Merchants want increased sales.
You don’t have to be a genius to guess that retailers want to stimulate more traffic and lower their cost of acquiring a customer. I guess that is why I figured it out.
Accordingly’ we believe that we have developed a merchant program that will cause a paradigm in the industry.
BSP Rewards work with merchants on 4 levels:
1. E-Commerce
2. Gift Cards
3. In-store Merchant
4. Branded Rewards Program
The first level is easy (E-commerce) …that we why we have acquired over 700 merchants in our web mall. We simply place the merchant in our mall and watch the sales occur. As the merchant only pays for success; his only cost is when a sale is actually consummated.
The differentiating point with the BSP program is that we place that merchant in every mall we build and brand for clients - and that number is north of 50 (as opposed to a single mall). By the way, we with new malls being launched all the time.
Then we cross market them to all the members, in all the malls, through monthly newsletters and other unique marketing programs. For instance, every time the member makes a purchase from the merchant they send a them an email confirmation - and we send one also. Double exposure!
The merchant also sends another email when the item ships, at which time we send one to them awarding their points - again double exposure!
And the beauty for the merchant is there is no cost for this advertising exposure:
1. To be listed in the mall
2. To be highlighted in newsletters
3. For the confirmation email
4. For the point award email
A pretty neat multi-prong advertising campaign - and it is all for FREE. No wonder BSP has the largest mall on the web.
The mall has now reached critical mass. We have come to the point that we turn down merchants every week who apply. Of course we will allow some additional merchants to participate…but only if the meet our criteria.
Next week I outline our strategy relative to gift cards.
