How Plink Makes Money and Future Plink Partners
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I emailed Plink and asked him how Plink makes enough money to offer such great rewards. Here is the response:
Hi Grant,
Sure, I’ll share our business model. The places where we encourage you to eat and shop (like Burger King, Kmart, Staples), give us a commission on the sales you make when the brand is in your “Plink wallet.” Meaning you have chosen to go specifically to their store and earn Plink points. Then we split the commission with you in the form of Plink points. It’s pretty simple! They only pay if you put it in your wallet.. so it’s strictly pay-for-performance. They only pay us if you shop or dine with them.
Let me know if you have other questions. I’m always happy to help!
Seems simple enough. The more we shop at the merchants in our Plink wallet, the more commission Plink earns, and the more rewards we get. I love it! I responded with a question asking about future Plink partners, stating it would be great if Plink could add more restaurants (like Starbucks and Subway) and other office supply stores (like Office Depot and Office Max). Here is the response:
Constantly. It’s running about a 9 month sales cycle. It takes a LOT of time to get those big brands to agree to give you commission. And then to get part of their advertising budget on top of that is very difficult. :) But we are close with some new ones, we’ll be adding more each month. We already have some signed on for 2014 too, that couldn’t get us any budget for 2013, so that’s great! The more big brands they see us going live with, the easier it gets. But it’s an uphill climb for sure.
It looks like Plink will continue to get better every month. I’m looking forward to 2014 and seeing who joins the Plink wallet family. If you have any questions, please leave a comment below.
To learn more about Plink, please check out:
- Introduction to Plink
- Adding Merchants to Plink
- Redeem Plink Points for Gift Cards and Airline Miles
- Plink Points not Posting?
- Plink App for iPhone and Android Smartphones
If you have any questions, please leave a comment below.