Spring Rewards Targets Nashville Malls for Growth
Published on: Wednesday, June 29th, 2016
A card-linked loyalty program targeting shopping malls across the country is investing heavily in Nashville.
Spring Rewards announced a partnership this month with Simon Property Group to bring its mallwide rewards program to Opry Mills, shortly after Spring Rewards launched at The Mall at Green Hills.
The 3-year-old startup also has a corporate office in Nashville, which is the company’s biggest market outside of Chicago.
Spring Rewards was born from the founders’ desire to connect digital marketing with in-store outcomes, typically offering cash back deals to drive customers into stores and restaurants. The program links directly with Visa, MasterCard and American Express.
Customers sign up for the free-to-join program with an email and phone number and a credit or debit card. Customers then receive real-time updates via email or text on how close they are to redeeming a cash back reward.
At Opry Mills, the newly launched Simon Insider program with Spring offers members $20 to spend at the mall for every $250 spent at the shopping center. Members who spend $1,000 or more in a month can gain access to new Simon Insider reserved parking spaces near primary entrances.
“We have been evaluating a loyalty program concept for almost five years,” said Ed Vittoria, Simon Property Group’s vice president of loyalty, marketing and innovative partnerships. “…We’ve known all along that the secret to making something like this work is to integrate the credit cards that our shoppers already use, and making it very simple for the consumer to register the card.”
Enter Spring Rewards.
The program is intended to streamline rewards programs, particularly at malls where there are often more than 100 retailers. It also eliminates extra cards, coupons or vouchers.
The company has launched at 30 malls across the U.S. with plans to launch in another 40 by the end of the year. The two- to three-year growth plan is to launch at 400 malls, said Jonathan Dyke, Spring Rewards co-founder.
Spring also works with small local restaurants and retailers to offer rewards to customers, such as a $10 cash back reward from Craft Brewed when you spend $250. The 90-plus Nashville businesses offering Spring Rewards include Bagel Face Bakery, Blackstone Restaurant & Brewery, Epice and Hot Yoga Plus.
“There’s a big opportunity (at malls) just because of the concentration of commerce, the merchants and the shoppers,” Dyke said. “Malls become anchors for us to build an audience, a digital footprint, in which the local merchants can participate in.”
Spring Rewards has 1,000 clients in the U.S. with 300,000 consumers in the Spring Rewards system.
The database of shoppers also gives businesses invaluable information about their consumers such as average spend and frequency of visits, Dyke said. For example a restaurant could track all the customers who haven’t visited the business in 90 days and then offer those customers a $5 discount to come eat on a particular day.
For more information and to see participating businesses, visitwww.springrewards.com.