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Lightbank (Investment Company) is co owned by the Groupon Founders. In recent news, they made an investment of $1m in a brand & loyalty company called BellyCard.

BellyCard underlying business model is to try and increase brand loyalty by allowing customers to have just one electronic rewards card on an Ipad or Iphone App. This card can also be used on the Android App.

How you can use this in your business:

As a small business owner let’s take a step back for a second and look at why Lightbank even considered making an investment in this company.
What makes this different to other loyalty cards and why would consumers even consider using it? Would you as a small business owner even consider using this in your business model?

Here is what we have found out.

BellyCard claims this is not average rewards card where you buy 1 and get 5 free type of deals, nor do you have to carry over 10 promotional cards anymore.

There are millions of users who have Iphones and Ipads. By making the process of recording the rewards is much easier and you as a small business will get much more users.

What is the catch?

Their loyalty plan addresses the persons personality rather than be restricted to one store. The goal is to connect consumers to what they really want.

That is connecting with consumers on a much more personalized level.

To get the rewards all you have to do is scan your phone at the vendor and BellyCard will record your points. To redeem it, just take it to the vendor you want!

Now given there is an enormous amount of companies offering digital rewards, which boost using an app or iphone to record the transaction, BellyCard has differentiated themselves by proving in-house training to the local vendors and an in-store Ipad with every subscription.

Just to diverge, this is an awesome technique used by cell phone companies to attract customers by reducing the cost of getting the cell phone device and making their revenue based on the yearly contract. BellyCard is using a know model to increase its market share. It creates a win, win situation for everyone.

In fact over 200 vendors have applied to their program in Chicago.

Creativity & Brilliant Marketing By Small Business Owners:

It is also boosting really funny rewards.

A comic book owner has a reward where you can get the opportunity to punch him in his tummy.

Yes I said punch him.

I hope to god he works out, to other rewards include a bakery that is offering you the opportunity to eat as much cupcakes as you want in 10 minutes.

These local businesses understand the importance of engaging their clients and designing their products to meet customers’ needs.

Ok may be getting punched in the stomach is a bit far but you can easily use this opportunity to create a marketing event for your local store. You can up flyers near your store to posting on Facebook, to get a ton of people over to your store.

But I am sure you get the idea.