LoyalTree Named a Tech 50 Finalist

Originally published August 18th, 2014 at 11:46am by Deborah M. Todd of the Pittsburgh Post-Gazette. See original post here

A celebration of blockbuster deals and attention-grabbing product launches by the region’s tech companies has been narrowed down to the region’s most eligible contenders of the year.

On Saturday, Pittsburgh Technology Council announced the 50 technology companies and individuals chosen as finalists for the 2014 Tech 50 Awards. Now in its 18th year, the Tech 50 Awards were created to honor local innovators and the companies that have been built around their expertise, said PTC president and CEO Audrey Russo.

“This year’s Tech 50 Awards mark almost 20 years of trailblazing tech companies. We look forward to celebrating the achievements of this year’s finalists and recognizing the region’s continued innovation in technology,” she said.

The companies and individuals will be honored with their awards Oct. 21 at the Wyndham Grand, Downtown. For more information or to register, visit tech50.pghtech.org.

This year’s Tech 50 Awards finalists are:

■ Advanced Manufacturer of the Year: Aerotech, Inc.; eVProducts Inc.; GiftCards.com; Industrial Scientific Corp., Lanxess; Universal Electric Corp.

■ Ed Tech Company of the Year: Acrobatiq; BirdBrain Technologies; BloomBoard; Panther Learning Systems Inc.; Wombat Security Technologies Inc.; Zulama

■ Innovator of the Year: Aquion Energy Inc.; Astrobotic Technology Inc.; Blue Belt Technologies; Iagnosis; Intelomed; Malcovery Security; Resilient Cognitive Solutions; Rhiza Labs; WindStax Wind Power Systems

■ Interactive and Application Developer of the Year: Branding Brand; DVSport Inc.; LunaMetrics; Schell Games; Snap Retail

■ Life Sciences Company of the Year: Aesynt; Carmell Therapeutics; Cernostics; Cognition Therapeutics Inc.; Net Health; Neuro Kinetics Inc.; Rinovum Women’s Health

■ Startup of the Year: Diamond Kinetics; Encentiv Energy; Forever Inc.; FutureDerm Inc.; LoyalTree; NoWait; Thread; Treatspace Inc.; WebKite

■ Solution Provider of the Year: Advantech US Inc.; AEC Group Inc.; C-leveled; First Insight Inc.; Newton Consulting; SDLC Partners; Sherpa Software; Summa Technologies

■ CEO of the Year: Kraig McEwen-Aesynt; Peter DeComo-ALung Technologies; Jason Wolfe-GiftCards.com; Ware Sykes-NoWait; Stephen Bollinger-Rinovum Women’s Health

Deborah Todd: dtodd@post-gazette.com.

Read more: http://www.post-gazette.com/business/technology/2014/08/18/Pittsburgh-Technology-Council-announces-Tech-50-finalists/stories/201408180129#ixzz3B8yp6CwR

What Are Experiential vs. Transactional Rewards?

Sushi ClassAt LoyalTree, we encourage all of our business owners or loyalty program managers to fill their rewards store with a healthy mix of experiential rewards and transactional rewards. Having a good mix is very important for having a successful program so this post is devoted to explaining them clearly and describing the benefits of each.

A transactional reward is when a percentage or dollar amount discount is offered. The actual experience of eating at your restaurant, getting a massage at your spa or shopping at your store stays the same. At the end of a customer’s usual experience, she or he receives a discount.

An experiential reward changes the actual experience of receiving your services. Either a new, unique, personal experience is offered, or the existing experience is heightened in some way. Here are some of our favorite experiential rewards offered by LoyalTree business owners to serve as examples:

– Private Sushi Rolling Lesson at 1000 points

– Name a menu item after you at 1500 points

– Private Authentic Mexican Breakfast for 6 at 2500 points

Experiential rewards and transactional rewards each have ideal uses. Transactional rewards are great for enticing new customers to give you a try, or incentivizing a repeat visit. Transactional rewards can be used to appeal to a younger or lower income demographic. Using a loyalty system that allows you to keep track of and stay in touch with customers who redeem a discount reduces the risk involved with offering a transactional reward to attract new customers. (Deep discount services like Groupon or Living Social can be harmful to your bottom line, and offer no way of keeping in touch with new customers who redeem their coupons. Fortunately, we know of a loyalty system that solves that problem!)

Experiential rewards are great for encouraging loyal customers to save up points, rather than spending their points right away on less valuable rewards. Experiential rewards also tend to appeal to a higher income demographic who are less concerned with saving money and more interested in VIP treatment. Experiential rewards can come at little or now cost to you as a business owner, depending on what you offer (ie: sushi rolling lesson or naming a menu item in honor of a long standing loyal customer). The possibilities are endless! Experiential rewards also encourage organic social media engagement, as your customers are more likely to generate original content about a unique experience than a transactional reward. This type of engagement is great for your net promoter score.

Have some great ideas for experiential rewards? Leave us a comment to share!

Penguins app-based loyalty program wins award

Written by Patty Tascarella. Originally published on August 4th, 2014 at 10:38am EDT. See original story here.

 

Add technology innovation to the awards garnered by the Pittsburgh Penguins. The Sports and Entertainment Alliance in Technology honored David Peart, Pens’ senior vice president of sales and service, with its InStadium Experience in Innovation award for sponsorship sales.

Peart was cited by a panel of professional sports peers for Pens Points, the first mobile app-based loyalty program in sports. It was created with Pittsburgh-basedtechnology developer LoyalTree. It has about 90,000 members.

The awards single out team executives in the U.S. and Canada who find new ways to leverage technology, new media and data to drive long-term team value for their sports franchise.