Perx, one of the leading mobile loyalty platforms in Singapore that launched in October 2011, has already managed to gain a solid traction of 56,000 registered users and has awarded over 230,000 chops to its mobile app users.
Perx recently launched its Sponsored Chops to target users by location and integrates QR codes to help merchants track sales data.
Since pitching at Echelon 2012, Perx has launched some major updates. One of it includes an integration with the two major Point-of-Sale systems in Singapore: Raptor and ePoint. The integration sees Perx launching QR codes on the customer’s receipts for some of its merchants. Freshness Burger at The Central is amongst the first merchants to featured this benefit because it offers more convenience to the staff and customers. According to co-founder Andrew Roth, this update fills the final gap on loyalty, where actual sales data, such as total amount spent, can now be tracked.
Just last month, e27 did a quick interview with Andrew Roth, co-founder of the Eduardo Saverin backed startup, on the concept of Sponsored Chops but he wasn’t ready to let the cat out of the bag just yet. However, the team is now ready to unveil the concept behind Sponsored chop. Essentially, with Sponsored Chops, a user is given the opportunity to receive a bonus chop at the point of sale in return for viewing a sponsored ad. Advertisers may also provide a trackable offer if the user completes a social task such as liking a fanpage or completing a survey.
The Sponsored Chops bring multiple benefits. Not only can the ads target users based on genders, current location (display ads only to people who are near where your product is sold), based on category of business, businesses can also track the conversion rate of the offer. Andrew said, “Sponsored Chops allows an advertiser to engage customers in the buying mood in highly targeted locations.“
Here’s a case study by Perx showing how the mechanics of Sponsored Chops works:
What’s exciting about the whole new innovation is that it sees an amazing conversion rate from users: an 87 percent click through rate to receive bonus and view offers, 50 percent accepts the offer, and 27 percent redeems the actual reward. The pricing for the sponsored chops works based on actions and not just impressions. First, a fee per click is charged towards the merchant, and merchants will then be refunded for the cost of the chop. If the user completes another social tasks, there is another fee for the acquisition. Perx currently claims to be the only concept that helps subsidize the cost of the chops or loyalty rewards for its merchant. The high click through rate for the Sponsored Chop sees more advertisers snapping up the introductory offers from Perx.
Mobile loyalty is a hugely competitive space and Perx seems to be introducing waves of innovations into the industry, keeping it on top of its game.
Link to full article