Best Buy Teams With Frequency Marketing, Inc. to Launch Reward Zone Loyalty Program.Business Editors CINCINNATI--(BUSINESS WIRE)--July 21, 2003 National Rollout of Reward Zone Loyalty Program Marks Major Milestone in Best Buy Customer-Centric Marketing Focus Best Buy stores today announced the national rollout of Reward Zone(TM), a new loyalty program to recognize and reward its best customers. This national rollout continues the relationship that began in April 2002 when Best Buy chose Frequency Marketing, Inc. (FMI FMI Fondo Monetario Internacional (Spanish: International Monetary Fund) FMI Fonds Monétaire International FMI For More Information FMI Food Marketing Institute FMI Fundo Monetário Internacional ) of Cincinnati, Ohio “Cincinnati” redirects here. For other uses, see Cincinnati (disambiguation). Cincinnati is a city in the U.S. state of Ohio and the county seat of Hamilton County. to create a best-in-class retail loyalty program using FMI's proprietary Loyalty Solutions Platform(TM). After a successful eight-month pilot program in southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , FMI helped Best Buy plan the national rollout. "We recognize the value of maintaining our core of frequent, repeat shoppers," said Mary Miller Mary Ellen Miller is the master of Saybrook College at Yale University and the Vincent Scully Professor of the History of Art. She studies and lectures on the art and architecture of pre-Columbian Mesoamerica, on which she has authored or co-authored a number of works. , vice president of Customer Loyalty Marketing for Best Buy. "Reward Zone fits into our corporate mission of 'customer centricity' and offers us a vehicle to tangibly reward customers for their continued patronage Patronage See also Philanthropy. Alidoro fairy godfather to Italian Cinderella. [Ital. Opera: Rossini, Cinderella, Westerman, 120–121] Alphonso, Don supports Bias in return for political favors. [Fr. Lit. ." "After a search of numerous suppliers, we selected FMI because of their extensive industry knowledge and the technological ability of the Loyalty Solutions Platform to support all facets of our program," said Miller. "They clearly demonstrated their knowledge of the retail category as well as how to apply their technology to improve our business." Frequency Marketing, Inc. provides the technology platform, technical services, print fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. and ongoing program support for the Reward Zone program. The technology platform includes the Loyalty Solutions Platform and MemberNet(TM), FMI's web interface that allows member interaction via the Internet. Print fulfillment includes member welcome kits, quarterly statements and award certificates. Best Buy manages creative development and media buying through its existing vendors and runs member services using FMI's platform at its existing call centers. The FMI MemberNet Web site capabilities support Best Buy plans to offer Reward Zone members a host of special benefits and exclusive privileges including: sweepstakes, previews (via Web streaming) of upcoming CD's and movies, computer/video game demonstrations, product giveaways (concert tickets, T-shirts, trips, signed memorabilia mem·o·ra·bil·i·a pl.n. 1. Objects valued for their connection with historical events, culture, or entertainment: posters, publicity photographs, and other movie memorabilia. 2. ), special access to artist interviews and the opportunity to participate in "You Be The Critic." Using the FMI tools, these offers can be dynamically configured con·fig·ure tr.v. con·fig·ured, con·fig·ur·ing, con·fig·ures To design, arrange, set up, or shape with a view to specific applications or uses: and targeted for specific groups or even individual members. "Our primary goal is to support Best Buy's enterprise-wide 'customer-centric' commitment by helping them obtain a greater view and understanding of customer behavior. By better understanding customers down to the transaction level, Best Buy is in a stronger position to develop more targeted and relevant offers. If we can help them do this, they should recognize increased revenue and share of wallet Share of Wallet (SOW) is a survey method used in performance management that helps managers understand the amount of business a company gets from specific customers. ," said FMI