Chicago, Illinois, United States - 07/21/2021 — Karrot is working with the stock rewards company to bring an innovative and impactful new reward mechanism to their retail partners
With a deep understanding about the impact of motivation, Karrot builds loyalty programs that promote a great customer experience and foster strong, long term relationships. Karrot has seen that ownership creates an emotional bond between people and brands - whether it’s owning the product, or owning shares of the company.
Together, Karrot & Bumped, will provide a simple path for companies to build that emotional connection with their consumers via fractional shares of stock as a reward.
“We are pleased to partner with Bumped, allowing us to offer an additional carrot for our brand partners to use”, states Ernie Naylor, President & Co-Founder, Karrot. “This partnership will allow us to foster increased loyalty and help our clients build an emotional connection with their key stakeholders.”
“Our work pioneering ownership as a reward shows that stock rewards can create a win-win incentive,” says David Nelsen, CEO & Founder of Bumped. “A symbiotic relationship between brands and their customers that helps foster emotional connection, return on marketing investment, and lasting impact in a way that traditional rewards cannot.”
Bumped conducted a two-year pilot to measure the impact of stock rewards on consumer behavior. The findings of the holistic Bumped pilot were researched and reported on by The Columbia School of Business, who released theirindependent study in February 2021. Researchers found that weekly spending at the selected brands jumped by 40% after people received their brokerage accounts – an average of $23 per week across 80 different brands.
An external survey done by Chief Marketer Magazine revealed that 66% of respondents believed that stock ownership increased the likelihood of spending with the brand they own.
Karrot is a loyalty and engagement company that is both data centric and people oriented. We help companies build loyalty, enhance their customer’s experiences and develop strong lasting relationships. Our insights help build and inspire programs that engage and drive an audience to a desired behavior and impact bottom line success.
Bumped is a tech company on a mission to create an ownership economy. Bumped’s technology gives consumers the power to turn their everyday spending into free stock ownership, and its suite of tools helps businesses reward their customers in fractional shares of stock. Bumped believes that we all create the economy together, and we all should have the opportunity to benefit from it.
The Bumped app and website are operated by Bumped, Inc. Brokerage services are provided by Bumped Financial LLC, member FINRA /SIPC . More about Bumped Financial LLC on FINRA’s FINRA BrokerCheck website.
Investing in securities involves risk, including possible loss of principal: Not FDIC Insured • No Bank Guarantee • May Lose Value. Nothing here should be construed as an offer to purchase or sell securities.
Media Contacts:Company Name: Karrot