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One-Third Of Loyalty Rewards Uncashed

April 20, 2011 Leave a comment

I thought I would share this article from Tanya published in Marketing Daily as it demonstrate one more time the need for consumer to redeem their point to become truly engaged and loyal. Marketers who think low redemption increase their P&L are missing the true and larger benefit of loyalty program for their company.

Study: One-Third Of Loyalty Rewards Uncashed

by Tanya Irwin, Tuesday, April 19, 2011, 3:58 PM

Of the $48 billion in consumer loyalty reward points dispensed each year, at least one-third (or $16 billion) are never cashed in, according to a study from Colloquy and Swift Exchange.

Broken down to the individual, the “2011 Forecast of U.S. Consumer Loyalty Program Points Value” study finds that the average household that is active in loyalty programs earns $622 a year, but does not redeem $205 of those rewards.

That’s enough to buy an airline ticket, purchase a week’s worth of groceries or even a smartphone, says Kelly Hlavinka, Colloquy managing partner. Loyalty marketers have work to do, because while unredeemed points may translate to short-term corporate savings, they do not equate to long-term customer relationships.

“If redemption equals engagement and engagement delivers customer satisfaction and profits, then loyalty marketers should encourage their members to make the most of their rewards,” Hlavinka said in a statement. “In short, redemption is good.”

The financial services sector is the biggest provider of rewards at $180 billion a year. The travel and hospitality sector is the second-largest industry in terms of rewards, at $17 billion a year. The retail industry, although it makes up 40% of all loyalty program memberships, issues the smallest value in rewards at $12 billion a year.

The study comprises consumer-oriented reward programs from a host of merchants, including those from travel and hospitality, retail and financial services. Taken together, the sheer amount of currency issued by this group demonstrates the economic muscle and potential untapped benefits for all involved in rewards programs, which were launched some 30 years ago.

Marketers need a “transformational tool” that can translate rewards and points into tangible goods, says Nancy Gordon, chief operating officer of Swift Exchange, in a statement. The rewards industry is “ripe for transition from a culture of accumulation to one of realization in the fullest sense,” she adds. “That means helping consumers make rewards-based purchases as easily as they buy anything else in their daily lives.”

The number of loyalty memberships in the U.S. is 2.1 billion, exceeding 2 billion for first time — up from 1.8 billion in the 2009 report. The average household has signed up for 18.4 programs, compared with 14.1 programs in 2009. Despite the increase in overall membership, the average number of programs in which households actively participate is just 8.4. Overall membership of 2.1 billion represents a 16% increase compared to the 2009 report, but a slowdown from 2007 to 2009 when memberships rose 34%.

Digital rewards increase engagement & loyalty

April 15, 2011 Leave a comment

Digital rewards increase engagement & loyalty

Published Thursday April 14, 2011 in http://www.thewisemarketer.com

An important part of making an advertising campaign successful is being different, and this is something that ad agencies are good at. One growing trend that has caught the attention of those seeking differentiation in the eyes of the consumer is the use of downloadable digital content to build brand loyalty and engagement, according to a report by The First Club.

The company’s own research has shown that digital rewards for the ‘digitized consumer’ are increasing as marketers shift their budgets from traditional advertising and promotions to online, digital, and interactive ‘new media’ channels. Another recent study predicted that digital revenues will grow rapidly, reaching an estimated US$20 billion in 2015. dmason2 This article is copyright 2011 TheWiseMarketer.com).

“It’s easy to see that the digital channel will be a very important one for brands throughout 2011 and beyond. But by implementing a digital rewards programme alongside a digital ad campaign, agencies can create more value for their clients’ customers, and therefore, more value for their clients,” explained Jill Goldworn, co-founder and president for The First Club. “In fact, 48% of consumers spend more with a company whose loyalty programme offers digital content that is relevant to them personally, whether that be downloadable music, movies, books, games, software or other information.”

