In his second appearance on HALO Talks, 38-year industry veteran Frank Ancharski discusses his current role as COO of leading RaaS ("rewards as a service") gift card provider, Promotion Vault.
"People really still don't get that 'free' and 'discounted' dues don't work. It erodes your revenue stream and EBITDA. We're on a Mission to let people know there are far better options than discounting memberships and dues… this isn't a gimmicky thing or tchotchke, we're a real life behavioral change company."
Promotion Vault offers a completely digital, zero-waste gift card solution with top brands like Amazon, Lululemon, Starbucks, Nike, Under Armour, and many others.
In This Episode, Frank and Pete Discuss:
- What "breakage" is — and why it's a good thing for your business
- Why "point" systems can harm your balance sheet
- How the CEO of a well-known brand switched from "zero down" to a $25–50 gift card on join — resulting in significantly increased cash flow and revenues
- Why continuing to sell on price hurts the entire industry
- How using gift cards can be critical to increasing your company's valuation
Listen to Episode #304
HALO Talks is hosted by Pete Moore and covers the Health, Active Lifestyle & Outdoors industry. Episode #304 aired January 6, 2022.