President, Kelvin kelvin, abbr. K, official name in the International System of Units (SI) for the degree of temperature as measured on the Kelvin temperature scale. A unit of measurement of temperature. Taylor. "Working with Best Buy is a tremendous opportunity for FMI. It is one of the largest, best known and most respected brands in the retail space, and their selection of FMI validates our singular focus on the global loyalty marketplace and our technology." To celebrate the launch of Reward Zone, Best Buy is running a sweepstakes from July 20 - August 23, 2003 and giving away $25,000 per day. Customers get one entry into the sweepstakes for enrolling in Reward Zone and one entry for every additional transaction they make. Each day for 35 days, there will be a new drawing and a new chance to win $25,000. Available in all of Best Buy's more than 550 US locations, Reward Zone is open to any shopper age 13 and older. After paying a $9.99 annual fee, members receive a Reward Zone membership card that allows them to earn 100 points for each dollar spent. They also receive a 5,000-point enrollment bonus. Every time a member's balance reaches 12,500 points, a $5 award certificate, redeemable Redeemable Eligible for redemption under the terms of an indenture. for any Best Buy purchase over $10, is automatically issued. Additionally, members will earn Bonus Points for participating in program activities such as signing up for an online newsletter or completing a survey, or by purchasing featured merchandise. Additional Reward Zone information is posted at http://www.frequencymarketing.com/newsroom/bestbuysyn.asp or on the Reward Zone Web site at http://rewardzoneonline.bestbuy.com/index.jsp. About Best Buy Stores Best Buy Stores, owned and operated by Minneapolis-based Best Buy Co., Inc., is the nation's leading specialty retailer of technology and entertainment products and services. Best Buy was founded in St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn. in 1966. Best Buy Stores reach an estimated 300 million consumers per year through more than 550 retail stores in 48 states and online at BestBuy.com. For more information about Best Buy, visit the virtual pressroom at http://onlinepressroom.net/bestbuy. About Best Buy Co., Inc. Minneapolis-based Best Buy Co., Inc. is North America's leading specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Company's subsidiaries operate retail stores and/or Web sites under the names: Best Buy (BestBuy.com), Future Shop (FutureShop.ca), Geek Squad The Geek Squad is a subsidiary of the Best Buy Company and is based in Richfield, Minnesota [1]. Originally founded in 1994 by Robert Stephens, it offers various computer-related services and accessories for residential and commercial clients. (GeekSquad.com), and Magnolia Magnolia, city, United States Magnolia (măgnō`lyə), city (1990 pop. 11,151), seat of Columbia co., SW Ark.; inc. 1855. Its oil industry has been important since 1938. Hi-Fi (MagnoliaHiFi.com). The Company's subsidiaries reach consumers through nearly 700 retail stores in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. About Frequency Marketing, Inc.: For two decades, Frequency Marketing, Inc. has provided complete resources and technology for the design, implementation and management of loyalty-marketing programs that recognize and reward customers based on their purchase behavior. FMI's Loyalty Solutions Platform(TM) allows companies to create and quickly launch flexible, fully customized loyalty programs that can support even the most creative program rules and structures. Additionally, FMI publishes COLLOQUY col·lo·quy n. pl. col·lo·quies 1. A conversation, especially a formal one. 2. A written dialogue. [From Latin colloquium, conversation; see (R) (www.colloquy.com), a magazine that reports exclusively on loyalty-marketing programs across all industries, around the globe. More information is available at www.frequencymarketing.com. --30--SLB/
CONTACT: Frequency Marketing, Inc.
Jill McBride, 513-231-5115
jill.mcbride@frequencymarketing.com
or
Best Buy
Erin MacMillan, 612-291-6129
erin.mcmillan@bestbuy.com
KEYWORD: OHIO MINNESOTA
INDUSTRY KEYWORD: E-COMMERCE INTERNET RETAIL ENTERTAINMENT
ADVERTISING/MARKETING MARKETING AGREEMENTS
SOURCE: Frequency Marketing, Inc.
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