Posted by: In: Company News 07 Mar 2017 Comments: 0

 

IBM_team

 

March 1, 2017 marked another milestone for Qoints, as the Toronto team moved into IBM’s Innovation Space located at 185 Spadina Ave!

We are beyond excited with a new spark of energy, and believe partnering with IBM will foster many opportunities to grow and pursue our vision of empowering intelligent, data-driven marketing solutions. IBM is a technology industry leader with world class Machine Learning and Natural Language Processing technologies offered by Watson, making them a great partner for us as we start to dig deeper into the analysis of our growing campaign repository.

EYE_BEE_MAt the end of 2016, Qoints was accepted in to IBM’s exclusive Global Entrepreneurship Program and plans were put in place at that time to relocate to 185 Spadina Ave. IBM is providing significant funds towards the use of their technology, so we can further develop risk-free proof of concepts for our clients.  Along with platform credits and office space, there are co-sales and partnership opportunities as well as an amazing network of IBMers to learn from. The energy in 185 Spadina isn’t like the “Big Blue” corporate giant you might expect, but more like a lean tech startup (not really a traditional incubator) where Canada’s brightest are working on some of the smartest, most challenging and exciting businesses we’ve seen in a single room. We’re honoured to be a part of it.

We’d also like to give a shout-out and a big thank you to OCAD U and the Imagination Catalyst program. Being headquartered at iCat over the last year has been greatly beneficial for Qoints, helping us build new partnerships, get invaluable advice, and access new mentors that we otherwise would probably not have met. Imagination Catalyst took a big risk on Qoints, accepting a community member with no direct association to OCAD U at the time – they were looking to bring business minds in to balance the design-first thinking of the space. The result is that Qoints now thinks with design as a priority, and we’re so proud to truly be OCAD U alumi and a permanent part of this amazing community. We had the opportunity to guest lecture, lead bootcamps, judge contests, have dinner at the President’s home and most memorable of all, held our first ever State of MarTech event in partnership with Imagination Catalyst. We’d like to give a special thanks to both Kathryn Ellis and Katherine Roos, who are both incredible people and champions of the startup ecosystem. We will certainly miss seeing you every day, and look forward to collaborating on more industry events in the near future.

As we look ahead, we know we will continue to work hard to bring digital benchmarking to the forefront of the industry, and help ensure that digital marketers have the tools to make smarter and more effective decisions.

We can’t wait to see what the future holds for us in our new environment!

Posted by: In: Market Insight 10 Nov 2016 Comments: 0

qoints-panel-cory-rosenfield-072

Credit: Scott Corman Photography

On Tuesday November 1, Qoints and OCAD U’s Imagination Catalyst hosted their first collaborative event together in a series we’re calling the “State of MarTech.” The purpose of this event, and future State of MarTech events, is to discuss and dissect the current Marketing Technology (MarTech) landscape, and how it might change in evolve in the future.

The topic of the day centred around the topic of Artificial Intelligence (AI) and the evolving role it plays in the digital marketing space. Qoints CEO and Co-founder Cory Rosenfield moderated a panel that included Michael Poyser (VP Analytics, Canada @ Aimia), Sandy Kedey (Chair of Advertising @ OCAD U) and Paul Allamby (Chief Marketing Officer @ Mirum Agency). The main question that the panel came to debate was whether or not AI could conceivably become so advanced that humans would no longer be needed to develop, execute and evaluate digital marketing campaigns. With programmatic ad-buying already so entrenched in today’s media planning, are we at the precipice of a dramatic shift in the digital marketing landscape (as we appear to be in so many other industries)?

