James Courtney based LUX Rewards while finishing his Business Management diploma on the University of Bath. Using his expertise as a administration guide for IBM and PwC, he noticed a spot within the restaurant promotion marketplace for a premium different to discounting. He led the enterprise by a number of fairness funding rounds, totalling half 1,000,000 kilos and together with funding from JUST EAT Plc.
James chatted to Niamh Butler-Walton about his skilled historical past and the tendencies he’s noticing throughout the trade…
What’s your function and what does it encompass?
I’m the Founder and CEO of LUX rewards. I really like getting strategic, testing out new propositions, managing the event of latest expertise, hiring proficient folks to affix our mission and constructing a crew tradition of positivity and proactivity! There’s additionally some authorized, accounting and compliance work (which I don’t love fairly as a lot) however hopefully not for for much longer as we develop the crew.
What do you get pleasure from most in regards to the efficiency advertising and marketing trade?
Whilst an overused phrase, creating “win-wins” is the very best feeling for me. The efficiency advertising and marketing trade shouldn’t be about defeating others, however creating significant partnerships that drive actual worth for all stakeholders concerned. When completed correctly, clients ought to really feel rewarded, manufacturers ought to acquire good repeatable revenues and publishers ought to obtain a good lower for connecting the dots and introducing new applied sciences.
Who is your efficiency advertising and marketing hero and why?
My father is my inspiration. I grew up discussing his enterprise ventures with him across the dinner desk. He launched “pay per outcomes” to the search engine optimization and efficiency advertising and marketing sector on the break of the millenium. This pricing technique alone enabled him to distinguish from the fixed-fee rivals and he was capable of cost the next worth by guaranteeing outcomes. As a youngster, I noticed for myself the lengthy queues he was producing at enterprise expos and occasions.
Who in your crew deserves extra recognition that they get? (The unsung hero)
Tom Munday is a beacon of vibrant mild on the coronary heart of the crew. You can’t knock him down! If you’ve ever had the pleasure of emailing Tom, you might need been fortunate sufficient to obtain certainly one of his legendary video replies. (PS. e-mail [email protected] if you wish to see for your self what it’s all about).
What tendencies are you seeing working with advertisers?
I’ve seen a requirement for extra native content material and extra segmented (and closed) audiences. Most programmes have a handful of mass-market manufacturers, however native eating places and retailers appear to be a sizzling subject. I’ve additionally seen manufacturers be extra selective in regards to the programmes they apply to, because of the model associations but additionally the relevancy to clients. Finally, card-linking is a game-changer, particularly for instore purchases. We use this at LUX and it offers an excellent easy buyer expertise, while serving to manufacturers to reward transactions throughout the web and bodily worlds.
How has the function of affiliate networks modified over the past 12 months?
Technology is rising in pace yearly. Affiliate networks have tailored properly by placing knowledge on the coronary heart of their platforms and presenting that knowledge in a means that may drive extra insights. They even have a accountability to champion new applied sciences like card-linking to the manufacturers they work with.
What one factor would you alter in regards to the trade?
I’d prefer to see extra worth handed all the way down to publishers and programmes that give worth again to clients (cashback/rewards) than people who merely push web visitors by to hyperlinks. Recognition that rewarding clients can drive extra loyalty, repeat customized, referrals and better basket worth.
What’s your prime tip for advertisers?
Challenger banks have began partaking in rewards (we’re already working with some). There has been lots of hypothesis about how they’re going to monetise their giant person bases (most are making giant losses) and now is a good time to companion with them. They will drive expertise change at a a lot quicker tempo than the trade is shifting in the intervening time, so greatest to have your finger on the heart beat.
What different areas of the trade are you able to see your self working in sooner or later, maybe?
I’m an entrepreneur at coronary heart. No trade is protected!
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