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CashRewards [SMART 100, 2018]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

Our members would often forget to use Cashrewards to commence their shopping journey. This meant that they missed out on their cashback and we missed out on revenue. We sought to create a solution which made using Cashrewards easier and helped to make it clear to members that their activity was being recorded. The Cashrewards Notifier App is a toolbar extension that injects our cashback rates into organic search results reminding our users about Cashrewards. This makes using Cashrewards a single click process allowing our members to get cashback at their favourite stores whilst increasing sales for our retail partners.

2. WHAT & HOW

The purpose of this innovation is to…

…remind our members to use Cashrewards, to make it easier for them to get cashback on all of their transactions, to increase our revenue and to drive sales for our retail partners.

It does this by…

…inserting our cashback rates into organic search results and allowing our members to activate their cashback through a one click process rather than logging on to the Cashrewards system. It also makes it clear whether the system is recording their activity on any shopping site giving them confidence to shop knowing that they will get cashback on what they purchase.

 

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

Previously our members had to log on to the Cashrewards website to commence their shopping activity. Now the Cashrewards Notifier App will notify them if they need to activate their tracking to earn cashback. This is now a one click process rather than the member having to change their shopping behaviour.

Its various benefits to the customer/end-user include…

A better customer journey, improved clarity of cashback rates, transparency of tracking status and in built reminders about using Cashrewards. The Cashrewards Notifier App is an intuitive system providing our members with a simple interface to earn cashback.

Emailing our members frequently with offers to encourage them to use the system and remind them about Cashrewards. We also had to provide bonus cashback amounts out of our margin as part of the on-boarding journey for our new members to encourage them to shop soon after signing up and to hopefully help them create a habit of using Cashrewards.

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

Manually searching for coupon codes and special offers shown on retailers sites. This required a lot of effort from consumers to find the relevant voucher or discount code and they weren’t sure that they were getting the best deal.

5. TARGET MARKET

It is made for…

All Cashrewards members to ensure that they get cashback on everything that they buy. Not only does it remind our members about using Cashrewards but it automatically inserts any coupon codes available to get additional benefits such as free shipping. Since being introduced last year 40% of our sales volume now comes via the Cashrewards Notifier App.

It is available for sale through…

A number of web stores for browsers including Chrome, Safari and Firefox. It is free to download and works in the background to improve the Cashrewards experience for our members.

Our marketing strategy is to…

Encourage our members to download the Cashrewards Notifier App as part of the registration process. We have done this by incentivising our new and existing members with a Cashrewards bonus for downloading the Notifier. For those that have downloaded the Notifier we have seen a significant increase in their shopping activity and they have reported and improved user journey.

 

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

Maven Judge Vote: CashRewards – Smart 100 2018
(Please note – The form below is for judging purposes only and is restricted to the public)

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