Wishpond's Viral Loops Launches New Rewards Distribution Program Allowing Customers to Give Referral Rewards Using Stripe Marketplace, Tremendous, and Sendoso
Wishpond announces the launch of a new rewards distribution program through its Viral Loops product platform, designed to increase average order value and customer lifetime value, enhancing Wishpond's referral marketing capabilities and overall business offering.
This rewards distribution program allows Viral Loops customers to give referral rewards using Stripe Marketplace, Tremendous and Sendoso, and enables customers to offer optionality in referral rewards, including Stripe credits, coupons, and gift cards, improving businesses' ability to incentivize and engage customers effectively through their referral programs.
VANCOUVER, BC, Aug. 8, 2024 /PRNewswire/ - Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) (the "Company" or "Wishpond"), a provider of marketing-focused online business solutions, is pleased to announce the launch of a new rewards distribution program through its Viral Loops product platform. The new program launches with successful integrations with the Stripe App Marketplace, Tremendous, and Sendoso allowing Viral Loops customers to use their referral rewards on any of these platforms to increase average order value ("AOV") and customer lifetime value ("LTV"). The program is expected to drive increased customer engagement and strengthen Wishpond's overall market position and capabilities in the referral marketing space.
Ali Tajskandar, CEO of Wishpond, commented: "We are thrilled to announce the launch of our new rewards distribution program, made possible through successful integrations with Stripe, Tremendous, and Sendoso. These platform integrations represent a major milestone for Viral Loops, improving customer engagement and driving new growth for customers using the platform. One of our goals at Wishpond is to continuously enhance our offerings and the value we provide to our clients. We believe that these platform integrations will help us accomplish the aforementioned goal by significantly improving our referral marketing capabilities, providing Viral Loops customers with more diverse rewarding options for their marketing campaigns. We are proud to demonstrate Wishpond's commitment to innovation and showcase our efforts in helping businesses grow organically through effective referral programs."
Stripe App Marketplace is a curated platform offering a variety of third-party applications that integrate with Stripe's payment processing system, helping businesses manage payments and enhance their operations. In the view of management of the Company, the integration of Viral Loops with Stripe opens new avenues for our SaaS clients by allowing them to offer Stripe credits or coupons as referral rewards and by setting the stage for a comprehensive affiliate program in the future.
Tremendous is a platform that aims to allow organizations to pay people worldwide, offering a range of payment options from a global catalog, including prepaid credit cards, gift cards, and charity donations. significantly enhancing referral reward options. In the view of management of the Company, the integration with Tremendous allows Viral Loops to provide these versatile referral rewards, addressing a demand from customers for diverse compensation methods. Consequently, the Company is of the opinion that Viral Loops' customers will be able to elevate their referral programs and improve customer engagement.
Sendoso is a gifting automation platform that aims to allow businesses to engage with prospects, customers, and employees through personalized, physical and digital gifts, and direct mail. By automating the sending process, Sendoso streamlines the logistics of gifting, making it easier for companies to foster customer relationships. Integrating platforms with Sendoso will allow customers of Viral Loops to seamlessly reward referrers with customized gifts or incentives. In the view of management of the Company, this not only enhances the user experience but also encourages more referrals by making the reward process smooth and personalized.
Viral Loops is a platform that helps businesses create and manage referral and word-of-mouth marketing programs in an attempt to drive organic growth by incentivizing customer referrals. The new rewards distribution program will be available on Viral Loops' higher-tier plans, such as Power Plan, and is designed to boost AOV and LTV. To promote these integrations, Viral Loops and select partners may implement several marketing initiatives, including newsletters, a new product page, mutual inclusion in each other's integration directories, and social media posts. Additionally, Viral Loops and Sendoso may collaborate on an interview on reward-based referral marketing, co-promotion efforts, a featured article on the Viral Loops website authored by Sendoso, and a series of webinars and email campaigns.
Ali Tajskandar Chief Executive Officer Wishpond Technologies Ltd.
About Wishpond Technologies Ltd.
Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond is a leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company's Propel IQ platform offers an "all-in-one" marketing suite that provides companies with marketing, promotion, lead generation, ad management, referral marketing, sales conversion and outbound sales automation capabilities in one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 4,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions, including an AI powered website builder, an AI email automation tool, an AI sales agent and continues to add new AI enabled features and applications. The Company employs a Software-as-a-Service (SaaS) business model where most of the Company's revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker "WISH", and on the OTCQX Best Market under the ticker "WPNDF". For further information, visit: www.wishpond.com.
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