August 11, 2014
When was the last time you were rewarded for being a loyal customer? The amount of times I eaten at Zak the Baker’s new spot or ordered delivery from Suviche (every Tuesday) I should be getting some serious discounts. Sure, there are a few loyalty programs available, but Miami-based startup Fidelity Network, FiNe, has developed a one-stop loyalty app to offer continuous rewards to customer while providing statistical information to business owners that can help with their marketing strategy.
A customer shows the discount available in the FiNe app to the cashier at the shop. The customer pays the discounted price for their order. After paying, they scan the QR code from the business and watch their discount increase. So the more times you frequent your favorite shop, the more discount you will get in that particular place. If you don’t, the discounts also decrease. There is that gaming aspect that keeps customers engaged.
“I personally believe that the meaning of the word loyalty has been lost in today’s corporate world. Businesses call loyalty having to gather an absurd amount of miles before you can redeem a short flight. Or even, which in my view is mockery, have you gather imaginary points towards some type of token gift,” Diogo Ribeiro, Founder and CEO of FiNe.
The business not only gets data that includes customer buying patterns and demographics, but they have personalized information they can use to promote their business. The app is free for customers, and it is free for business.
Of course, there are already loyalty based apps in the market, such as FourSquare, Belly, Loyal Blocks, but Ribeiro says actually rewards customers for their fidelity every time they visit, rather than the 10th visit.
FiNe is available for free on iOS.
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