CrowdTwist's New Advisory Board Members
CrowdTwist, announces two new heavy-hitting advisory board members, Carol Kruse and Shiv Singh.Read More...
CrowdTwist, announces two new heavy-hitting advisory board members, Carol Kruse and Shiv Singh.Read More...
Bob on Twitter, Bo on Facebook, and BJ on Pinterest are all one guy. Find out how CrowdTwist helps you sell to him.Read More...
CrowdTwist is announcing that it has raised $9 million in Series B funding.
Since the company offers tools for creating online loyalty programs, co-founder and CEO Irving Fain said that a few years ago, CrowdTwist was sometimes “gravitationally lumped into the intense fervor around gamification,” but he pointed to the new funding is a sign that it has a bigger vision, one that can provide “long-term, sustainable value to brands.”
CrowdTwist hit on an idea based on gamification, using game-like features such as reward points to enhance engagement and increase traffic and raised $11 million in seed and Series A funding. The startup wasn’t shy about approaching and winning sales with big companies like Pepsi, Nestle, and L’Oreal to name a few.
Lancome, the luxury cosmetics company, has launched Elite Rewards, a program designed to increase customer acquisition and retention, with an emphasis on social media and content promotion.
This week marks the launch of Lancôme Elite Rewards, one of the first loyalty programs in the discount-averse luxury cosmetics category. And social media participation is as important as purchases for this program.
Multi-channel loyalty marketing is in many ways a practice in peeling away veils. We use in-store purchase data to reveal needs and preferences, mobile analytics to understand lifestyles and patterns, and social media to gauge interests, passions, sentiment and influence.
USA Track & Field, the nation’s governing body for track and field events, has debuted its first rewards program for fans who purchase official merchandise or interact with the brand on social media. With a nod to Greek mythology’s speedy Hermes and his winged sandals, those actions garner fans “wings,” can be redeemed for prizes including apparel and VIP event access, according to the track and field organization.
What do Amazon, Apple, and Yelp have in common? Obviously, these tech juggernauts share more than a few similarities, but one common theme is that each has fully embraced and integrated the concept of “social proof” into their core business model.
If you’re looking for the ultimate personification of loyalty, you don’t have to look much further than the recent Super Bowl. Thousands of NFL fans, many from faraway Denver and Seattle, flooded New York City and New Jersey for an action-packed week of events and parties culminating in the big game–the most watched TV event in the world.
For the last few years, “mobile” has topped every trend-forecasting list across industries — with experts hailing each incoming year “The Year of Mobile.” We could spend an entire article debating whether 2013 was actually the year that mobile truly broke through. There’s certainly no shortage of compelling statistics illustrating the impressive, accelerated growth of smartphone adoption and content consumption over the last 12 months.
Data is everywhere. Every single interaction that a customer has with an organization, irrespective of the channel, is translated into nuggets of information, which, if used properly, can make the difference between the right and the wrong decision.
The customer is always right, regardless of what some airlines will tell you. In recent months, two major U.S. airlines (Delta and Northwest) booted two customers from their frequent flier programs allegedly without much notice, and in both cases banned them from ever reapplying. One of those thwarted customers, Lynn Harrell, a world-renowned cellist, made it onto Comedy Central’s The Colbert Report, while the other–Binyomin Ginsberg, a Rabbi from Minnesota–is now getting hearing before the U.S. Supreme Court.
Multichannel customer loyalty programs are a great way for brands to truly understand customer interactions across channels according to CrowdTwist CEO and founder Irving Fain. Fain told Loyalty 360 that the increase in the number of channels consumers use has been a catalyst for these types of loyalty programs.
Acxiom yesterday introduced Audience Operating System, a stab at giving marketers a singular view of the customers by uniting disparate data sets such as first-party and third-party, structured and unstructured, plus quantitative consumer information. The company claims that AOS can also serve as a platform for second-party data sharing between enterprises.
