PromoXchange Unveils Nigeria’s 1st Loyalty, Reward Platform

PromoXchange, a customer-centric and a first of its kind technology solution that effectively turns a mobile phone into an account that earns and accumulates points on transaction of goods and services, has debuted in Nigeria.

Speaking at the media launch in Lagos, Mr. Adebiyi‎ Oke, co-founder and managing director, PromoXchange Technologies Limited, said that for a long time, the Raffle mechanism has been used to reward lucky customers during promotion, "but the question arises, why do customers with less transaction value or less spend win at the expense of other customers that have contributed more to the business bottom line?"

According to Oke, PromoXchange provides answers to these questions and lots more by offering new and exciting ways to reward true patronage using a combination of instant and life enriching rewards to attract customers. 

He said that, apart from Nigerians been unique, mobile phones are known to be trendy, accessible and most users are attached to this device.

He said, "PromoXchange solution is as easy as sending SMS. There are no entry barriers and available on all GSM Networks and also as mobile apps for smart devices.

"Considering that the mobile phone penetration in the Nigerian market now stands at about 80% and growing. In simple terms, it means that no matter where a product is sold, you would find a brand customer or a potential customer owning a mobile phone.

"Consequently, we see an opportunity to influence transaction and consumption behaviour through an innovative solution that connects mobile phone users who are also sales merchant, brand customers to their favourite products or brands at anytime and anywhere".

Oke added that sequel to years of careful research and development, PromoXchange has been crafted as a highly disruptive technology which seeks to challenge the status quo in the Nigerian and African loyalty reward 
environment.

"PromoXchange provides several compelling tactics that ensures that channel partners, brand customers, including consumer behaviour are influenced which ultimately results in increased transaction and consumption of products, goods and services.

"In the long run, together as partners, PromoXchange work with brands towards stimulating product usage that drives your brand success in the market place".

As part of the platform innovation, PromoXchange has messaging features with highly intuitive easy to use messaging template that allows on-demand or broadcast messages at a targeted or mass messaging level, including geographical location based services, Oke explained.

With this features, PromoXchange unleash a variety of channels to drive brand messages.

The messaging feature drives the interaction and engagement philosophy of the PromoXchange solution framework.

"Brands in the banking, FMCG, insurance, airline, online and offline malls can take advantage of its business intelligence features which provides several generic reporting templates that measure engagement activities. It promises that brands will never fly blind as its extensive analytics help brands to chart a path to increased product and services patronage.‎

"PromoXchange has also deployed an Online Portal & CRM portal which is a trendy, lifestyle enhancing and exciting 'connecting hub' that takes customers interaction and engagement to heights previously unseen in loyalty management.

"Built around the portal is also the PromoXchange mobile app which gives mobile and on-the-go users the loyalty capabilities access on mobile devices for service customers and product consumers.

"Beyond exhaustive and feature-rich customer interfaces, the administrative interface helps to empower businesses by giving the sales and marketing team of brands easy application of the product and services promotional tactics and dynamics easily from their office desk thereby making the promoXchange solution an additional marketing tool for year-long loyalty and promotions at very minimal cost".

Also speaking, Adeoye Abodunrin, COO, Cubed Integrated Management Consulting‎ described PromoXchange platform as boasts of a vast redemption interface of an extensive rewards redemption partnership platform that is first of its kind in Nigeria and Africa.

It eliminates the burden of warehousing rewards for customers

To him, "It’s a total sale and marketing delight which brands can completely have their promotions, loyalty and reward operations totally outsourced, thereby helping to reduce promotions campaign budget and achieve quick ROI".

The promoXchange solution ensures flexibility and suits business customization requirement of any brand.

Abodunrin expressed confidence that ‎the solution as engagement and reward focused and when fully operational with a brand, will achieve objectives such as attracting and acquiring new customers and converting customers of other competing brands.

"The process will definitely stimulate incremental transactions and consumptions, attracting high value customers to participate in promotions and improving brand preference and loyalty amongst customers," he added.
‎