Digital content can be used to reward loyalty throughout the selling process, right through from supply chain partners to end users, as well as to drive sales promotions and incentive campaigns. Agencies can also collect consumer data for up-selling and cross-selling purposes, and then use that data as an efficient way to track consumer response to each digital campaign.

At the same time, digital rewards offer endless promotional opportunities through both social media and other online distribution channels. And, because the channel is digital, unique up-selling and cross-selling opportunities can be implemented in minutes rather than days or weeks, and the market’s reaction to changes and market trends can also be measured in real time.

The First Club asserts that instant digital content provides brands with a very cost-effective solution to reward their loyal customers. While offering downloadable rewards such as music, games, software, and books, the first club also customizes programmes for both ad agencies and client organisations. These programmes offer controllable message content and instant measurability and CRM functionality.

A white paper detailing the growing trend of digital rewards, entitled ‘Loyalty: Looking Forward: The State of the Loyalty Industry and its Digitized, Instant Future’, has been made available for free download from The First Club’s web site

100M – LinkedIn now has 100 Milion members

March 29, 2011 Leave a comment

Thanks LinkedIn….

I thought I would share this with you all. Reid send me email to share the success of his company and the way he did it (below) is very engaging in a user point of view.

I was a big fan of LinkedIn before, even more so now……

100M members

Dear Denis,

I want to personally thank you because you were one of LinkedIn’s first 100,000
members (member number 91397 in fact!*). In any technology adoption lifecycle,
there are the innovators, those who help lead the way. That was you.

We hit a big milestone at LinkedIn this week when our 100 millionth member joined the site.

When we founded LinkedIn, our vision was to help the world’s professionals be
more successful and productive. Today, with your help, LinkedIn is changing the
lives of millions of members by helping them connect with others, find jobs,
get insights, start a business, and much more.

We are grateful for your support and look forward to helping you accomplish
much more in the years to come. I hope that you are having a great year.

Sincerely,

Reid Hoffman
Co-founder and Chairman
LinkedIn

Instant Redemption Rewards

March 21, 2011 Leave a comment

Instant Redemption Rewards

How to reach customers neglected by traditional loyalty programs.

Wednesday, March 16, 2011

Published in Hotel Interactive.com

Jill Goldworn & Denis Huré

There is no doubt that loyalty programs are on the rise today. In the U.S. alone, there are 1.8 billion individual memberships in loyalty programs, everything from airlines to convenience stores to movie theatres. In light of this huge number, the general perception is that consumers are happy to join loyalty programs – eager to enjoy the added rewards that come with loyalty programs. The reality, however, is that they’re not. Confirming this expectation gap, a recent survey by the Chief Marketing Officer Council found that some 32% of consumers surveyed felt that participation in loyalty programs holds “little to no value.” Ouch.

What has emerged as a result of this disconnect is a new direction in loyalty programs: instant reward redemptions. In the past, instant rewards have been limited to cash or discounts at the register; maybe a free item of very low value. Technology, thankfully, has given rise to this new breed of instantly redeemable rewards – the digital, downloadable kind. These instant rewards promise to finally eliminate some of the traditional problems associated with loyalty programs, like engagement and delivering value.

Problems with Traditional Programs
According The Journal of Retailing, “the rewards associated with loyalty programs provide a means to establish reciprocity between the customer and the company.” But problems that have plagued this interaction, or reciprocity, throughout the years and usually stemming from the delay between collection and redemption by loyalty program members. Whether a program’s threshold for redemption is too high, or the redemption process is too cumbersome (which often the case, ask any FFP member), traditional loyalty programs suffer from program inefficiency. And here’s where instant redemption provides instant relief, specifically in two areas:

Low-Threshold Consumers
In the past, a big problem has been the loss of “low-threshold” consumers. For these consumers, who maintain a low accumulation of points (or whatever program currency), the traditional loyalty program concept fails: if the point threshold is too high, the program has become irrelevant because the consumer feels the reward is not obtainable. In such cases, the loyalty program is actually hurting the brand. It suffers because the consumer disengages from the brand before they have received an added “reward” for membership.

