Ad network 24/7 Media unveiled the latest version of its AwardTrack online
customer-loyalty product Monday.
Based on technology attained in the company’s February acquisition of B2B
incentive startup AwardTrack Inc.,
the hosted system allows clients to offer points to customers to reward
actions such as referrals, registrations or purchases. These points are
then redeemed for merchandise or services at the client’s site.
Monday’s update, the first since the acquisition, includes technical updates
to support emerging online advertising platforms like broadband and
wireless, as well as changes to AwardTrack’s pricing scheme.
Previously, clients paid up-front for enabling the incentive program. With
the new system, the company’s clients can purchase points only as they are
turned in for merchandise — in practice, creating a guarantee that the
client will see a return on the investment, said AwardTrack president Brian
Anderson.
“In our breakage model, customers can now pay to purchase a blocks of
points,” he said. “Those costs evaporate if the points don’t come back for
redemption.”
“The success of an online business depends on creating a loyal customer
base,” Anderson said. “The updated system “helps businesses keep their best
customers and acquire new ones with a turnkey private-label solution.”
Product fulfillment is included in the AwardTrack package, and is handled by
the company’s partner-vendors, including Sony, Panasonic, American Airlines and others.
One company using the new system is pan-Asian content portal chinadotcom, which in
March announced a joint venture with 24/7 to provide the AwardTrack service
to online businesses throughout Asia.
In addition to its hosted incentive-program platform, the updated AwardTrack
system revolves around PointsUniverse.com, a consumer point-management and
exchange portal. A revamped version of the site, slated for launch in
September, allows consumers to view and manage their online loyalty points.
Consumers also can use PointsUniverse.com to locate companies offering
AwardTrack incentive programs on the Web.
Additionally, Anderson said his clients could reap synergistic benefits from
the potentially interchangeable nature of AwardTrack’s points, which might
be gained at one client site and redeemed on PointsUniverse.com for
merchandise from other clients.
“PointsUniverse.com also offers the convenience of assisting people in
finding and using the hundreds of other point and loyalty programs available
to them on the market,” he said.
24/7 Debuts Latest Version of Online Loyalty Product
