SAN LUIS OBISPO, Calif.–(BUSINESS WIRE)– November 20, 2014 2:30 PM
SpendSmart Networks, Inc. (SSPC) (“SpendSmart” or “the Company”), a provider of digital customer loyalty systems and services, today announced initial results from the SMS Masterminds™, the Company’s mobile/digital services division, mentorship program since its launch in May 2014.
The “Masterminds Mentorship” program was founded with the initial goal of providing an innovative learning and support network for new licensees. The program has increased participation to 127 participants out of SMS’ 150 licensees through the first six months since inception. As of October 2014, mentored groups collectively grew message volume 19.5% over September.
Mentoring is perhaps the best way to collect information and organize vital “how-to” knowledge for the success of a new licensee and can be the determining factor between financial loss and gain. Mastermind mentors are encouraged to help new licensees succeed by investing their time and sharing their experiences, ultimately supporting each licensee in improving their business.
Alex Minicucci, CEO of SpendSmart, stated, “We have been very pleased with the initial results from this program, which is designed to create a network effect among our licensees. We believe this will help set SpendSmart apart from our peers, by integrating our licensees into the Company’s culture as opposed to signing and leaving each one to operate independently. Mentoring often works best when it is cross-functional, different from coaching, which may generally be carried out by an expert in the same field. Mentoring requires an organization to be forward-thinking and intent on growing its own future leaders. For some, the investment of time might be difficult. For others, there is a lack of long-term planning. Whatever the challenge may be, the ROI from mentoring is very high, and we continue to encourage our licensees to participate in the program.”
SpendSmart Networks provides proprietary loyalty systems and a suite of digital engagement and marketing services that help local merchants build relationships with consumers and drive revenues. These services are implemented and supported by a vast network of certified digital marketing specialists, aka “Certified Masterminds,” who drive revenue and consumer relationships for merchants via loyalty programs, mobile marketing, mobile commerce and financial tools, such as prepaid card and reward systems. Consumers’ dollars go further when they spend it with merchants in the SpendSmart network of merchants, as they receive exclusive deals, earn rewards and ultimately build a connection with their favorite merchants. For more information on SpendSmart, please visit www.spendsmartinc.com.
SpendSmart Networks Inc.
Alex Minicucci, CEO
Investor Relations Counsel:
The Equity Group Inc.
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