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: email@example.com