Retailers and websites are failing to use the best data at their fingertips to target ads and offers to consumers, according to one company. Eighty percent of profits come from 20 percent of customers, and companies should focus on the data that those customers provide, including their preferences, location, age and web habits, according to analytics company CrowdTwist.
Acxiom introduced a new way for marketers, agencies and publishers to define, manage and reach best audiences across online and offline channels. Acxiom Audience Operating System(TM) (AOS) is unique because it enables marketers to connect all types of traditionally disconnected data and — for the first time — to create a truly singular view of the consumer. AOS derives better insights to help marketers more clearly understand their audiences and more accurately anticipate what will appeal to them. This creates more effective marketing campaigns and ultimately, happier consumers.
We all want to have that local spot where we simply walk in and the clerk behind the counter gives a quick nod of acknowledgment and produces our order without another word. The comfort and excitement that comes from an interaction that is yours alone is fundamentally what drives brand loyalty. You’d think that, with the advent of social media, these personalized experiences would be relatively easy to create. Social media promised to help marketers evolve from talking at consumers to engaging in a two-way conversation. It was this conversation that would allow companies to personalize their approach based on a customer’s preferences and needs.
IBM, joined by more than 100 business partners, launched the IBM Digital Marketing Network in the cloud to help chief marketing officers (CMOs) and their teams more quickly and easily integrate new marketing services to measure and improve their effectiveness in real-time. Part of IBM’s Smarter Commerce initiative, the IBM Digital Marketing Network can syndicate real-time analytics to any marketing service such as Google Display Network, Doubleclick Search and Badgeville, to help marketers create a more consistent and compelling customer experience based on individual buyer behaviors. Creating a relevant experience is critical; the IBM 2013 State of Marketing Survey cites $83 billion in sales is lost each year due to poor, inconsistent customer experiences.
Consumer loyalty platform CrowdTwist, one of the graduates from TechStars NY’s first class, has announced a huge revenue growth of 3,200 percent year over year. CEO Irving Fain once complained to me that his company didn’t get much screen time on the Bloomberg reality show, since there was little drama in a startup with a steady business. But his investors must be happy to see that things are going well, with revenue up; new blue chip clients like Sony, Pepsi, and the Miami Dolphins; and new executives poached from from big agencies like Digitas and Momentum Worldwide.
In the increasingly crowded landscape of customer loyalty startups, many default to offering discounts and coupons. CrowdTwist, a white-label SaaS platform for brands, is staking its claim on a different take on customer loyalty by partnering with brands to make their fans’ wildest dreams a reality. Steven Kitrel, a longtime Miami Dolphins fan whose nickname is “The Viking,” got to live his dream of running the team’s flag on the field during an August game last year.
Marketing used to be simple. You chose one of three or four channels, spent your money, and hoped for the best. The awesome and awful new digital reality, however, is that the number of channels is now infinite, and customers interact with you in multiple separate ways. Good luck tracking your spend, understanding who you’re contacting, and determining your overall return on investment. That’s a problem that companies like CrowdTwist are starting to address.
All you have to do is turn on your television, go online or open a magazine and it’s clear that brands pay big money for celebrity endorsements to influence consumer behavior. But the world is changing, and now this influential power is no longer in the hands of celebrities alone.
Could the brands of chocolate you like reveal your political affiliation? According to New York-based customer relationship and loyalty startup CrowdTwist, it could. In time for Halloween and the presidential election, the TechStars-backed startup, which enables companies to track and reward consumers for their engagement across social, mobile and online platforms, mined millions of social data points (primarily from Facebook) to look for connections between brands of chocolate and political parties.
There’s nothing new about loyalty programs. One of the first programs was created by S&H Green Stamps, which got its start in the late 1800s. Today, if you check your wallet, favorable odds suggest there will be at least one card attached to your local grocery store, pharmacy or lunch spot. And that doesn’t even include membership in airline programs, hotel chains and the myriad of other options available to consumers.
