James Courtney based LUX Rewards while finishing his Enterprise Administration diploma on the College of Tub. Utilizing his expertise as a administration advisor for IBM and PwC, he noticed a spot within the restaurant promotion marketplace for a premium various to discounting. He led the enterprise by means of a number of fairness funding rounds, totalling half one million kilos and together with funding from JUST EAT Plc.
James chatted to Niamh Butler-Walton about his skilled historical past and the traits he’s noticing inside the business…
What’s your position and what does it include?
I’m the Founder and CEO of LUX rewards. I like getting strategic, testing out new propositions, managing the event of recent know-how, hiring gifted folks to affix our mission and constructing a group tradition of positivity and proactivity! There’s additionally some authorized, accounting and compliance work (which I don’t love fairly as a lot) however hopefully not for for much longer as we develop the group.
What do you get pleasure from most in regards to the efficiency advertising and marketing business?
While an overused phrase, creating “win-wins” is one of the best feeling for me. The efficiency advertising and marketing business will not be about defeating others, however creating significant partnerships that drive actual worth for all stakeholders concerned. When accomplished correctly, prospects ought to really feel rewarded, manufacturers ought to achieve good repeatable revenues and publishers ought to obtain a good minimize for connecting the dots and introducing new applied sciences.
Who’s your efficiency advertising and marketing hero and why?
My father is my inspiration. I grew up discussing his enterprise ventures with him across the dinner desk. He launched “pay per outcomes” to the website positioning and efficiency advertising and marketing sector on the break of the millenium. This pricing technique alone enabled him to distinguish from the fixed-fee rivals and he was capable of cost a better value by guaranteeing outcomes. As an adolescent, I noticed for myself the lengthy queues he was producing at enterprise expos and occasions.
Who in your group deserves extra recognition that they get? (The unsung hero)
Tom Munday is a beacon of brilliant gentle on the coronary heart of the group. You may’t knock him down! In the event you’ve ever had the pleasure of emailing Tom, you may need been fortunate sufficient to obtain one in every of his legendary video replies. (PS. e mail firstname.lastname@example.org if you wish to see for your self what it’s all about).
What traits are you seeing working with advertisers?
I’ve seen a requirement for extra native content material and extra segmented (and closed) audiences. Most programmes have a handful of mass-market manufacturers, however native eating places and retailers appear to be a sizzling subject. I’ve additionally seen manufacturers be extra selective in regards to the programmes they apply to, because of the model associations but additionally the relevancy to prospects. Lastly, card-linking is a game-changer, particularly for instore purchases. We use this at LUX and it gives an excellent easy buyer expertise, while serving to manufacturers to reward transactions throughout the net and bodily worlds.
How has the position of affiliate networks modified during the last 12 months?
Expertise is rising in velocity yearly. Affiliate networks have tailored nicely by placing knowledge on the coronary heart of their platforms and presenting that knowledge in a manner that may drive extra insights. In addition they have a duty to champion new applied sciences like card-linking to the manufacturers they work with.
What one factor would you modify in regards to the business?
I’d prefer to see extra worth handed right down to publishers and programmes that give worth again to prospects (cashback/rewards) than those who merely push web site visitors by means of to hyperlinks. Recognition that rewarding prospects can drive extra loyalty, repeat customized, referrals and better basket worth.
What’s your high tip for advertisers?
Challenger banks have began partaking in rewards (we’re already working with some). There was quite a lot of hypothesis about how they’re going to monetise their massive person bases (most are making massive losses) and now is a good time to associate with them. They may drive know-how change at a a lot sooner tempo than the business is shifting in the intervening time, so greatest to have your finger on the heart beat.
What different areas of the business are you able to see your self working in sooner or later, maybe?
I’m an entrepreneur at coronary heart. No business is protected!
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