Douglas Crets

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Giving Credibility to the Shadow Education System

Virtual Coin for #SavingStar

Today I interviewed SavingStar CEO David Rochon about his strategy for linking 24,000 retail outlets together through a virtual coupon strategy, and the acquisition to the company’s board of Buddy Media CEO Michael Lazerow.

Go then, read the link.

SavingStar CEO David Rochon says that his company is poised to disrupt the “arcane and monolithic” grocery couponing industry with a national plan to link real world shopping to social currencies.

Though not quite there, the innovation Rochon has in mind is one that links consumers to brands and lifestyle choices they are passionate about by virtue of virtual currencies gained through the real life shopping experience at real world retail outlets.

The strategy could involve the evolution of a Facebook virtual currency, which would enable retail brands to find consumers, but also find out the passionate interests of those consumers and link them to the right offers, creating an efficient virtual distribution of coupons that rivals the current Foursquare and American Express partnership.

According to Rochon, who formerly served as President of U-Promise, the current plan is to use a national network of over 24,000 retail outlets (not all of them in the same brand or chain) and distribute virtual coupons to customers, using data gleaned from shopper loyalty cards to create rewards exchangeable for accrued points.

Enjoy your July 4 holiday weekend.

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Filed under: Influence, Tech, Work, , , , , , , , , ,

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