Startup aims to replace traditional promotions and incentives such as discounts with digital goods, e-gift cards and instant rewards.
by Robin Wauters. Originally published on TechCrunch.
Here’s an interesting one: a new startup aims to help retailers replace traditional promotions and incentives such as coupons and discounts with virtual goods and virtual currencies for a wide range of social games and networks. The American/French company, dubbed Ifeelgoods, is launching today.
Ifeelsgoods’ goal is to make online retail promotions more effective and less expensive by using relevant virtual goods and currencies from the most popular social games in lieu of traditional promotions such as discounts, coupon codes or gifts with purchase. It comes in the form of a hosted solution that lets retailers manage their own virtual goods promotion offers, redemption and related customer services.
“In retail, incentives and promotions are critical sales tools but they are one-size-fits-all and can be very expensive,” says Michael Amar, Ifeelgoods CEO and co-founder. “As social networks and social games become even more integral in people’s daily interactions and personal relationships, it’s evident that retailers who learn how to capitalize on these trends will have a powerful advantage over their competition.”