Goody Card, a groundbreaking smartphone based digital customer loyalty programme, has raised $750,000 in a recent capital raise. The funds will be used to fuel its rapid growth and the company's move into enterprise and larger business sectors.
Some of the new capital will be spent on further developing the Goody platform, which includes adding a vast array of new features to improve merchant business intelligence and rewarding consumers.
Goody's interim goal is also to increase brand awareness, and to educate Kiwis on the benefits of ditching paper-based loyalty cards, and opting for an app-based, universal programme.
New investors include the Bhatnagar family, who are top five investors in NZX listed Push Pay, a multiple award winning mobile payments business, through its Alliance Equities Ltd vehicle. The firm is joined by four other new shareholders, including Sir Stephen Tindall's K1W1.
“We are aiming to have 1 million Kiwis using Goody Card by October 2017,” explains Goody Card founder, Gorran Marusich. “To keep up with this fast growth, we’ll be investing in more staff resources to serve our customers, and to ensure we’re delivering a high-end loyalty and marketing solution.”
“The capital raise is a positive move both for the future of Goody Card and for our business clients and members,” he adds. “It will help us keep growing, meaning we can make the service available to even more people. We are committed to becoming a market leader in cloud-based customer loyalty.”
Fast-growing Goody Card now has 400,000 members signed up, and a network of 730 New Zealand merchants. This includes the McDonald's owned McCafe network, Lumino The Dentists, AUT, Jesters, Host Accommodation, and GAS Petrol Service Stations. Goody looks forward to announcing further high-profile businesses before Christmas.
The simplicity of the Goody app combined with the powerful business intelligence offered to merchants makes Goody a compelling loyalty programme for businesses. Says Brian Baker, a McDonalds franchisee, “It works, it’s easy and is perfect for our business."
Goody was started in 2014 by Gorran, and joined early in the business by Shane Bradley, Internet entrepreneur. Goody replaces traditional loyalty programmes. Businesses are provided with their own in-store, branded tablet. Customers can either download the free Goody mobile app or use a physical loyalty card to scan on the tablet. This enables retailers to keep track of how often customers come in and offer them rewards for repeated business more effectively than the traditional stamp card.
The customer’s current points and rewards options are displayed on the tablet screen when they scan their card or app and are also accessible online. The points are unique to each business. One business might offer free coffees, while another might provide hot lap tickets after a certain number of purchases. The flexibility of the programme and cloud software means businesses can customise their rewards to their particular consumer audience.