- 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
/CNW/ - 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.
Forward-Looking Statements
Statements that are not reported financial results or other
historical information are forward-looking statements or
forward-looking information within the meaning of applicable
securities laws (collectively, "forward-looking
statements"). This press release includes forward-looking
statements regarding the Company, its subsidiaries and the
industries in which they operate, including statements about, among
other things, ""references to expected results from future
operations, future growth of the Company's products and platforms,
the future development and increased use of products incorporating
artificial intelligence, the successful integration of technology
by the Company, the development of synergies between platforms and
programs, consumer preference for the Company's products, the
growth of the Company's product portfolio and future profitability,
including whether additional products or features may be developed
in the future, and the functionality and timing of such products,
financial results or operational activities that may be undertaken
by the Company, the results of the Company's cost-savings, research
and development and other initiatives, any future acquisitions or
other activities done to grow the Company both organically or
inorganically, expectations, beliefs, plans, future operations, the
impact of broader economic factors including inflation and other
general economic risks on the Company, business and acquisition
strategies, opportunities, objectives, prospects, assumptions,
including those related to trends and prospects, and future events
and performance. Sentences and phrases containing or modified by
words such as "expect", "anticipate", "plan", "continue",
"estimate", "intend", "expect", "may", "will", "project",
"predict", "potential", "targets", "projects", "is designed to",
"strategy", "should", "believe", "contemplate" and similar
expressions, and the negative of such expressions, are not
historical facts and are intended to identify forward-looking
statements. Readers are cautioned to not place undue reliance on
forward-looking statements. Actual results and developments may
differ materially from those contemplated by forward-looking
statements. Although the Company believes that the expectations
reflected in forward-looking statements in this press release are
reasonable and are based on, among other things, the expectations
and analysis of current market trends and opportunities of
management of the Company, such forward-looking statements has been
based on expectations, factors and assumptions concerning future
events which may prove to be inaccurate and are subject to numerous
risks and uncertainties, certain of which are beyond the Company's
control, including, but not limited to, economic uncertainty and
instability as a result of the ongoing inflation and supply chain
issues, higher interest rate climate, tightening of credit
availability and recessionary risks, pandemic related risks, wars,
instability in global commodity and securities markets,
advancements in artificial intelligence, changes to customer
preferences, competition, the use cases for Company developed
technology, shifts in consumer and institutional spending and
marketing strategies, risks related to data breaches and privacy,
the changing global market and competition for the products and
services supplied by the Company, and the additional risk factors
discussed in the continuous disclosure materials of the Company
which are available under the Company's profile on SEDAR+ at
www.sedarplus.ca. The forward-looking statements contained in this
press release are expressly qualified by this cautionary statement
and are made as of the date hereof. The Company disclaims any
intention and has no obligation or responsibility, except as
required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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SOURCE Wishpond Technologies Ltd.