SAN MATEO, CA--(Marketwire - Sep 6, 2012) - FreeMonee Network, the world's first and only provider of consumer gift incentives, has been honored by the Direct Marketing Association (DMA) as the 2012 Innovation Awards winner in the Digital Media Marketing category for its FreeMonee Gift Network. The honors will be presented during the DMA2012 Annual Conference & Exhibition, which will be held October 13-18 in Las Vegas.
The DMA Innovation Awards, sponsored by Google, recognize the innovative advances being made in marketing technology. Innovation can be in the form of new-to-market offers, standing solutions addressing complex business problems, market-leading solutions, or some new approach altogether that improves the efficiency or effectiveness of the programs. Finalists and winners were selected by a distinguished panel of judges.
"The continued integration of data, social, mobile, and creative through the use of digital marketing technology is changing the way that marketers can interact with consumers," said Bruce Biegel, senior managing director, Winterberry Group, and an Innovation Awards judge. "The marketing possibilities enabled by the outstanding 2012 entries were a significant step forward in this evolution."
The FreeMonee Gift Network generates Customers On-Demand for stores and restaurants -- delivering who they want to attract, when they want them, with the scale necessary for a positive impact on their business. FreeMonee Gifts are cash incentives delivered to millions of people every week through the cards they already use to make purchases. FreeMonee's Gift Underwriting Engine uses enriched, anonymized data about how people spend to ensure gifts are relevant and valuable to the recipient, resulting in high return on advertising spend for merchants.
"To be recognized by the DMA for what we consider a game-changing innovation is great validation," said Gadi Maier, CEO, president and co-founder of FreeMonee. "We created FreeMonee Gifts to serve a massive unmet need among marketers: a tool that could eliminate the vast inefficiencies of the $300 billion couponing and direct marketing spend. After three years of hard work, FreeMonee Gifts have proven to efficiently deliver incremental, profitable new sales at the scale our national clients require, establishing FreeMonee as a company that will fundamentally change the economics of advertising forever."
With the simplest, most effective incentives available, FreeMonee has introduced science-backed marketing made possible by its innovative Gift Underwriting Engine. FreeMonee is able to deliver compelling gifts at scale without risk by predicting spend associated with each gift given. The result is significantly higher return on investment than marketers get from traditional coupons and promotions. FreeMonee clients are seeing an average incremental lift of 400-700 percent, and more than 500 percent return on ad spend.
About FreeMonee Network
FreeMonee is changing the economics of advertising by enabling stores and restaurants to attract Customers On-Demand using FreeMonee Gifts. With its unique new consumer incentive, FreeMonee delivers gifts of money directly to cardholders of the largest financial institutions. Customized to precisely match consumer interest, gifts allow consumers to purchase anything they want at designated stores or restaurants -- no strings attached. The gifts are made possible by FreeMonee's proprietary Gift Underwriting Engine, which accurately determines the right gift to ensure the highest level of consumer interest and the best return on ad spend for a merchant. Unlike traditional coupons or offers, FreeMonee Gifts feel like a gift card from a friend -- money to spend at places consumers like. For retail marketers, FreeMonee Gifts enable brands to attract large volumes of profitable, incremental customer visits -- without discounting. For banks and credit card companies, FreeMonee provides the opportunity to positively engage customers and strengthen loyalty.
Founded in 2009 and located in San Mateo, California, FreeMonee is led by former executives of Google, Visa, Oracle, Cisco, Procter & Gamble and Coca-Cola. To date, FreeMonee has raised $45 million in funding with investments from Charles E. Ryan, Opus Capital Ventures, Redpoint Ventures and Sutter Hill Ventures, among others. Through continued partnerships with the top U.S. financial institutions, the company expects 50 million households to have access to FreeMonee Gifts in 2012. For more information, please visit www.freemonee.com.
About DMA2012 Conference & Exhibition
The DMA2012 Annual Conference & Exhibition: The Global Event for Real-Time Marketers is the world's largest gathering of cross-media/channel marketing professionals. DMA2012, which will be held October 13-18 in Las Vegas, will feature keynote presentations, educational sessions, roundtables, case studies, white papers, and research reports. DMA2012's exhibit hall will feature hundreds of exhibiting companies. For additional information, or to register for the six-day multichannel marketing event of the year, please visit http://www.dma12.org.
About Direct Marketing Association (DMA)
The Direct Marketing Association (www.the-dma.org) is the world's largest trade association dedicated to advancing and protecting responsible data-driven marketing. Founded in 1917, DMA represents thousands of companies and nonprofit organizations that use and support data-driven marketing practices and techniques.
In 2012, marketers -- commercial and nonprofit -- will spend $168.5 billion on direct marketing, which accounts for 52.7 percent of all ad expenditures in the United States. Measured against total U.S. sales, these advertising expenditures will generate approximately $2.05 trillion in incremental sales. In 2012, direct marketing accounts for 8.7 percent of total U.S. gross domestic product and produces 1.3 million direct marketing employees in the U.S. Their collective sales efforts directly support 7.9 million other jobs, accounting for a total of 9.2 million U.S. jobs.