Locorum is a business reward platform that offers custom-branded prepaid Mastercards to facilitate cash rewards for clients and employees when engaging local services like real estate and renovations. This solution streamlines referral management, saving businesses an average of four hours per deal while enhancing customer loyalty and brand recognition.
Funding
$1.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses struggle to efficiently manage and track referrals, leading to missed opportunities and increased customer acquisition costs. Traditional referral programs often lack automation and personalized rewards, resulting in low engagement and difficulty in measuring ROI.
Solution
Locorum provides a platform for businesses to create, manage, and automate referral and rewards programs using custom-branded prepaid Mastercards. The platform streamlines the referral process, allowing businesses to incentivize clients and employees, track referrals, and distribute rewards efficiently. By offering branded virtual or physical cards, Locorum enhances brand image, fosters customer loyalty, and reduces administrative overhead associated with manual payout methods. The system automates the creation of custom landing pages, email marketing, and referral tracking, saving businesses time and improving program engagement.
Target Audience
Locorum primarily targets businesses in industries such as real estate, home services, automotive, and human resources that rely on referrals for customer acquisition and seek to improve customer loyalty and brand recognition.
Features
- Custom-branded virtual and physical prepaid Mastercards for personalized rewards
- Automated referral tracking and management dashboard
- Email marketing tools and templates for program promotion
- Integration with existing CRM systems for seamless data management
- Real-time reporting and analytics to measure program ROI
- Customizable reward tiers and incentives to drive engagement
- Secure and efficient digital payout system
- Dedicated onboarding manager for program setup and support