qoints-panel-cory-rosenfield-029

Credit: Scott Corman Photography

The setting for this event was the iconic Pencil Building (OCAD Sharp Centre for Design) in downtown Toronto. Dr. Sara Diamond, President of OCAD U, provided the opening address after the early crowd was sufficiently filled with hor d’oeuvres and drinks (special thanks to our beer sponsors, The Pilot and Side Launch Brewing Company!). Dr. Diamond is a great champion for the commercialization of technologies developed by OCAD U students, and is also a strong supporter of the OCAD U Imagination Catalyst incubator (of which Qoints is a proud member). In her address, Dr. Diamond highlighted the success of OCAD U graduates (“in 2015, 7 of the top Creative Directors in Canada were OCAD U alumni”) and also set the stage for the conversation to come:

“We are here tonight to discuss not only the art, but also the science… that is, significant advancement in Marketing Technologies that are changing and challenging the traditional ways that advertising has operated.”

“It will be a very interesting dynamic between human intelligence and machine intelligence as we plot our future.”

qoints-panel-cory-rosenfield-054

Credit: Scott Corman Photography

Following Dr. Diamond’s inspiring remarks, the panel was introduced and took their seats. Cory started with a couple lay-up questions to establish a baseline of knowledge for the 100+ people in attendance, which included representatives from major brands, marketing agencies, local startup companies and of course, OCAD U students. Several Toronto-based MarTech startups were also on hand to showcase their products, including Sampler, 5crowd and #paid. As Cory started venturing towards more open-ended questions, the panel began to diverge in their commentary.

Here’s a selection of highlights from the discussion:

qoints-panel-cory-rosenfield-a

Credit: Sayeda Akbary

Cory Rosenfield:

“Will it get to the point in the near future, or future at all, where the human marketer as we know it has been replaced by artificial intelligence – a robot, as we call them?”

“If there aren’t enough jobs, what will people do with their time? Will they contribute positively or negatively to society?”

qoints-panel-cory-rosenfield-099

Credit: Scott Corman Photography

Michael Poyser:

“I have a list of about 18 projects we’re currently working on at Aimia, and another 7 in the pipeline, that are considered AI.”

“Once people start realizing the importance of data then the natural progression is, why does it have to all be done by humans? There’s going to have to be more automation and more done by machines. So it’s just a matter of time until more marketing functions are being done by machines.”

qoints-panel-cory-rosenfield-096

Credit: Scott Corman Photography

Sandy Kedey:

“If we are trying to compete in an omnichannel world, we need some standardization.”

qoints-panel-cory-rosenfield-090

Credit: Scott Corman Photography

Paul Allamby:

“There’s a sense of confusion between marketing automation and artificial intelligence.”

“My bet is one of the first areas that will be impacted is media.”

“The dangers of AI come down to the issue of trust. If you are able to say to the creator ‘how will this make things better for me?’ and then verify how we can [know that] it’s doing what you say it’s doing […] we need some kind of measurement and external verification process if we can’t see how the analytics are performing.”

The panel certainly agreed on AI becoming more and more prevalent, and as a result, verification and standardization will become central issues in the near future. Judging by the feedback from the event, everyone left with a broader understanding of MarTech (particularly the major role that AI is set to play within the space). Be sure to watch for an invite to the second State of MarTech event, which will take place in the New Year!

At the end of the discussion, Cory shared what was an anticipated special announcement, informing the audience about the pending launch of Qoints digital marketing benchmarks for the Household Goods and Health & Beauty verticals in January of 2017. Read more about the announcement here.

A few more shots from the event:

qoints-panel-cory-rosenfield-113Credit: Scott Corman Photography

qoints-panel-cory-rosenfield-154Credit: Scott Corman Photography

qoints-21Credit: Sayeda Akbary

qoints-230Credit: Sayeda Akbary

qoints-panel-cory-rosenfield-163

Credit: Scott Corman Photography

qoints-92

Credit: Sayeda Akbary

ai-vs-humans-qoints-ocad-event-nov-1-sponsors

Posted by: In: Company News 08 Nov 2016 Comments: 0

Qoints to introduce digital marketing benchmarks for Household Goods and Health & Beauty on January 1, 2017

As of JANUARY 1, 2017, Qoints will be expanding the index with 2 BRAND NEW categories. We are proud to make benchmarks for the HOUSEHOLD GOODS and HEALTH & BEAUTY categories available to all of our customers. There will be a limited opportunity, until the end of November, to collaborate on these benchmarks as a Luminary Partner. Luminary Partners have the ability to influence the metrics that Qoints tracks, and get first access to the intelligence that comes out in the New Year.

