The company has a market-leading position as an Australian provider of employee and consumer engagement programs for medium-to-large companies with over 20 years of continuous operations.

My Rewards has grown to become a major digital marketing business connecting more than 4.6 million customers and 100+ corporate clients with access to over 4,500 product and service suppliers.

Read the conversation:

Sally A Illingworth:

"Today we're joined by My Rewards International for a conversation about the company’s strong market position, evidenced by the recent initial public offering. Following 20 years of demonstrated experience in developing cloud-based rewards, recognition and loyalty programs for corporates and consumers, My Rewards now connects more than 4.6 million members with more than four and a half thousand suppliers globally.

Joining us today from my rewards is Chairman, David Vinson and Managing Director, Maitreyee Khire. Following the advent of the COVID-19 pandemic Maitreyee, what are the key opportunities and challenges for my rewards, particularly as digital-first experiences have largely become non-negotiable for both customers and employees in terms of how they engage with businesses?"

Maitreyee Khire:

"Sally, with technology, you can always scale rapidly, but with rapid scaling comes the challenges of how you manage a business sustainably and grow along with that. With COVID we had great opportunity to grow our business and had multiple contracts that we can now get into the global market.

However, along with that, we need to be very careful that we make this transition in a very sustainable manner so as to not burn out the company and the resources. At the end of the day, we're all here to be able to make our shareholders very excited about the upcoming IPO and the market after that and to be able to service them properly going forward."

Sally A Illingworth:

"And the IPO is definitely symbolic of the next phase of growth for My Rewards. So David, in your view, what are the key drivers that will make the company more valuable than it is today and are there any recent wins you can share with us?"

David Vinson:

"So, Sally, first of all, we've detailed the key drivers in the perspectives and what we're looking for is to increase the member numbers and that's both locally and globally. Secondly, is to have them more active in what they're doing. So using the technology to have them more active in what they're looking for and presenting them with products and services that they're interested in.

And that's where our personalisation comes in with our artificial intelligence module, we will be providing the users of the programs, products, and services that interested them on a personal level. And thirdly, looking at transactional income by increasing the volume of transactions, but also the margin on those transactions.

So as a business, we'll be looking at the corporates, providing membership fees, increasing the member numbers, and then moving into activating the members to buy more products with a higher margin."

Sally A Illingworth:

"Yeah, I think personalisation is certainly something that's becoming increasingly important across every type of business.

And David, you mentioned earlier that even for your corporate clients the ability to customise the programs and the platform is really important. Maitreyee it would be good to hear from you quickly, with the market and the customers that you serve. Is personalisation a major priority and preference? Is that what people want, even in the context of loyalty programs?"

Maitreyee Khire:

"When I originally began with the company, the pitch was, you have access to four-and-a-half thousand supplies, and that was really great because people really liked all these different offerings that they had and the ability to choose.

As time has changed and technology has evolved. We now see our customers say, well, you should know what we like. You should know as me as a person. What am I interested in? And it's not up to me to go and search through your entire website to figure out what I want. And so yes, personalisation has become very important. So not only do we provide customised solutions to the corporates, which have their own branding, their own values mixed through it, but also for the end-user a customised way and a personalised way for their everyday shopping."

Sally A Illingworth:

"And David, is that where the artificial intelligence that you mentioned, My Rewards has developed them in using, continuing to develop? Is that where the artificial intelligence comes into play?"

David Vinson:

"Yeah, absolutely. So we can pick up what customers are doing, what other customers are doing. And for instance, if someone searching for blue jeans and the rest of the base is looking on buying blue jeans, they want to then buy a white t-shirt. We would present our customer with a white t-shirt as, Hey, you should also look at this as something to compliment the blue jeans. If in a week's time, a red t-shirt is more popular, it would automatically adjust based on what the rest of the member base is doing to present the more relevant offers that the rest of the base is looking at.

So this way it’s dynamic, it changes, but it's not us changing it. It's actually evolving as the transactions evolve. So we're always presenting more relevant offers and more topical opportunities to the members."

Sally A Illingworth:

"Yeah, I think relevance is certainly a keyword there in terms of giving people what they want, which is relevant to them, which is, as you mentioned, David, always evolving."

David Vinson:

"Correct, Now we're very excited about that this part of the business and with that, we're also launching our consumer program and that will also have the same features going into the public space to help more people access the program and deliver again, personalised experience with goods and services that they want."

Sally A Illingworth:

"Thank you to David and Maitreyee of My Rewards for joining me today. For further investment opportunities about My Rewards, please contact Barclay Pearce Capital. Thank you."

Maitreyee Khire & David Vinson:

"Thank you, Sally."

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