Modern Business Profile: Mississauga's Rewardly
/IDEA Mississauga and Modern Mississauga Media present a series of local business profiles, in which each business has participated in the IDEA Mississauga Step-Up Program.
In conversation with Harsh Pujara, Founder and CEO of Rewardly.
What does Rewardly specifically do?
Rewardly is a community rewards app. With Rewardly, customers can earn rewards from their daily purchases at their favourite local businesses. The community rewards app connects local businesses with their local customers through a shared loyalty program and enhances their social media engagement by rewarding post-purchase social activities.
How long has the business been in operation?
Rewardly was incorporated in 2020; we started Beta testing phase one of our app a few months ago.
What inspired this business?
The business was inspired by the impact of the pandemic on local businesses and a desire to help them. Our research showed that loyalty engagement had risen by 25% in recent years and that many businesses were missing out on this opportunity due to limited resources. We saw the potential to bring local businesses together on one platform, where they could leverage each other's customers, share insights and grow cost-effectively. Our goal is to support the vital role that local businesses play in our economy and communities.
What makes this business stand out?
Today’s consumers look for instant gratification, but most traditional loyalty programs lack modern consumer engagement. By only rewarding for purchases, businesses are missing out on their most vocal advocates and their friends.
With Rewardly's innovative approach of connecting social media to loyalty, we not only help businesses increase loyalty but also help them increase organic social media engagement and social proof for a fraction of the cost.
We simplify the rewards process for customers by offering them the ability to earn rewards from various businesses within a single app and the flexibility to redeem rewards at their preferred businesses.
How has IDEA Mississauga impacted your business?
IDEA Mississauga has had a significant impact on our business. Through their mentorship, we have been able to receive guidance and support from experienced professionals in our field. Their connections in the industry have allowed us to network and collaborate with other businesses, expanding our reach. Their grant funding has provided financial assistance for our projects and allowed us to allocate resources in other areas. Finally, their exposure to the communities has helped us increase brand awareness and reach new audiences. We are grateful for the support provided by Idea Mississauga and believe it has been instrumental in our growth.
What succinct advice would you give aspirational business owners?
As a business owner, it is essential that you have a clear and compelling vision. You should understand your target market and continuously work on improving your products or services. Building a strong team, maintaining financial discipline and keeping up with industry trends are also key to success. Additionally, Networking and seeking mentorship and feedback can help you grow and succeed.
What are the businesses goals for 2023?
Our business goals for 2023 include collaborating with Business Improvement Areas to pilot a program with local businesses, onboarding 200 businesses, securing pre-seed funding, continuing to innovate and discover new ways to support local businesses, and facilitating customers earning rewards on their everyday purchases.
