Platform builds smart shopping into business operations
When you go shopping, how much are you saving? Whether it’s through VIP points, cash back or coupons, customers today like to know they’re getting an extra bang for their buck when making purchases. For Reward Mark, the key to loyalty programs that work is a partnership with the businesses themselves. With a platform designed to help companies customize their rewards programs for customers, this Columbus-based startup saw the opportunity for a new program model that would help them revolutionize shopping for business.
“In starting Reward Mark, we saw the chance to bring a tremendous amount of value to the business community,” said Tina Fisher, CEO. “When talking with Salon Lofts in particular, we knew they already had an internal rewards program limited to certain beauty products. Their beauty professionals would get Rent Rewards when they bought something that was beauty specific. With Reward Mark, we gave them the ability to extend their rewards program by bringing in other retail categories to make everyday shopping part of the savings.”
When a beauty professional decides to make a purchase, whether it’s clothing, home and living, travel, health or a plethora of other options, they can use the Salon Lofts rewards program that’s partnered with Reward Mark to help drive down the cost of their loft rental.
Beauty isn’t the only industry that Reward Mark’s platform is helping to establish a savvy shopping program. Fisher notes that the model works for a variety of companies including nonprofits, property management companies, business networks, fitness centers and more.
“Say an apartment renter wants to buy a new big screen TV. Or they have some move-in expenses and needed a new sofa,” said Fisher. “All of these products can be purchased through our shopping platform, and the rewards earned from those purchases are then deducted from their rent payment. This all happens because they’re simply doing their everyday shopping. We think that’s very powerful.”
Reward Mark’s new business model wasn’t only transformational for the companies they partner with, but for the startup itself. Working with Rev1 Ventures, a partner of Ohio Third Frontier, Fisher and her team found a network of entrepreneurial support.
“Rev1’s mentorship has been substantial,” said Fisher. “They’re a big player in the startup region and they certainly helped us evolve and continue to provide support as we grow.”
With the power of purchasing linked to loyalty programs, Reward Mark’s future endeavors include expanding the over 1500 retailers currently on the platform.
“The goal is to continue to bring value to shoppers,” said Fisher. “Any time you can stack your savings, you’re helping businesses empower their customers, ensuring that they return to you when they need to make a purchase. We’re excited about the ways that we can continue to drive that relationship.”