Qoints is a Toronto-based marketing intelligence platform and data marketplace that helps marketers drive better results through their digital promotions. The Qoints software provides marketers with a knowledge base of digital promotions, which allows them to compare their results against the rest of their industry.

It’s a really exciting time to be in the Household Goods and Health & Beauty category in North America – marketing mix strategies without benchmarks will soon be a thing of the past. Looking ahead, in the New Year we’ll be working hard to open up new benchmarks in the RETAIL, QUICK SERVE, and FINANCIAL SERVICES categories. The addition of these two new verticals brings the total number of industries covered in the Qoints Public Knowledge Base to three (including the Food & Beverage category).

Qoints announced the first set of public digital marketing benchmarks in April of 2016, after inking a deal with the Brand Activation Association which provided access to proprietary digital promotion campaign data collected through submissions to the REGGIE Awards. That dataset was aggregated into the existing Qoints Knowledge Base and made available for customers through the platform. These benchmarks include popular shopper marketing tactics such as sweepstakes, coupons and personalized content on mainstream social media channels across Canada and the USA.

Campaign data covers a wide range of marketing channels and platforms which include (but are not limited to) social media, email, search, display, video and more. Qoints has been conducting internal research studies in partnership with many leading consumer brands and agencies, which has fueled the recent growth of the platform’s dataset. The ongoing use of Qoints for internal data management and these collaborative research studies will allow for continued expansion into new verticals throughout 2017.

 

 

 

Posted by: In: Digital Success 22 Jun 2016 Comments: 0

Source: SAS.com

Marketing is an art. Marketers create campaigns and drive awareness for their product or service by designing creative visuals and writing concise text. As we transition into a hyperconnected society, however, marketing is starting to blur the line between art and science. Data-driven marketers use valuable insights from consumers’ online activities to more effectively target the attention of the desired customer group. This real-time data is becoming the bedrock on which marketers make decisions, and is driving the shift towards more data-driven campaign optimization.

A recent report done by Ascend2 shows that 54% of companies believe that making more accurate decisions is the biggest benefit of marketing data. This proves that organizations want to make more informed decisions with the data they are collecting. The issue is that while marketers might have a general idea or sense of who to target and how to run their campaigns, they need to maximize the collection and analysis of their data in order to inform the decisions that will actually have an effect on digital marketing ROI and overall market share.

Objectively Organized Real-time Data Is Becoming a Goldmine

As a result, relevant data is one of the most lucrative assets for marketing departments and agencies to utilize in their digital marketing efforts. Marketers now expect to know how long customers are looking at their advertisement, how many people interact with them online, and the leads they generate through each campaign (among myriad other metrics, unique to the particular marketer and their organization). These metrics are used to calculate key performance indicators (KPIs), which make up the foundation for measuring a digital campaign’s success, and thus knowing these details is essential to marketing departments.

Access to these metrics and the associated KPIs can put marketers in the shoes of their customers and help them better understand their wants and needs, but on its own, this information does not really indicate to a marketer whether or not a campaign is working. In order to make that determination, relevant historical data from similar internal campaigns needs to be readily available for comparison, and if possible, competitive intelligence from external campaigns (which undoubtedly provide the most objective measure of success, since marketers are not competing for market share with their former selves). Done properly, a marketer can see clearly what is and is not working, and modify or completely remove the aspects of their campaigns that are not achieving the desired results.

