My Money Time wants to help brands target the sport practitioners community
My Money Time, or how to earn cash for each mile you run. The app was launched at ISPO, the sport industry trade show ending on 27th January, and is designed to simply 'remunerate' sport practitioners for their improvements or their regular practice.
"The app connects to sport practitioners' profiles on existing networks such as Runtastic, Run keeper, Under Armour Connected fitness, mapmyfitness, Polar etc., and it turns sport performance into purchase vouchers with partner brands," said Andy Gugenheimer, the app's creator and a man well-known by industry managers through his recruitment consulting company, AG Sport Consulting.
In practical terms: a runner runs for 5 miles and earns a corresponding amount in euro, and so on until the value of the purchase voucher is reached and the runner is urged to buy the product. Brands decide on the value of the purchase vouchers attributed to each model offered to participants. Depending on the products and on industry margins, this could eventually mean discounts between 10% and 30%.
Oakley, Adidas, Reebok, Quiksilver, Roxy, The North Face, Burton and Lolë have already signed up, as well as French sports daily L'Équipe. Andy Gugenheimer's objective is actually to select one brand for each type of sport.
My Money Time can generate website traffic and allows models selected by each brand to be put under the spotlight. Some brands are also envisaging purchase vouchers to be used in-store. The app was launched in English, German and French, targeting Europe and the USA, where it is looking to sign up 200,000 subscribers in a short while.
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