LocalMaven Announces First Platform to Monetize Word-of-Mouth Referrals

First-of-its-kind app facilitates the giving, receiving and tracking of referrals between businesses, promoters and customers

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LocalMaven

Jul 08, 2014, 12:14 ET

NEW YORK, July 8, 2014 /PRNewswire/ -- LocalMaven today announced a breakthrough online platform and mobile app that empowers businesses and rewards influencers for word-of-mouth referrals. Through the platform, well-connected individuals, or "Mavens," earn commissions by engaging with their favorite businesses and sharing enticing deals with new customers. Customers receive referrals at their actual point of need, making LocalMaven a new form of directional marketing.

LocalMaven creates a win-win-win situation where businesses, Mavens and customers all receive tangible benefits. Using the LocalMaven platform, businesses can now greatly expand their customer base by leveraging the social networks of their Maven promoters and their passion to share deals with potential new customers. Customers gain access to unique offers and do not have to spend upfront for coupons they may never use.

"From the beginning of time, word-of-mouth referrals have been a valuable source of customers for businesses of all types," said co-founder and CEO Arnon Rosan. "With LocalMaven, we wanted to automate and simplify the giving and acceptance of referrals by providing tools that allow businesses to easily connect with promoters for the purpose of distributing unique deals. No other platform has ever enabled the giving of referrals in such an organic fashion."

Key features of LocalMaven include:

Ability to build a promoter network of Mavens: Businesses can identify the best candidates to be their Mavens – either from the platform's existing roster of Mavens or by inviting top customers and associates from their social graph.
Applicable to all types of businesses: The LocalMaven platform can be utilized by businesses of all types and in any market, including fitness, spa and health services, retail fashion, entertainment, hospitality and many others.
Instant referrals and easy-to-share deals: Mavens have access to a library of exclusive deals using unique referral codes shared via text, email, verbally or through social media.
Commissions for successful word-of-mouth referrals: Each time a Maven's referral code is redeemed by a customer at a participating business, the Maven receives a commission in his or her LocalMaven account.
Deal analytics for Mavens and businesses: The intuitive platform allows businesses to monitor the deals they create, their network of Mavens, referrals, and deal related finances in order to measure the effectiveness of each campaign.

Founded in 2013, LocalMaven is based in New York City and has raised $1.4 million in seed funding from a group of angel investors.

LocalMaven is built as an online platform. The mobile app will be available for free download in the Apple and Google Play stores by the end of July. For more information or to use the online platform, visit http://www.localmaven.com/.

About LocalMaven:

LocalMaven is a unique online platform that seamlessly tracks the giving and receiving of word-of-mouth referrals. The intuitive app connects businesses with networks of promoters, or "Mavens," who are empowered to share exclusive deals that businesses create to attract customers. With LocalMaven, everyone wins, because businesses grow, their promoters get paid for referrals, and customers get access to great deals. The New York City based start-up was founded in 2013 by CEO Arnon Rosan, a serial entrepreneur with a proven track record of founding and operating businesses.

To join the conversation:
Visit: http://www.localmaven.com/
Fan: https://www.facebook.com/mavenreferrals
Follow: @mavenreferrals

SOURCE LocalMaven