Melville, NY (PRWEB) May 03, 2012
Today, GroupGifting.com launched MyGiftWand, a new social gift-giving service designed to make it easy for Facebook users to give, receive and redeem free and paid eGift Cards. For retailers, MyGiftWand is a powerful tool that helps them leverage the social network to reach a targeted demographic.
With 20 major brands available at launch, the company intends to expand the offering significantly in the coming months. “With signed deals to sell more than 200 major brands across the US, we are now looking within our own partner base for early adopters with ambitious plans to make social commerce a reality”, said Tyler Roye GroupGifting.com’s CEO.
The concept of the service is rather simple; millions of times every month, people are already wishing their friends happy birthday on Facebook. With MyGiftWand they can now easily add a free or paid gift card from one of the participating merchants. “In just 4 clicks, Facebook members can give their friends a free gift with that birthday wish. It’s that simple”, added Roye. If they want to add some more money to the gift they can also make a contribution and increase the cards value, but the fun doesn’t end there; the gift gets posted to the recipient’s Facebook wall so their other Facebook friends can see what’s happening and join in the celebration by making a contribution of their own, turning it into a group gift. Friends can also choose to use the system to give them a different card of their own. “We believe our service is the perfect example of social commerce in action; true friend-to-friend marketing”, added Roye.
Each day a new batch of available free cards is released. The company refers to these cards as DailyGifts. “The initial consumer response to our DailyGifts has been tremendous since we are essentially giving away money,” added Roye.
While MyGiftWand is great for consumers, it only works so well because it also benefits retailers looking to bring commerce to social spaces. The service enables retailers to choose the exact demographics of the consumers they want to target and offer an incentive if the gift recipient meets that demographic. The location, age and gender of the recipient determine what offers are available. “This is a great way for retailers to reach a target customer in a way that is fun and social and will positively impact their social brand image,” said Roye.
The company explains that this is a better way for retailers to spend their customer acquisition dollars when compared to offering deep discounts via daily-deal services like Groupon. “Some retailers are finding that they are not gaining loyal new customers with these deep discounts, and now realize that many consumers are just waiting for the next big discount to hit their inbox,” said Roye.
The company’s offering to retailers is completely performance based, a true CPA (Cost-Per-Acquisition) model; the retailer’s only pay GroupGifting.com a fee for their service when the card is redeemed. Beyond the tangible benefits, the company believes that retailers will get a lot of social good will and brand awareness for their investment. In addition to these success fees, GroupGifting.com also makes money on commission it receives for selling the retailers’ eGift Cards.
A fully imbedded Facebook app is in the works. The company also intends to launch a mobile app for Android in May and iPhone in June. The app will enable users to send, contribute, receive and redeem cards on the go. The app will also act as a digital wallet to store the eGift Cards. “Everyone is talking about social and mobile commerce and we are excited to be bringing a service to market that delivers on both fronts”, added Roye.
At only 1% of the $100 Billion US gift card industry, eGift Cards are poised for some major growth in the next few years. The company is focused on helping drive that growth. “We believe that adding the right mix of social and mobile technologies to eGift cards will also make them viral”, concluded Roye.
For retailers interested in learning how GroupGifting.com can help them accomplish their social commerce goals, visit http://www.GroupGifting.com/MyGiftWand/Retail
GroupGifting.com develops innovative social and mobile technologies designed to revolutionize the act of gift giving. Our offerings create a fun and social experience for consumers while helping retailers unlock the viral potential of gift-giving in social spaces. Founded in 2011 by a group of proven tech entrepreneurs, GroupGifting.com is based in New York. Visit MyGiftWand at http://www.GroupGifting.com/MyGiftWand