Reward Platforms/Programs, Part 1
Tech and loyalty rewards platforms that would compete against Colu in the US market are the 3P Partners, Moovel, VirginPulse, and Morgan Properties as stated in the attached spreadsheet.
3P Partners, Inc.
- It picks for positive impact points digital reward platform that leverages technology, gamification, and point to reward daily life choices benefits for the planet and individual such as walking, biking, using renewable energy, or buying sustainable made clothes.
- The company deliberately addresses the target user or partner in their websites, such as wide city residents, cities and towns, schools and universities, businesses and NGOs.
- Once a customer installs the app, the app shows a map of the customer's location, and the map loaded with points that are each representing check-in points or environmentally friendly companies.
- The platform's positions itself altruistic, a mindful force that helps create a better world by rewarding good deeds.
- The company calls for the use case of the point. For instance, users earn points once they make healthy choices, shop responsibly, and go paper-free. Then, it says that the points can be used for more good deeds such as donation, buying better products and unlock scholarship.
- The company's marketing messaging and wording is more like non-profit and it directly addresses the customers and calls them to action.
- Moovel is an Ohio based company ticketing solutions for transit agencies in North America. Upon acquiring Validated, a digital reward platform that partners with businesses, universities, retailers, and restaurants, the Moovel entered into the reward & loyalty platform business.
- The mobility reward users collect reward points when they spend at the shops that enrolled in the program.
- With the mobility reward, the users can transport through public transport, shared mobility services, and it will, in turn, reduce traffic congestion and support local businesses.
- The company is targeting local transit agencies, shared mobility services, and local businesses.
- The Moovel positions itself first and foremost as the leading provider of mobile ticketing solutions in North America. The mission statement says, "Our vision is a world without traffic jams" and "Simplifying urban mobility."
- The company messaging does stress on "city life" and "open city", and on its reward program, messaging was on supporting the local businesses and reconnecting with the local community experience."
- Ultimately, its marketing is to connect the public transport commuters to the merchant community.
- Virgin Platform is market-leading mobile-first well-being technology solutions that help the organization to keep their employee to be healthy and productive.
- A wearable device connected to mobile application controls the wide range of the health metrics of the user, such as health assessments, bio metrics, and sleep among others.
- The company promises, "happier, healthier, more productive workers and higher-performing organizations."
- When the company partnered with Medica on its "My Health Rewards" program, they entered the digital reward platform business in the US. The program was implemented in the city of Minneapolis in 2020.
- Users can earn points by being healthy, building healthy habits.
- For instance, with 3,000 points, an individual qualifies for a discounted wellness rate on their 2021 health insurance premiums.
- There are several ways to earn a point, like taking mass index, blood glucose, cholesterol, and a blood pressure test and earn 1,000; reporting on the date they vaccinated worth 250 points.
- The company positions itself as a "positive, high-tech, friendly" company that helps both companies and employees.
- VirginPulse targets bigger companies by showcasing successful business cases, customer statistics and use cases.
- The 19th largest apartment owner and operator in the US, Morgan Properties entered the digital reward platform space in 2019 with the launch of Modern Message.
- With the Modern Message, residents can earn points by completing various community-related tasks. For example: sharing feedback, taking online polls/surveys, renewing their lease, signing up for updates, generating referrals, and interacting with their apartment community on social media.
- The reward platword lets the users redeem their points at local stores, such as Starbucks and Target among others.
- Morgan Properties positions itself as one of the leading apartment owner and operator in the United States.
- The company messaging emphasizes on "home, neighborhood, and good community".
- The Modern Message's main target audience is the local communities and property, management teams. Their image is more professional, reputable and expert.
- With the launch of Modern Message, Morgan Properties started to focus on the community and engagement by saying, "we believe the more engaged a community is the more valuable the experience" and "we hope that by rewarding our residents via Modern Message throughout the resident life cycle, the many who call our communities home will feel even more like valued members".
Your Research Team Applied The Following Strategy
To identify the direct competitor of the Colu in the US market, we narrowed down the digital loyalty and reward platforms with two criteria, first, it operates in the US at the city level, and second, it shares value and focus with Colu in their mission or messaging, like (community, engagement, sustainable and healthier, local businesses). Even though there were many digital loyalty and reward platforms in the market, most of the companies did not pass the criteria due to focus on sales-driven messaging and not sharing values with Colu's.