Instant reward redemptions provide companies a very affordable alternative to offer these low-threshold consumers an easy way to burn low point accumulations. Loyalty program managers also benefit, as studies have shown that these “light buyers” represent a large increase in spending and purchase frequency post-redemption. In other words, they’re not a segment to be ignored.

Delayed Redemption
Another area of concern with loyalty programs is cumbersome redemption processes. Regardless of the delivery method, timing is of the essence in loyalty programs. In fact, the timing is (almost) everything. The longer the delay in collecting a reward, the less powerful the loyalty creation. Here, instant rewards reduce the delay between collection and redemption and, therefore, a larger chance for loyalty engagement success.

Digital Content: The Ultimate Instant Reward Redemption
Digital content, offering loyalty members downloadable content (such as music, movies, software, books, games, magazines), is emerging as the premier medium for the delivery of instant reward redemption. The sheer selection of digital content that is available, along with its monetization potential, makes it an excellent vehicle for instant reward redemption programs. Consumers want instant rewards, and digital content is the next logical step. Research from Mintel confirms this fact: 47% of consumers surveyed said their choice of loyalty program would be influenced by instant redemption options, such as cash or discounts. Jackpot!

So with this information acquired from recent surveys and obvious positive consumer sentiment, the next question seems to be: Is digital content a good substitution for cash or discounts?

In a word, yes. According to Mintel’s study, 61% of respondents said that lower overall cost for merchandise they would have purchased anyway is an important attribute of a loyalty or rewards program. It’s feasible to assume then, that relevant content – content that the consumer is likely to purchase regardless – is a good substitute for cash or discounts. And considering that 65% of Internet users have paid for intangible digital content, there is a huge market for relevant and engaging digital content waiting to be developed. In the UK, a recent YouGov survey showed that among those aged 18-34 who had engaged in digital activities, 22% spent more than £5 on digital books, the digital content category receiving the highest spend.

Digital content presents a win-win strategy
Digital content gives businesses the chance to burn points off their balance sheet, while offering the entire spectrum of loyalty program participants the opportunity to redeem points for merchandise in which they are interested or already purchasing on a regular basis.

In essence, instant digital rewards have bridged the gap between reality and perception. By making rewards instantly redeemable, businesses can give their customers the value that they seek: relevant rewards instantly and anywhere, loaded onto the devices they use in their everyday lives. Instant digital rewards, it seems, have created a new trend in loyalty programs: programs that work – for everyone.

Loyalty: Looking Forward
Featuring latest statistics and defining characteristics of various industry loyalty programs presented by the first club, “Loyalty: Looking Forward,” can help program managers grasp emerging loyalty trends and their digitized, instant future. To download a copy of the whitepaper, visit http://www.thefirstclub.net/en/white-papers

Denis Huré is CEO and Jill Goldworn President and Co-Founder of the first club.

About the first club
the first club is the first global solutions provider to present a new, better, and more effective way to offer rewards and build loyalty by delivering relevant, digital content that is instantly gratifying to today’s consumers. the first club digital solutions can enhance loyalty, promotions, incentives and any type of rewards programs by offering the latest in premium content that will engage consumers worldwide, with attainable low-level rewards. Consumers can redeem rewards instantly to access the very latest in digital content in 12 languages, including millions of music tracks, mobile phone apps, games, eBooks, audio books, and soon casual games, digital magazines, movies and TV shows to engage with their favorite brands. the first club solutions are easily integrated into existing loyalty and reward programs, are cost-efficient and scalable to encourage low level reward redemption, increase customer loyalty and create additional revenues for brands. For more information, please visit www.thefirstclub.net, or the first club consumer site, www.thefirstclub.com.

If Point Redemption is a good thing….

