SAN LUIS OBISPO, Calif., May 21, 2015 (GLOBE NEWSWIRE) -- via PRWEB - SpendSmart Networks, Inc. (OTCQB:SSPC) dba "SMS Masterminds," a national full-service provider of mobile and loyalty marketing solutions, has expanded to over 200 unique markets in North America, including markets in Canada, Mexico, and Puerto Rico.
SMS Masterminds has increased demand across North America for both their digital customer loyalty system known as ENGAGE as well as their newly launched THRIVE license which provides businesses with quality mobile responsive website design and automated reputation management.
March was a record month and the Company's technology and support is now being utilized in over 200 unique markets. "Our licensee network has grown by over 200% in less than 18 months. This is significant growth for any company working in mobile marketing technology. I'm incredibly proud of our work here at Masterminds," said CRO Charles Gerencser.
The SMS Masterminds business model is unique: Licensees pay both set and incremental fees for the exclusive right to sell and support the Company's patent pending mobile and loyalty technologies in a particular market. This model enables the Company to enter new markets, establish a network and generate revenue without significant increase in overhead expense.
"Our model is distinct in that we don't employ sales reps or pay commissions, instead our licensees build their own businesses using our technology and support, paying us incrementally as they onboard new merchants. 'Cost of Revenue', or cost of paying someone to make a sale, is usually the achilles heel of the software business - our model significantly reduces this issue. As a result, we're able to invest our capital aggressively into developing exciting new software and national sales opportunities," said SpendSmart CEO Alex Minicucci.
About SpendSmart
SpendSmart Networks provides proprietary loyalty systems and a suite of digital engagement and marketing services that help local merchants build relationships with consumers and drive revenues. These services are licensed, implemented and supported by a vast network of certified digital marketing specialists, aka "Certified Masterminds," who drive revenue and consumer relationships for merchants via loyalty programs, mobile marketing, website development and mobile commerce. Consumers' dollars go further when they spend it with merchants in the SpendSmart network of merchants, as they receive exclusive deals, earn rewards and ultimately build a connection with their favorite merchants. For more information on SpendSmart, please visit http://www.spendsmartinc.com.
Forward-Looking Statements
Certain statements in this newsletter are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about licensee growth, merchant acquisition and use of new products, market penetration and growth, the viability of technologies and other statements that are not historical in nature, particularly those that utilize terminology such as "will," "positions," "believe," "should," "may," "intends," "expects," "future," "believes," "continue," other words of similar meaning, derivations of such words and the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause SpendSmart Networks' actual results to be materially different than those expressed in or implied by such forward-looking statements. Particular uncertainties and risks include, among others, uncertainties involved in launching new products or services, achieving market acceptance; uncertainties regarding SpendSmart Networks' ability to license out its existing products and technologies and license additional products and technologies and the terms of such licenses; and other risks and uncertainties described in SpendSmart Networks' filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K/A, and subsequent quarterly reports on Form 10-Q. All forward-looking statements in this news release speak only as of the date of this newsletter and are based on SpendSmart Network's current beliefs and expectations. SpendSmart Networks undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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