Startup Pitch: Bolder’s Doing Good Drives Engagement and Sales for Companiesby 3p Contributor on Friday, Oct 8th, 2010 ShareClick to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Google+ (Opens in new window)Click to email this to a friend (Opens in new window)Click to print (Opens in new window)Ed Note:We’re trying something new with Startup Friday – a sponsored start-up pitch. These are companies that trust our readership to judge their big idea. Learn more about sponsored pitches here, and please let us know what you think of our concept, as well as our inaugural pitcher, Bolder below…Bolder is a new start-up, which provides a platform for businesses to reward their customers for small, good actions. For example, a free coffee for biking to work. Bolder’s goal is to help brands inspire positive action in the real-world and recognize their customers in a new way.Here’s how it works: on the Bolder platform, brands issue “challenges” for their customers to do small, positive things, such as ditch bottled water for a day or discover your local CSA. When customers report back after completing a challenge, they get tangible rewards (think coupons) from their favorite brands, like Seventh Generation, MiiR bottles, or prAna. Brands encourage people to do all kinds of good things on Bolder, and they are seeing the value. A recent challenge from MiiR bottles inspired 300 people to ‘ditch bottled water for a day.’ MiiR rewarded people who completed their challenge with 30% off their next purchase. Because people earn their coupons, they use them. The average redemption rate of coupons on Bolder is 30%, a nice bump from the traditional coupon redemption rate of 1-3%. Another challenge from Seventh Generation inspired 600 people to ‘wash on the cold/cold cycle’ and rewarded them with 20% off their next purchase.Companies like MiiR, are excited to use Bolder as a new way to engage with their customers. Brands struggle to find content worth pushing to their existing communities on Facebook, Twitter, and E-mail. Bolder allows brands to stand up for what they believe in and encourage their community to stand with them. By offering a clear call to action and value to the customer, Bolder is seeing engagement rates 20x higher than traditional social media. Sales, engagement, real-world positive action. Win, win, win.What do you think? Are you a business that wants to team up with your customers to inspire positive action in the world? Start a challenge on the Bolder platform! Contact: firstname.lastname@example.org TriplePundit has published articles from over 1000 contributors. If you'd like to be a guest author, please get in touch! Follow 3p Contributor @triplepundit 8 responses I love this idea, but my big question is how do you ensure that folks actually do the tasks they commit to? Or does it matter? Cool concept –You know, I don’t think it matters if anyone actually verifies the act, the point is that you have to provide some evidence of it in the form of a facebook posting or tweet or whatever. That reinforces the notion of positive actions regardless of what percentage of people actually do it. More importantly, from the perspective of a company, it’s great viral marketing! Pretty good idea – basically Group On, but you have to tell the world about what you’re doing. I like it. From a branding perspective, for companies that use Bolder, this is brilliant. You get customers to willingly think about your brand for a whole day, then you reward them with discounts off your products. I’m happy to hear the positive comments about what we’re doing at Bolder – we love questions, suggestions, or even helpful criticism as we refine our value offering to businesses and the world! You guys have already hit the nail on the head with regards to verifying that a person ACTUALLY does the action. That’s not what we’re trying to do – it’s on YOU, but at least we’ve gotten people thinking about the ways they can lead more responsible lives. It’s all about mini-activism, small changes in 1 persons life, multiplied by hundreds of people can make a real difference. I like to think of it as the place where Cause Marketing from businesses meets Mini Activism from consumers. Just wondering… what happened to bolder? Hi,I am young entrepreneur student from Finland and I would highly value tips how to improve my sales pitch.You can see my sales pitch at traveling salesman Tampere Seminar from link below. Just wondering… what happened to bolder? Comments are closed.