March 17, 2011 Leave a comment

The following article about loyalty point redemption comes to you from one of my favourite resources, Colloquy (http://tinyurl.com/5tagp9e).  As readers of this blog will know, I am passionate about the loyalty space and Colloquy’s article reinforces how important for Loyalty program to promote redemption to engage its members. The action of collecting points is the first step of engagement with a brand, but unless you actually redeem these points, how loyale are you since you did not experience the benefit of the program?

What do you think about? Do you share this vue?

If Point Redemption is a good thing, then why don’t more loyalty programs promote it?

Posted on 03-16-2011

Aline Ostrowski is a consultant for LoyaltyOne and a COLLOQUY Contributing Writer.

I have recently spent a significant amount of time developing a redemption optimization plan for a client. In the plan, we examined the target redemption rates versus the actual, the primary factors causing the lower-than-target redemption, and a plan against each factor. I have been living redemption! Although my client is “pro-redemption,” the exercise led me to think about redemption in a broader context, and about the approaches that various programs take.

First, let’s quickly level set on a few redemption fundamentals. Redemption is the key driver in sustaining loyalty program participation and brand engagement.  Members who redeem their points and get a reward are more likely to increase  program participation, churn at a lower rate, increase spend/frequency, and stay engaged with the program and brand longer.  We’ve seen that time and again in the analysis we’ve done – and COLLOQUY has written about the Relationship Chain effect extensively.  After 3-5 years, most loyalty programs show that 50-65% of members have received a reward. The result should be a positive net-financial impact.

Although the fundamentals are familiar to most in the loyalty industry, it’s interesting to me why more programs do not do more to promote redemption. I know that one reason redemption is not promoted is a financial concern; if too many points are redeemed, then the point-liability breakage benefit will decline. I argue, however, that if a program is structured properly and the highest-value members are earning the largest portion of the points, and if receiving a reward after a redemption has a positive financial impact, the program should be actively promoting point redemption.

Below are a few examples of loyalty programs that are getting it right and promoting redemption:

  • ThankYou Rewards, Delta SkyMiles, and My FedEx Rewards: Regular communications are sent to members announcing new reward options available. This program has also started promoting redemption specials to motivate members; for example, in March ThankYou members can redeem for a Lowe’s gift card for 1,000 points less than usual.
  • MyCoke Rewards, United Airlines Mileage Plus, and Disney Rewards: Emails are sent to members informing that their points are going to expire. The member is prompted to perform an activity, redeem the points or earn more points, to prevent loosing the points.

These are examples of how loyalty programs are working to maintain or rejuvenate member interest in the program and the brand.  Not only is it a good practice to update members on reward options, it is considerate (and motivating, at least for me in the aforementioned programs) to let members know when their points are about to expire.

And remember, point redemption for a reward is a good thing. Promote it more to your members.

Aline Ostrowski is a consultant for LoyaltyOne and a COLLOQUY Contributing Writer.

The State of the Loyalty Industry and its Digitized, Instant Future

March 8, 2011 Leave a comment

Loyalty: Looking Forward

Denis Huré and Jill Goldworn, the first club

The State of the Loyalty Industry and its Digitized, Instant Future

In any industry, loyal customers are the cornerstones of successful businesses.

In consumer-centric industries, the loyal customer is one that is familiar with an offered product or service, inclined to have a positive impression of the company or brand, and represents the best opportunity for a repeat transaction. For B2B companies, the relationships established with loyal clients will often lead to more clients, and repeat business is the foundation upon which growth is built. These are commonly accepted beliefs of business and are the rationale behind loyalty programs.

Loyalty programs are generally acknowledged as necessary and useful, yet everyone seems to have a different opinion on their inherent value. Are they holdovers from a bygone era, where a more diverse marketplace and a less bargain-thirsty customer base necessitated greater effort to create and maintain loyal customers? Or are they integral business tools, still conferring considerable advantages on those companies that wield them well?

More importantly, do loyalty programs work in their current state? Is it still effective to offer pieces of main product as an enticement for repeat business?

