Vancouver-based RewardStream Solutions Inc. (TSXV:REW) (FRANKFURT:JL4L) is launching its own Innovator’s Program aimed at Shopify e-Commerce stores and merchants, for registered Shopify users of the Shopify platform in the United States and Canada.
More than 300,000 online stores worldwide are powered by Shopify, representing a powerful user base for companies like RewardStream to leverage with their own solutions.
“Online stores continue to seek out innovative marketing tools, and referrals are a powerful and very cost effective methods of acquiring new, loyal customers,” said RewardStream CEO Rob Goehring. “Shopify has quickly become a world leader in e-Commerce platforms, and represent a next step in the ongoing expansion of our strategy to make automated referral marketing tools available to any business. Our Innovators Program will ensure that we bring the best solution to the Shopify marketplace and create a starting point for enabling our app to the entire Shopify customer base that is now over 300,000 merchants.”
Shopify users that decide to join RewardStream’s Innovator’s Program will be granted early access to RewardStream’s Shopify app, plus ongoing implementation and account support, as well as free lifetime upgrades for the Shopify app and discounts on fees.
Founded in 1999, RewardStream launched its first referral marketing software in 2003, making them early innovators in the space, developing enterprise-class referral marketing software guided by decades of best demonstrated practices which are embedded into their product’s feature set.
RewardStream now focuses on providing referral marketing software for telecommunications, financial services and e-commerce companies.
Utilizing a combination of marketing insight and proprietary technology, RewardStream specializes in the execution of automated programs that help brands to acquire, engage, and retain customers while also turning their existing customer base into a new sales channel via social recommendations.
Referral marketing, otherwise known as word-of-mouth, is by far the most effective form of customer acquisition and retention.
A Neilsen Trust Study showed that word-of-mouth recommendations from friends and family are the most influential form of advertising by a wide margin, with 84% of global respondents in 58 countries identifying it as “most trustworthy”, compared to 69% for advertising on branded websites or 68% for consumer opinions posted online.
RewardStream focuses on leveraging the trust and power of social recommendations, helping digital marketers with their customer acquisition goals while rewarding their existing loyal customers for having made the referral, thereby incentivizing the social recommendations process at a much lower cost per acquisition rate than traditional marketing channels.
RewardStream’s Shopify extension allows anyone using the Shopify e-Commerce platform to integrate the company’s referral marketing capabilities into their Shopify online store, allowing them to automate and simplify the process of getting their online customers to refer friends to the store via a mobile device and through their social platforms, including Facebook, Twitter, WhatsApp, or Telegram, among others.
The extension deploys seamlessly with a merchant’s Shopify online store, requiring minimal configuration and no IT support.
RewardStream’s Spark platform has powered loyalty and referral marketing programs across 39 countries for a variety of brands, including Boost Mobile, Virgin Mobile, Envision Financial, and Koodo Mobile, among others.