PromoXchange to assist businesses revolutionise reward system

PromoXchange has unveiled its state-of-the-art technology solution that effectively turns a mobile phone into an account that earns and accumulates points on transaction of goods and services. This was created to help businesses revolutionise the reward system and skid off the probability-laden raffle-based reward pattern, which has for long held sway.

The unveiling of the innovation, which took place at a media launch recently, was attended by various brand representatives, who in partnership with promoXchange subscribed to the platform.

“PromoXchange solution is as easy as sending SMS,” said Adebiyi Oke, co-founder and managing director, promoxchange.

“There are no entry barriers and they are available on all GSM Networks and also as mobile apps for smart devices. Considering that the mobile phone penetration in the Nigerian market now stands at about 80 percent and growing, it means that no matter where a product is sold, you would find a brand customer or a potential customer owning a mobile phone. Consequently, we see an opportunity to influence transaction and consumption behaviour through an innovative solution that connects mobile phone users who are also sales merchant, brand customers to their favourite products or brands at anytime and anywhere,”Oke said.

“Sequel to years of careful research and development, PromoXchange has been crafted as a highly disruptive technology seeking to challenge the status quo in the Nigerian and African loyalty reward
environment. PromoXchange provides several compelling tactics that ensure that channel partners, brand customers, including consumer behaviour are influenced, which ultimately results in increased transaction and consumption of products, goods and services. In the long run, together as partners, PromoXchange works with brands towards stimulating product usage that drives your brand success in the market place,” he further said.

“The truth is that the brands know the customers one by one in terms of the level they belong to on the ladder. So basically, when the customer does a transaction, he earns some points. Take for instance, accounts that are dormant in banks. When a bank notices this, it can contact the customer and engage the customer by telling him to deposit a certain amount in order to earn some points. The marketing system we have these days does not encourage customer engagement in terms of actual transactions. People believe that it is for the gain of the banks and so, no one is willing, but the marketer has a very strong tool to tell the customer that this is going to earn you something at the end of the day and that they are going to be rewarded by putting their money in the bank by earning points which they can use to earn some reward. So the customer is tied to that brand and would be encouraged to do more transactions with such a brand,” he explained.

Ade Aderintan, Chief Operating Officer, CarBoss, said, “If you are trying to add value in any system, is to look for ways to use technology to resolve issues where they are found.”

Odinaka Anudu