The simple answers are “sometimes” and “somewhat.”

The solutions to the challenges faced by loyalty programs and the way forward for the loyalty industry lay in the digital realm: the adoption of digital rewards, the acknowledgement that consumers are seeking more relevant and redeemable rewards at their fingertips, and the implementation of loyalty strategies that leverage the latest technology to meet consumers’ needs and desires.

Let’s look at the numbers: some 71% of marketing decision makers said that loyalty schemes have become more vital to successful business over the last two years, according to a study by GI Insight released in early 2010*. The total loyalty market in the US remains incredibly robust, as measured by Colloquy1 at 1.807 billion individual programs in 13 different segments. Yet a survey by the Chief Marketing Officer Council found that 32% of consumers feel that program participation holds “little to no value,” while 37% believed individual rewards held even less value, all of which presents a loyalty paradox.

These findings tell us that loyalty programs are at a crossroads, and that while they seem certain of occupying a position of importance for most businesses, they will take a much different form in the future than they do today. Consumer needs have evolved, technology has evolved and so will loyalty programs, driven by forward-thinking companies in step with technology and consumers’ constantly evolving attitudes, to provide relevant, enticing digital rewards.

Trending Now: Instant Redemption Rewards

February 28, 2011 Leave a comment

By Denis Huré, CEO and Jill Goldworn, President and Co-Founder of the first club

There is no doubt that loyalty programs are on the rise today. In the U.S. alone, there are 1.8 billion individual memberships in loyalty programs, everything from airlines to convenience stores to movie theatres. In light of this huge number, the general perception is that consumers are happy to join loyalty programs – eager to enjoy the added rewards that come with loyalty programs. The reality, however, is that they’re not. Confirming this expectation gap, a recent survey by the Chief Marketing Officer Council found that some 32% of consumers surveyed felt that participation in loyalty programs holds “little to no value.” Ouch.

What has emerged as a result of this disconnect is a new direction in loyalty programs: instant reward redemptions. In the past, instant rewards have been limited to cash or discounts at the register; maybe a free item of very low value. Technology, thankfully, has given rise to this new breed of instantly redeemable rewards – the digital, downloadable kind. These instant rewards promise to finally eliminate some of the traditional problems associated with loyalty programs, like engagement and delivering value.

Problems with Traditional Programs
According The Journal of Retailing, “the rewards associated with loyalty programs provide a means to establish reciprocity between the customer and the company.” But problems that have plagued this interaction, or reciprocity, throughout the years and usually stemming from the delay between collection and redemption by loyalty program members. Whether a program’s threshold for redemption is too high, or the redemption process is too cumbersome (which often the case, ask any FFP member), traditional loyalty programs suffer from program inefficiency. And here’s where instant redemption provides instant relief, specifically in two areas:

Low-Threshold Consumers
In the past, a big problem has been the loss of “low-threshold” consumers. For these consumers, who maintain a low accumulation of points (or whatever program currency), the traditional loyalty program concept fails: if the point threshold is too high, the program has become irrelevant because the consumer feels the reward is not obtainable. In such cases, the loyalty program is actually hurting the brand. It suffers because the consumer disengages from the brand before they have received an added “reward” for membership.

Instant reward redemptions provide companies a very affordable alternative to offer these low-threshold consumers an easy way to burn low point accumulations. Loyalty program managers also benefit, as studies have shown that these “light buyers” represent a large increase in spending and purchase frequency post-redemption. In other words, they’re not a segment to be ignored.

Delayed Redemption
Another area of concern with loyalty programs is cumbersome redemption processes. Regardless of the delivery method, timing is of the essence in loyalty programs. In fact, the timing is (almost) everything. The longer the delay in collecting a reward, the less powerful the loyalty creation5. Here, instant rewards reduce the delay between collection and redemption and, therefore, a larger chance for loyalty engagement success.

