Profitable, bootstrapped RevTrax now follows coupon sharing across all social media
Judging by this list of startups in the coupon category, you'd think there's no way any coupon startup could possibly be truly unique. However, profitable, bootstrapped RevTrax says it's done just that. The company is the only startup to provide coupon tracking services across all channels -- search, display, rich media, email, affiliate marketing, etc., according to co-founder and CEO Jonathan Treiber. Many coupon providers offer analytics on the coupons hosted on their own products. But RevTrax goes wide, he says.
Today, it's going even wider, expanding its services to social media channels with a new service called OpenShare. The company's SaaS platform for coupons helps clients quantify how their coupons shared on social outlets translates to in-store revenue. "The product goes a long way for clients who have a vision of social being not a channel, but a component of every digital marketing campaign," Treiber says. "They're embedding social into everything." Openshare takes it a step further, giving them the ability to track tangible ROI to their social couponing campaigns.
Perhaps the most unique part of OpenShare, he says, is that it includes the most natural form of sharing -- copying and pasting links. Who really uses built-in sharing widgets anyways? (NOT THIS GIRL!)
Groupon and the group buying fad it spawned may be dead, but as Richard noted yesterday, coupons are a treat for the female brain. In a study, one woman who received a $10 coupon felt more love and trust-related hormones than another woman experienced before her wedding ceremony. Oof.
Marketers surely get an emotional boost from effective social ROI. They've been begging for a way to measure their return on investments in social media marketing campaigns for years now. Facebook and other native advertising companies would like them to look at it as the more intangible "branding" style of investment, but the Internet, with all its trackability and data, just doesn't work that way. Brands want old fashioned results, and coupons bridge the gap between clicks, views and engagement online, and in-store sales. "Some brands will say social is about branding, and direct response marketers like us will that say its dollars and cents," Treiber says. Which is precisely what RevTrax is measuring.
Founded in 2008, New York-based RevTrax has hundreds of clients including Lane Bryant, Danone, Energizer, Stonyfield Farms, Kimberly Clark, Walgreens and Wendy's. The 40-person company, which raised a small undisclosed seed round of funding from angel investors in 2008, also announced it hired Jonathan Sroka as VP of Business Development and Partnerships, and Gu Ming Peng as Director of Product. Sroka previously led business development and marketing at Sailthru; Peng joins RevTrax from Diversified Investment Advisors.