Almost every one of us belong to an association or customer loyalty program – in fact if you open up your wallet you’re likely to find that you’ve at least a few membership cards, some of which you’ve never even used.
The problem is not that we can’t use those offers – in most cases it’s because we forget those cards even existed. Tech startup Larky (www.larky.com), founded in January last year, aims to make discounts easier to find and redeem with their site and iPhone app by delivering information about various perks and discounts at the right time and at the right place.
Using Larky is easy – users simply add their association memberships to create a personalized perks dashboard showing their perks and discounts across all their memberships – its perks platform currently covers discounts from over 1,500 organizations. The mobile app sends location-aware reminders of any discounts nearby.
“We’re not trying to convince consumers to make unnecessary impulse purchases,” says Larky co-founder Andrew Bank. “Larky helps them get the discounts on everyday items they’re already entitled to but don’t know about yet.”
For example, Blue Cross Blue Shield members are entitled to discounts at Reebok.com, and paying for USA Today with your Visa card saves you 50% off the list price. But who can remember all these discounts? Larky does, and we’ll let our users know online or at the point of sale so they save money seamlessly and effortlessly,” adds Bank.
“People love getting a good deal,” notes fellow co-founder Gregg Hammerman. “Bargain hunting has become a national pastime, and Larky gives consumers a way to find discounts on stuff they would buy anyway. It’s a win for Larky users because it helps them save money.”
“But it’s also a win for the associations and merchants that offer valuable discounts. The associations want to provide value to their members, and the merchants want additional business from these targeted audiences.”
Bank and Hammerman were inspired to start the company when they realized how much money people were leaving on the table by not using their discounts. The two are serial entrepreneurs who have worked together for more than 15 years. They previously co-founded Techstreet, a digital information platform they later sold to Thomson Reuters.
The founders are already looking into the future as far as how they see the mobile payments space pans out, and how Larky fits into that vision. “As mobile payment platforms gain traction, we’ll work closely with the leaders in this space to make it easier for consumers to get the discounts they deserve,” they share.
“Imagine waiving your smart phone at the cash register to pay for something and automatically getting your discount. This is the way it should be and Larky will facilitate that.”