Digital Content: The Ultimate Instant Reward Redemption
Digital content, offering loyalty members downloadable content (such as the latest selection in music, movies, software, books, games, magazines), is emerging as the premier medium for the delivery of instant reward redemption. The sheer selection of digital content that is available, along with its monetization potential, makes it an excellent vehicle for instant reward redemption programs. Consumers want instant rewards, and digital content is the next logical step. Research from Mintel confirms this fact: 47% of consumers surveyed said their choice of loyalty program would be influenced by instant redemption options, such as cash or discounts. Jackpot!

So with this information acquired from recent surveys and obvious positive consumer sentiment, the next question seems to be: is digital content a good substitution for cash or discounts?

In a word, yes. According to Mintel’s study, 61% of respondents said that lower overall cost for merchandise they would have purchased anyway is an important attribute of a loyalty or rewards program. It’s feasible to assume then, that relevant content – content that the consumer is likely to purchase regardless – is a good substitute for cash or discounts. And considering that 65% of internet users have paid for intangible digital content, there is a huge market for relevant and engaging digital content waiting to be developed. In the UK, a recent YouGov survey showed that among those aged 18-34 who had engaged in digital activities, 22% spent more than £5 on digital books, the digital content category receiving the highest spend.

Digital content presents a win-win strategy
Digital content gives businesses the chance to burn points off their balance sheet, while offering the entire spectrum of loyalty program participants the opportunity to redeem points for merchandise in which they are interested or already purchasing on a regular basis.

In essence, instant digital rewards have bridged the gap between reality and perception. By making rewards instantly redeemable, businesses can give their customers the value that they seek: relevant rewards instantly and anywhere, loaded onto the devices they use in their everyday lives. Instant digital rewards, it seems, have created a new trend in loyalty programs: programs that work – for everyone.

Loyalty: Looking Forward
Featuring latest statistics and defining characteristics of various industry loyalty programs presented by the first club, “Loyalty: Looking Forward” can help program managers grasp emerging loyalty trends and their digitized, instant future. For more information, visit http://www.thefirstclub.net/en/white-papers

About the first club
the first club is the first global solutions provider to present a new, better, and more effective way to offer rewards and build loyalty by delivering relevant, digital content that is instantly gratifying to today’s consumers. the first club digital solutions can enhance loyalty, promotions, incentives and any type of rewards programs by offering the latest in premium content that will engage consumers worldwide, with attainable low-level rewards. Consumers can redeem rewards instantly to access the very latest in digital content in 12 languages, including millions of music tracks, mobile phone apps, games, eBooks, audio books, and soon casual games, digital magazines, movies and TV shows to engage with their favorite brands. the first club solutions are easily integrated into existing loyalty and reward programs, are cost-efficient and scalable to encourage low level reward redemption, increase customer loyalty and create additional revenues for brands. For more information, visit http://www.thefirstclub.net or http://www.thefirstclub.com.

SOURCE: the first club

VOILÀ Hotel Rewards partners with TheFirstClub.com

October 7, 2009 Leave a comment

VOILÀ Hotel Rewards partners with TheFirstClub.com
to offer digital rewards to expand their loyalty programme

LONDON – 07 October 2009 – VOILÀ Hotel Rewards announced today that it will be partnering with TheFirstClub.com to offer music, PC games, mobile content – and shortly, movies – as part of its VOILÀ’s global loyalty programme redemption offerings. VOILÀ is the first global hotel loyalty programme to provide their members with this engaging point redemption benefit.

TheFirstClub.comVOILÀ Hotel Rewards is the only points-based, guest loyalty programme created specifically for a global alliance of independent hotels and small groups. In addition to the already exciting range of incentives available in this programme, members will now be able to redeem their points in exchange for TheFirstClub.com vouchers. They will then access TheFirstClub.com download platform, enter their unique code and redeem a download of their choice from an extensive library of over 2 million types of content, supported by many local languages. The new partnership further establishes the VOILÀ programme as one of the most uniquely rewarding in the hotel industry.

