The Prizeout company, which operates in the field of advertising, announced the beginning of a partnership with the Triple offer platform, which is linked to cards.
As part of the implementation of the cooperation program, which became known last Tuesday, June 13, Triple clients will have access to premium offers from their favorite retailers using digital gift cards Prizeout.
Holly Glovati, co-founder and director of partnerships at Prizeout, said that this interaction makes a lot of sense for the company. She noted the similarity of the value propositions and the industry orientation of the parties to the cooperation. According to her, Triple’s customer base and connections will help Prizeout expand the distribution of offers.
Prizeout has at its disposal a virtual platform, in the space of which more than 1300 brands are fighting for attention from buyers. Companies participating in this competition process offer consumers gift cards with a bonus value. After the client makes a choice in favor of a particular brand, a postcard is sent to him by e-mail. Any commission fees are not provided in this case.
Experts say that the currency, which is tied to gift cards and is often designated as branded, can become a strategic differentiator. In the USA, an amount equivalent to $21 billion is stored on these cards and is awaiting application. If used correctly, brands can reveal the value of this currency, attract and re-engage customers, ensure a high level of consumer loyalty, and interest a new audience.
Brendan Grove, technical director and one of the co-founders of Prizeout, in the context of discussions about branded currency, stated that marketing advantages are not always the result of the implementation of fundamentally new solutions.
Currently, there is a high level of competition between platforms for the share of consumers’ wallets. This is happening against the background of an increase in the cost of capital.
Grove says that brands are increasingly focusing on improving efficiency. Separately, he noted that the development strategies of many companies in terms of goal-setting are not always limited to the desire to increase the customer base. Grove stated that the value of a permanent relationship with the customer is currently growing within the framework of the concept of interaction with consumers.
The technical director of Prizeout separately reported that the unused $21 billion in gift cards will eventually cease to be a kind of frozen asset as a result of the transition of brands to digital technologies. These cards lie among things that are not used by anyone, and at the same time, their owners are busy looking for additional spending opportunities.
The partnership with Prizeout was established after the start of Triple’s collaboration with Banyan in April of this year. This interaction program is aimed at providing offers that are linked to cards at the product level.
As we have reported earlier, Qolo and PayQuicker Team Up.