Published: August 22, 2005
SoftCoin Selected to Power NASCAR RacePoints(SM) Program
Purchase Validation Technology and Deep CPG Industry Expertise Leveraged for Leading Consumer Brands
SoftCoin, Inc., the leading provider of
Brand Relationship Management Solutions for consumer packaged goods (CPG)
brands, today announced it has been selected to power the NASCAR RacePoints
consumer loyalty program. Leveraging its Digital Proof of Purchase
solution and six years of CPG industry expertise, SoftCoin will provide
infrastructure and services to integrate leading consumer brands into the
program.
The NASCAR RacePoints(SM) Program
NASCAR RacePoints gives 75 million racing fans the opportunity to earn
points for making purchases and taking other desirable actions with
participating NASCAR sponsors and partners. Fans can redeem their points
for exciting race-related rewards from the exclusive NASCAR RacePoints
catalog. Rewards fall under four categories: Access & Experiences,
Collectibles & Memorabilia, Apparel, and Merchandise, and include such
items as the chance to be Crew Chief for a Day.
Already more than 800,000 consumers have registered to earn NASCAR
RacePoints from MBNA, Home123, XM Satellite Radio and others. SoftCoin's
technology and services will enable consumer packaged goods manufacturers,
retailers and service companies who are official sponsors and partners to
issue NASCAR RacePoints to reward consumers for their purchases.
SoftCoin Technology and Industry Expertise
The Digital Proof of Purchase (DPP) solution, powered by the SoftCoin
BrandConnect(TM) Loyalty Platform, begins with generating hundreds of
millions of secure, 16-character codes that are delivered to participating
NASCAR sponsor brands. These digital proofs of purchase are then affixed
on or inside the product packaging or printed on a voucher that is handed
out at point of sale. Through on-package messaging, consumers are
instructed to enter the unique code in their NASCAR RacePoints online user
account. The unique code is submitted to SoftCoin using a real-time web
service call and is promptly validated against SoftCoin's code database,
providing consumers with instant point verification.
"SoftCoin's Digital Proof of Purchase solution integrated seamlessly into
the NASCAR RacePoints platform and has allowed us to broaden our
capabilities easily and quickly," said Thorp Foster, President of NASCAR
RacePoints. "With the purchase verification system now fully integrated
and tested, SoftCoin provides a turn-key solution for many of the world's
leading brands to securely issue NASCAR RacePoints to millions of
consumers."
In addition to its strong technology foundation, SoftCoin brings years of
expertise working with brands to solve the operational challenges of
getting unique codes printed on or inside a physical package. Additional
brand integration services provided include business and cost analysis,
code application equipment sourcing and on site operational support.
"In just a matter of a few weeks, SoftCoin fully understood our business
requirements, generated and issued the unique codes, and supported our
operations team throughout the code application process," said Alan
McKirby, Brand Manager for Goody's Headache Powder, a product within the
portfolio of GlaxoSmithKline Consumer Healthcare. "SoftCoin's technology
and industry expertise allowed us to integrate Goody's Headache Powder to
the NASCAR RacePoints program with relative ease."
"The Digital Proof of Purchase solution offers a proven framework for mass
marketed brands to verify specific consumer behavior, including product
purchase," commented Armen Najarian, Director of Product Management for
SoftCoin. "We are honored to have been selected to power the NASCAR
RacePoints program and are excited to work with many of the world's leading
brands to support this effort."
About NASCAR RacePoints(SM)
NASCAR RacePoints is operated by Stoneacre Partners, LLC, a leading
developer of affinity and customer loyalty programs. Stoneacre has secured
long-term, exclusive rights from NASCAR to create, develop and manage the
NASCAR RacePoints program. Stoneacre and NASCAR are working closely with
numerous sponsors, licensees and promotional partners to develop earning
opportunities and rewards for participants in the NASCAR RacePoints
program. Stoneacre manages fan relationships for the entire sport of NASCAR
by directly connecting the sport to its avid fans. The Stoneacre Partners
team has a long history of creating and developing some of the most
successful customer loyalty initiatives in history, including Marlboro
Gear, Pepsi Stuff, and the Beanie Babies Official Club.
About SoftCoin
SoftCoin®, Inc. is the leading provider of interactive marketing
solutions for consumer packaged goods and other consumer-focused
industries. Leveraging its BrandConnect(TM) technology and integrated
services, SoftCoin converts offline purchases into online brand
relationships, delivering measurable revenue increases, engaged, loyal
consumers, and lower program costs. SoftCoin's packaged solutions have
powered more than 60 interactive marketing programs for brands including
Cadbury-Schweppes, Johnson & Johnson, Nestle, and Sara Lee. Technology and
channel partners include premier marketing services agencies and leading
media networks. SoftCoin is a venture-backed, privately held company, with
headquarters in the San Francisco Bay Area, and direct sales offices in
Chicago, Cincinnati, Princeton, and Dallas. For more information visit
www.softcoin.com.
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