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This series is brought to you by HP Elite. Find out more at hp.com/elite.
This is the final post in this consulting series where we’ve partnered with our friends at The Next Web and VentureBeat to profile three innovative entrepreneurial businesses that are leveraging cool technology in a unique way: CrowdTwist, Egnyte and CloudFlare. Last week, we introduced CrowdTwist’s multi-channel loyalty platform to our community of 2.5 millions social influencers with great interest on how they start to earn points. Here’s a summary of the key ideas from the series:
VentureBeat highlighted how CrowdTwist’s social approach to commerce is gaining both great customer loyalty results and phenomenal ROI for brands adopting the platform. Most impressive is how it incentivizes social spend: 50% of all brand purchases come from program members, resulting in a 35% increase in average basket size. Also, VentureBeat suggested a deeper exploration of cross-promotional opportunities with consumers by aggregating other existing loyalty programs brands that have been deployed in the marketplace.
The Next Web reinforced how CrowdTwist’s value proposition of stealthy rewarding and word of mouth marketing has been paramount in its growth. To accelerate that further, they recommend focusing more on getting audience segments that are on the cutting edge, leveraging the power of exclusivity and driving tactics leading to more interactive relationships. Also, The Next Web reiterated the importance of focusing on users that have the greatest potential to multiply brand interactions and social spend.
In Multi-Channel Loyalty Platforms, we highlighted how the In-Social trend could help accelerate sales and end user adoption by focusing on retailers already using in-store social technology. To supercharge this idea even more, CrowdTwist should consider partnering with niche agencies with deep retail experience to reduce the sales cycle, increase account size and help integrate its platform in a brand’s broader loyalty strategy. Eventually, this could present the opportunity for one of the global agency holding companies to come in to forge a greater global partnership.
What’s evident from this series is that CrowdTwist is already trailblazing innovation in the Social Commerce Rewards arena. We will surely keep a close eye on CrowdTwist growth story and hope to identify more cool ideas it’s bringing to the market.