“Our new partnership with TheFirstClub.com opens up a world of entertainment for our members,” says Gabi Kool, VOILÀ’s senior vice president and managing director. “We strive to bring VOILÀ members relevant reward partners and make the ability to earn rewards engaging by providing instant tier status, point earnings that never expire, and an easy-to-use online redemption process.”

Part of The Licensing Agency’s group of services, TheFirstClub.com is a versatile portal where end-users can download music, PC games, mobile content, and shortly movies, in return for redeeming promotional vouchers. TheFirstClub.com has been designed to enhance loyalty reward programmes giving a unique access to the entertainment world. Melissa Motmans, Sales Manager at The Licensing Agency, states: “TLA is very proud to be a partner of the VOILÀ Hotel Rewards programme. We believe digital content is a perfect way to instantly reward a global audience, giving a large choice of content which can suit a wide variety of personal tastes. TheFirstClub.com has been designed to be easily integrated into any reward programme and we are very excited by our partnership with VOILÀ Hotel Rewards.”

“Members find the VOILÀ programme easy to join and easy to earn with,” continues Mr. Kool. “We make it simple for members to go online, check their account balances, and within minutes redeem their points for Award Nights. Now, with TheFirstClub.com, members have a new way to reward themselves and stay entertained during their travels.”

ABOUT VOILÀ HOTEL REWARDS

VOILÀ is the world’s first points-based frequent guest loyalty programme that unites a network of over 200 four and five star independent hotels and luxury brands. The programme first launched in 2008 and has developed a reputation among travelers who like to stay in original, up-market independent properties for its compelling promotions, ease of use and simple, quick redemption process. VOILÀ’s co-branded, fully customized guest loyalty programmes support travelers who frequent Husa Hotels, Coral Hotels & Resorts, Hoteles Lucerna, Continental Hotels Group and Great Hotels Organisation. With the recent addition of Swiss-Belhotel International, VOILÀ’s network continues to expand into some of the world’s most desirable travel markets.

For additional information, visit the company’s website at http://www.voilahotels.com or contact Peter Gorla, vice president of marketing at +1 (949) 260-9538 or via email at peter@vhr.com.

ABOUT THEFIRSTCLUB.COM

TheFirstClub.com is a dedicated entertainment download platform where end-users can access music, PC games, mobile content – and shortly movies – when redeeming promotional vouchers earned as rewards through sales promotions or loyalty programmes. By creating an account and redeeming vouchers, customers or partners accumulate ClubCoins, and then select any choice of content to download that the current balance of ClubCoins allows for. They are being immediately rewarded, downloading digital content that suits their taste. Points can also be banked for future downloads. TheFirstClub.com is the World’s first dedicated portal where you can offer a flexible, multi-territory, fully brand-customisable entertainment solution to customers and staff. This unique portal has been especially designed to provide brands with an attractive solution for rewards, gift-with-purchase promotions, as well as for loyalty programmes and staff/channel incentives.

More information on TheFirstClub.com can be found by visiting tfcforbusiness.thefirstclub.com.

BSP Rewards Builds Mall for Capcom Unity Visa Card

February 27, 2009 Leave a comment

BSP Rewards Builds Mall for Capcom Unity Visa Card

MediaNet Group Technologies, Inc. (OTCBB: MEDG), the largest online mall and affinity program platform through its BSP Rewards subsidiary, announced today that it has built the private branded web mall for Capcom® Entertainment as part of the Capcom Unity Visa Card program. The mall is a value added feature in conjunction with the release of Street Fighter® IV. The relationship between BSP Rewards and Capcom was facilitated through its Strategic Marketing Partner, The Licensing Agency, Inc.