NFL training camps are starting up this week. That means fans will start getting a better idea of how their teams might perform this season and what games they’ll want to check out. The teams would prefer those fans do their game-watching in stadiums, but that’s a hard sell considering ticket prices for good seats versus the couch-comfy view of one’s HD TV and the relative anonymity of both environments. But the Miami Dolphins are turning to tech as a way to bring fans closer to the field and make sure it’s not just a one-off outing.
This post is part of a consultation series that we’re doing along with our friends at The Next Web and Trend Hunter. Each of the three sites has picked a company that’s effectively utilizing new technologies to get them ahead in their space. Here’s our take on TrendHunter’s: CrowdTwist: Everybody loves rewards. But if you participated in every physical retail store’s loyalty program, it’s likely you couldn’t buy a wallet thick enough to hold all the plastic. That’s not a problem with CrowdTwist, which is a customer loyalty program for online brands that doesn’t take up any space in consumers’ wallets.
TechStars NYC is the Harvard of accelerators. As the #1 startup accelerator in the world, it’s selection rate makes winning the lottery look like a walk in the park. But, in a way, getting accepted is like winning the lottery. The accelerator, who has locations in Boston, Boulder, NYC, Seattle and San Antonio, invests $118K in each company, mentors the freshman startups for three intensive months, hooks the them up with some awesome perks, and gives them a chance to pitch their ideas to top venture capitalists and angel investors.
CrowdTwist, which provided the underlying platform for the Miami Dolphins’ recently announced loyalty program and provides the platform for a loyalty program for Zumiez – a program that’s been launched regionally and will be launched nationally later this month — blending consumers’ online and offline brand engagements to drive loyalty rewards programs.
CRM is about the customer lifecycle and not just the moment. Customer Relationship Management tools help companies build long-term relationships with their customers by allowing them to understand who they’re speaking to and where those conversations are happening. However, as Salesforce’s acquisition proves, this is becoming increasingly complex in the multi-channel world that we’re living in. If you look at IBM’s most recent CMO study, the top 3 areas where CMO’s are feeling underprepared are Data Explosion (71 percent of those surveyed), Social Media (68 percent) and Growth of Channel and Device Choices (65 percent). Buddy Media helps Salesforce offer a solution to these problems while also providing a new horizon for growth.
Despite some bad examples of gamification, the concept of adding game mechanics to tasks, as I’ve said, has merit when done in a thoughtful way. And that requires offering real-world rewards, said Irving Fain, CEO of New York start-up CrowdTwist. Fain said the startup, part of TechStars’ first New York class, helps brands and companies track their social media efforts across multiple platforms and build engagement and loyalty through real rewards. He said he’s found budding success by tying game mechanics to things that people care about, not just points and badges.
There’s a lack of accountability with most measures of influence because they aren’t able to delineate vertical-specific interest among community members. “We’re looking more deeply into a brand’s landscape to understand how and where their audience is engaging with the brand itself,” says Irving Fain, CEO of CrowdTwist. “Because our platform extends across many platforms (social, purchase, site, etc.), there are a number of ways in which we can better define these metrics.”
CrowdTwist has raised $6 million in venture funding for its platform that gamifies brand loyalty and rewards programs. CrowdTwist is one of a number of startups built around gamification, or using game-like features such as reward points to enhance engagement and traffic for non-game applications. The company and its rivals say they can help brands reap bigger revenues and engagement by helping users to have more fun and using modern analytics to measure and tweak results. CrowdTwist’s existence suggests that loyalty programs are now in a state of flux after many years of traditional marketing practices.
CrowdTwist premiered at Webster Hall in April as one of the 12 TechStars NYC companies. It quickly stood out and multiple entrepreneurs and VCs told us it “had to be on this list.” Social media has traditionally been hard to measure, and CrowdTwist is helping brands understand where their efforts are being put to good use, and where they’re wasted.