How Lexus Did it Differently

While some have questioned the true value of real-time data and analytics in marketing, and been reluctant to change, one needs to look no further than the results it can produce to see the potential value to their own organization. Lexus (the luxury automotive company) was struggling with promotions and campaigns, not knowing where to spend their ad dollars. Their decided to double-down on their use of data and analytics, only investing money from their marketing budget that was based on insights gleaned from the real-time data they had collected.  They realized that to maximize sales, they should decrease spending on TV advertisements, and increase spending for mobile and social campaigns. These insights drove 63% better conversion volume, and a 28% global KPI improvement. This improvement was due to the data-driven decision making made by the marketing team. The data they had collected showed which channels needed more spending to optimize effectiveness, and thus Lexus was able to modify its budget across 6 different channels to more efficiently spend its money. In order to reach these conclusions, however, the company had to create a custom framework and response model to run on top of their analytics platform. While this approach was effective, the logical next step is to figure out how to repeat the process without building a custom model every time.

How Lexus Adjusted Channel Spend to Optimize Sales Source: ANA Magazine April 2016 Edition

How Lexus Used Real-Time Data to Adjust Channel Spend and Optimize Sales
Source: ANA Magazine April 2016 Edition

[READ: HOW DIGITAL WILL DRIVE BUSINESS IN 2020]

Not everyone within the industry is taking advantage of data and analytics like Lexus. While some are not using data at all, the more common situation is marketers not using the data they collect effectively. The same report done by Ascend2 reveals that 40% of companies believe their marketing data management strategy is either below average or worst in class, compared to competitors. This indicates that many firms are aware that they are not properly equipped to handle the volume of data their consumers are supplying, and therefore not able to use it to their advantage. The question then becomes, what tools are available to these organizations that have fallen behind in the data intelligence space?

Getting Historic Data Organized In Step One

The Qoints platform simplifies and streamlines the process of analyzing digital activation data to generate actionable insights. By leveraging data collected through Qoints data marketplace to drive Digital Marketing Intelligence, marketers can harness data and use it to their advantage. This helps marketers make sense of what all the numbers mean with respect to the rest of the industry and product category. Qoints can objectively tell marketers how well a certain campaign did against past ones, or how well it did compared to the industry average.

Qoints Empowers Real-time Data Driven Marketing Intelligence

Instead of creating a custom model for each campaign (a labour-intensive task) the Qoints platform allows you to easily input data and results for any number of campaigns through a .CSV uploaded or API connections. These results and comparisons help marketers spend their money in a wiser manner by centralizing and organizing data, turning low-tech marketing departments into data-driven powerhouses without reinventing the wheel. Mapping historic campaign data to the Qoints crowd-sourced digital marketing data taxonomy allows for an apples to apples comparison across channels, platforms and the overall category. The result is most effective for omnichannel campaigns, and an improved bottom line that can be attributed back to specific marketing efforts. Get in touch with us today to find out how you can simplify your path to data-driven decision making!

Posted by: In: Company News 27 Apr 2016 Comments: 0

Strategic partnership with Brand Activation Association helps Qoints expand baseline benchmarks for Food & Beverage, Health & Beauty and more!

Qoints is excited to announce their official partnership with the Brand Activation Association (BAA) The BAA, which is a division of the Association of National Advertisers (ANA), is made up of brand marketers, agencies, service companies and law firms that specialize in the disciplines of brand activation. The strategic partnership between Qoints and the BAA will be a major driver of the company’s thought leadership efforts, with the support of the BAA’s vast resources and network. The other BAA activation partners are AOL, PwC and Fandango.

Qoints is a Toronto-based marketing intelligence platform and data marketplace that helps marketers deliver better business with their digital promotions. Qoints software provides marketers a knowledge base of digital promotions that allows them to compare their results against the rest of their industry. 