Capcom Entertainment, a leading worldwide developer and publisher of video games, recently announced a game industry trendsetting program to allow Capcom community members to show their fan spirit with a unique Capcom Unity Visa cash card. Capcom is the first video game company in North America to offer a co-branded Visa rewards card program. This is not a credit card, but a user-funded cash card that works anywhere Visa is accepted, earning a precedent-setting series of cash back, points on Capcom’s community website Capcom-Unity.com, and accelerated rewards with select retail and merchandise partners through the Capcom Rewards Mall, powered by BSP Rewards. Most importantly, Capcom’s enthusiastic fan base will be able to pay for dinner, get money from an ATM or buy games with a Visa card featuring Ryu battling Ken from Street Fighter IV or Chris Redfield from Resident Evil® 5. The Capcom Unity Visa cash card program, including the Mall, is now available for immediate online enrollment at http://www.capcom-unity-card.com .

The Capcom Unity Visa cash card will reward Capcom community members in three different ways: earning points on Capcom-Unity.com, cash back on all signature transactions and accelerated rewards through the BSP Rewards “Capcom Rewards Mall.” For every dollar users spend with the Unity card, they will earn five Capcom Unity points which can be used in a number of different ways on the community website, including the new Auctions and Raffle features that are currently in Beta test. Capcom Unity card members will also earn one-half percent of cash back in all signature purchases — the cash can then be instantly reloaded onto the card for additional use or used to purchase gift cards from retail partners through the online rewards mall for which they receive cash value rewards. Those same purchases will also qualify for accelerated rewards from over 750 chosen partners through the rewards mall, powered by BSP Rewards, which will be attractive to the Capcom fan base, including iTunes, BestBuy.com, Target.com and many more.

For more information about the Capcom Unity Visa cash card program, visit http://www.capcom-unity-card.com .

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies, Inc. (OTCBB: MEDG), through its BSP Rewards division, has developed the largest online mall and affinity program platform. BSP builds, brands, customizes proprietary loyalty/rewards/mall programs for clients and organizations and for a value added element layered onto debit and stored value cards. Companies and organizations enroll their members into the program and BSP cross-markets them to its entire database.

The Company generates purchases from over 750 participating mall merchants including the nation’s largest retailers as well as gift cards and a large discount catalog. With over 60 web malls already developed and in use, BSP Rewards currently serves more than 600,000 registered users. The Company offers affordable, immediate implementation, delivered as rich turnkey enterprise solutions for corporations interested in expanding their web presence and enhancing customer relations — turning operational costs into profit centers.

ABOUT TLA

Founded in 2002 by Jill Goldworn and Denis Huré, The Licensing Agency (TLA) is a leading provider of digital entertainment content. With over 30 years combined experience in the OEM and premium sales promotion industry, TLA provides Fortune 500 companies with digital design services, brand development and TV and video production as well as theatrical cinema release partnerships. TLA is the leading promotions specialist among major Hollywood studios, record industry executives and game publishers, offering clients promotional products using cutting edge technology such as Blu-Ray, Flash memory, online and WAP. With headquarters in Dublin and offices in London, Paris, Hamburg, New York, and Northern Los Angeles and with partnership representation in Asia, TLA provides national, regional and global promotional services to a wide range of clients including AT&T, BBDO, Sony Ericsson, Canon, Reckitt Benckiser. TLA is working with major publishers such as Warner Bros, Universal, Sony Pictures, 20th Century Fox, MGM, EMI, Atari, Codemasters, Capcom, THQ, Ubisoft, Gameloft and many, many more.

More information on TLA and its services can be found by visiting www.thelicensingagency.com .

ABOUT CAPCOM

Capcom is a leading worldwide developer, publisher and distributor of interactive entertainment for game consoles, PCs, handheld and wireless devices. Founded in 1983, the company has created hundreds of games, including best-selling franchises Resident Evil®, Street Fighter®, Mega Man® and Devil May Cry®. Capcom maintains operations in the U.S., U.K., Germany, France, Tokyo, Hong Kong and Korea, with corporate headquarters located in Osaka, Japan. More information about Capcom can be found on the company web site, www.capcom.com .