Gift & Loyalty Cards Programs
Not Just For Retail Anymore
FRANKLIN, TENN. (February 15, 2006) - ProfitPoint Inc. and Besway Systems Inc. join forces to launch the "Besway Bucks" customer rewards program; a uniquely designed customer rewards strategy for the chemical solvents market.
Besway, which just completed its 30th year of operations, will use ProfitPoint's stored value software to manage the new program, and has contracted with ProfitPoint to assist a mailing to more than 9,000 past, present and future customers. Each promotional piece contains a $30 Besway gift card good toward a future purchase of the company's product.
Cardholders are automatically enrolled in the "Besway Bucks" loyalty program, which offers 100 points in reward value for every dollar spent on qualifying purchases. Points accrued on the card are redeemable for discounts on future transactions or they can be used to purchase travel, merchandise and other prizes offered through the program.
Mark Faulkner, President of Besway, said he is proud to be the first to bring this innovation to his industry.
"Besway's customers are mainly part of a small niche in the overall chemical solvents market," Faulkner said. "They have never experienced anything like a 'frequent buyer' program where they are rewarded for their business purchases. That being the case, Besway, with the help of ProfitPoint, is proud to bring this innovative marketing program to our industry. We think our customers (and our competitor's customers!) will appreciate that someone is tangibly showing how much their business is valued."
Vaden Landers, CEO of ProfitPoint, cited Besway's innovative spirit.
"I give Mark and his team a lot of credit for thinking outside of the box in terms of how gift and loyalty card programs can have application outside of the typical retail or restaurant environment," he said. "Our goal is to help Besway drive incremental new revenues and engender customer loyalty with clients and distributors through these card-based incentive offerings. We are very excited about the opportunity to work with the Besway team on the launch of the 'Besway Bucks' customer rewards program."
Landers noted that Besway is on the cutting edge of a trend in the gift and loyalty card business.
"These types of uniquely designed marketing programs are no longer just for the big-box retailers. Players in industries of all shapes and sizes are getting smarter about how and where they spend their marketing dollars. We're very fortunate in that our technology platform is robust enough to handle the most complex of loyalty program schemes for merchants with several hundred, perhaps even thousands of locations, while at the same time providing the simplicity required of a single mom-and-pop operator."
Headquartered in the Nashville, Tenn., area, ProfitPoint Inc. also has field offices in Atlanta, Philadelphia, Boston, Hartford and Knoxville, among others. The Company's President, A. James Battista, will continue to oversee the sales force expansion. Plans are underway to acquire double the space ProfitPoint currently occupies in anticipation of this new business growth and development.
About ProfitPoint, Inc.
ProfitPoint Inc. is a leading provider of gift and loyalty card services to the small to medium sized merchant community. Headquartered near Nashville, Tennessee, ProfitPoint supports its gift and loyalty cards with point-of-purchase accessories, real-time electronic transaction processing and customizable reports for each merchant. ProfitPoint specializes in the design and production of custom gift and loyalty cards, software capability and merchant education to meet each individual client's needs. Now serving approximately 20,000 merchant locations nationwide, ProfitPoint produces in excess of five million cards per year and does more than 10 million stored value transactions on its gift and loyalty card platform. ProfitPoint has experienced annualized growth of more than 100 percent each year since its inception in 2003.
About Besway Systems Inc.
Besway Systems Inc. (www.besway.com) provides high quality chemical blends, systems, and consulting which enables industrial, retail, and service related customers throughout the United States to maximize their production, enhance safety, and insure regulatory compliance.
