The idea is simple. To improve trust and relationships between consumers and businesses.
Loyalty. Trust. The two words are hard to separate. MyGravity’s core principle is that a loyal relationship is built on trust. In today’s digital world, data use and data ownership are a big piece of trust. The simple reality is that an increasing number of consumers want control, ownership, or insight into their data and how it is used – a recent study suggests 80% in fact (http://bit.ly/1Lohudo).
My360, our first product, is your Tesco Club Card only better. It is designed to be elegant, easy to use, and rewarding for the digital user. Most importantly it is your data.
We believe that helping a business to have a more trusting relationship with its customers leads to happier customers, better relationships, and improved profits. My360 brings this to life. We have reimagined the traditional loyalty programme to give consumers data ownership, yet still help businesses to succeed and deliver great products and services to you.
My360 brings relationships and personalisation to life for retailers. We are building the next generation of retail personalisation products focused on consumer choice and consumer trust. We have started the journey with My360, which we believe is the world’s first loyalty platform built on trust and consumer data ownership.
We also make loyalty simple for businesses. Set up takes only minutes. Monthly costs are affordable. No big investments. No hard work. We’ve done it all. My360 has been designed to provide businesses with a customisable loyalty programme and all the tools to develop a great relationship. Insights and analysis that typically only large companies can afford, trends and patterns to improve profits, marketing tools to deliver great deals to customers, feedback tools to improve based on your suggestions, and more. My360 is available for use in-store and online.
Funding to Date
MyGravity has been funded by founders, family and friends to date. The investment has been used to prove the business concept that trust has value to customers. It has also paid for the development of the core platform, apps, e-commerce plug-ins, and customer portal. We believe our business is ready to scale.
MyGravity presently has a primary revenue stream – customer subscriptions. All user features are free. Customer subscriptions are monthly payments per storefront for in-store operations. Our e-commerce customers have a single, low monthly subscription cost that is scaled by an additional per user payment that is micro pence.
We aim to expand our revenue stream in 2016 to include:
- Add-ins – Additional customer features that are pay per use. These are in development.
- Payment Processing – A small per transaction fee to process credit or debit card payments via our iPad terminal. This is in development and will help our customers lower their cost of card processing.
- Data Extensions – Integrating our data insights into larger customers for use in decision making or in their internal systems. We have already built the data platform and APIs to support this. In fact, we run our own technology as a third party. This revenue stream will provide non-personal data insights directly to customers at a fee per use or volume.