In conjunction with the BAA, Qoints will host a webinar, lead a Share Group (tightly-focused conference for BAA members), and contribute to the BAA’s comprehensive Content Library. Partnering with the BAA will bolster Qoints’ content distribution network, providing hyper-targeted reach within the industry and helping to foster relationships with key partners. Access to all BAA and ANA events will be made available for Qoints (of which they will be attended selectively) for additional business development opportunities.

Working with the BAA also allows Qoints to access to proprietary data such as REGGIE Award winners applications, case studies, and other research performed by the BAA. “This partnership provides us with up-to date campaign data that complements the Qoints platform, allowing us to expand the core data-set, validate our taxonomy and develop new category baselines” says Cory Rosenfield, Qoints co-founder and CEO. The baselines created will fuel industry best practices, white-papers and Qoints thought leadership – and will be distributed throughout our network. Baseline benchmark expansion includes the following categories: Food & Beverage, Health & Beauty, Home & Office Improvement, Pet Supplies, Wine & Liquor & Beer, Apparel, School & Office Supplies, Consumer Electronics, Household, Retail, Financial Services.

This proprietary research is being developed with the BAA’s new member resource centre in-mind – as it will serve as a valuable addition to BAA members. Qoints thought leadership will be distributed directly to BAA membership, further establishing Qoints as a thought leader in the Digital Marketing Intelligence space among Brand Activation marketing professionals. 

 

About BAA:

Founded in 1911, the Brand Activation Association (BAA) has championed this industry through its combination of research, education, advocacy, and collaboration opportunities. The organization’s membership is comprised of top brand marketers, marketing agencies, law firms, retailers, and service providers representing thousands of brands worldwide. As of July 1, 2014, the BAA has become a division of the Association of National Advertisers (ANA). BAA, together with the ANA, provides leadership that advances marketing excellence and shapes the future of the industry.

brand activation association

 

Posted by: In: Digital Success 14 Jan 2016 Comments: 0

digital marketing technologies made in Canada

If you think that marketing technologies drove disruption for CPG manufacturing and retail in the last five years, you haven’t seen anything yet. Get ready for the next five years!

It will be very interesting to measure how many new emerging marketing technologies drive the evolution of consumption behaviors over the next few years. It’s expected that more than 50% of sales will be driven via digital by 2020 – but right now only a small percentage of these sales are captured by CPG manufacturers. How marketers adapt while embracing a Direct to Consumer (DTC) model will define who thrives and who dies over the next decade.

When Nike released their most recent quarterly earnings, they focused on future ecommerce and DTC growth. Today, Nike ecommerce sales account for $1 billion annually, which they anticipate to grow through technology innovation investments to $7B by 2020. They also anticipate DTC sales to more than double (from $6.6 billion to $16 billion) annually in the next 5 years.

In the world of marketing and advertising, Canada is seen as a pilot market or testing ground for US consumer products

Canadian marketing budgets follow population trends, generally maxing out at 10% of their counterparts south of the border. This serves as a great catalyst for marketing technologies to be dreamed up and developed in Canada while finding true scale in the US and beyond!

Here’s a list of made in Canada marketing technologies experiencing international success that every CPG manufacturer and retailer need to start using in 2016:

Sampler – Personalized social sampling with in-store, mail and e-commerce fulfillment options. Has worked with: Mondelez and The Body Shop

Limelight – Promotion automation for live marketing campaigns such as sampling, surveys, sponsorships and more. Has worked with: BMW, Molson Coors, Scotia Bank

Consumer Intelligence Group – Market and consumer insight reports (by postal code) aggregating data from Equifax, StatsCan, Numeris and more. Has worked with: TD Bank and Canada Post

Post Beyond – Grows your social communities by enabling employees to consume and share branded content. Has worked with: Starbucks, Allstream and the PGA

Qoints – Data management layer that centralizes and anonymizes marketing campaigns across all platforms and channels to create industry norms, best practices and actionable insights. Has worked with: 3M and Deloitte

Honorable Mentions: AdEase, Turnstyle Solutions, Cluep, