Q&A – Get to know Prizeout! A new platform that connects customers looking to spend reward/loyalty points with brands they know and love.
“We’re so grateful to have been adopted into this gift card industry family. We’re here to be a partner in every sense of the word–a teammate, a cheerleader, an ally, and a friend–to the companies that we work with, so please, feel free to reach out about ways that we can help you!”
-David Metz, CEO of Prizeout
Q: Hi Max, nice to meet you. Please tell me what you do and a little background on Prizeout.
Hello! My name is Max Calcaterra, and I’m the Director of Business Development for the UK Market at Prizeout. I oversee all new partnership opportunities in the UK. Prizeout launched in the US in 2019 and we are growing very quickly! I am part of the Europe-based team and love working from this side of the pond (based out of Amsterdam, Netherlands).
Q: In a nutshell, how would you describe Prizeout to someone who has never heard of it before?
From a consumer perspective, Prizeout is a gift card redemption platform. We live as a button on our partner websites–when users on these sites click the Prizeout button, they are then transferred to our platform and gain access to our great portfolio of gift cards (if you have ever used a Paypal button during checkout, the experience is very similar). But we are so much more than just that.
Q: Ok, so what else can Prizeout do for their partners?
Partner platforms come to us when they want their users to be able to cash out earned money or rewards/loyalty points with gift cards. These platforms love that we provide their users with both added value and a unique and diverse way to spend their earnings.
Q: Why do you think users choose the gift card option over a cash transfer or products?
I would say for two main reasons. First, this money has been earned or won! Users are looking to earmark that money for something exciting. Gift cards allow them to do that, and do it much faster than a bank transfer. So both the speed and the “pre-purchase” of a rewarding experience are very enticing. Second, we work closely with brands to do what we call ‘Prizeout Bonuses’, so there is also the opportunity for customers to get more return on their money.
Q: You said you work closely with brands, what are the opportunities for them on Prizeout?
For brands, we are combining ad tech and gift cards in a way that has not really been done before! It gives these businesses a lot of control and a closer connection to the actual end-users in B2B; which is not always easy or doable.
Q: How are you connecting brands with the end-users?
Users who are transferred to Prizeout from a partner platform create an account with us. As such, we have a robust user data set and are able to use that data to help businesses acquire, retain, and even re-engage lapsed customers more effectively. It can be a very customized and targeted platform for brands to use! But at the same time, it’s also super simple for businesses to join our platform and access this huge audience.
Q: You mentioned the ‘Prizeout Bonus’ earlier, what is that?
We offer bonuses to our customers when they “prize out”. An example would be an end-user who lands on Prizeout and sees that we are offering a bonus value on his/her favorite coffee shop gift card. When the user selects that card we will add an additional £10 upon checkout. We always position the added value as a bonus from Prizeout so that it does not look like we are discounting a brand. We work directly with brands on these bonuses, again to help them attract, retain and re-engage customers.
Q: Where do you see Prizeout in six months’ time?
We will be expanding our operation into Ireland and hopefully other European countries within the next six months. We were founded with a global mindset and are always looking for new opportunities!
Q: What would you say Prizeout is trying to accomplish in the UK market for the rest of this year and beyond?
Right now, we are at an excellent spot in building up direct relationships with brands and showing them a unique way to get their gift cards in the hands of people who are looking to spend the money/reward/loyalty points they’ve earned. We are highly interested in working with businesses of all sizes to help them increase their topline revenue sales, incrementality, lift, and program exposure. I would absolutely love for anyone interested in learning more about working with us to email me directly at firstname.lastname@example.org. We would love to hear from you!
Hadie: “That’s all we have for you today, thanks so much for taking the time and talking to us today.”
Max: “My pleasure. Thanks so much for having me!”