behavior via in-store analytics, combined with an automated mobile marketing solution that allows the local business to send highly targeted offers to customers and re-acquire and reward the ‘Right Customer’ on a cost effective basis. Consumers benefit as well by receiving valuable offers from businesses that they love.
“The lines between online and offline are blurring and we are at an inflection point in the market where consumers use their mobile phones several times an hour when they are shopping or eating at their favorite restaurants. Punchcard provides a way for consumers to get rewarded for being loyal customers, and for merchants to be able to re-acquire those customers on a more cost effective basis. We expect to see that the net result is consumers will increase their purchase frequency and purchase amount as a result of Punchcard for Business and, in this economy, that is exciting,” continued Steuer.
The Punchcard mobile app replaces the stacks of paper loyalty cards and rewards consumers with cash back from their favorite merchants. The process for achieving rewards is simple: Download the Punchcard app, called “Punchcard — Official” in the App Store and Android Market, and after visiting a business, simply take a photo of the receipt at the point of purchase after which Punchcard will verify your purchase so you can earn “punches” at the places you love to shop.
The “Punchcard Official” App is available now in the Apple App Store for iOS users and in the Android Market for Android users. Punchcard is currently available at more than 147,000 businesses in Southern California.
About Punchcard
Punchcard is a mobile engagement and loyalty network designed to give merchants an effective way to retain customers while rewarding shoppers for making frequent purchases at their favorite retailers.
The Punchcard app is a mobile platform that uses an electronic “punchcard” system that is easy-to-implement and simple to use for shoppers and merchants alike. Merchants get real-time data about their customers’ buying habits, as well as social and other demographic information that allows them to provide their loyal customers with targeted offers and rewards. Punchcard is run by Gigway, Inc., an Idealab company, headquartered in Pasadena and was founded by Andy Steuer in 2011. For more information, please visit www.punchcard.com , and connect with Punchcard on Twitter, Facebook and Google+.
SOURCE: Punchcard
Idealab for Punchcard
Stephan West
626-685-4934
stephan@idealab.com
Copyright Business Wire 2012
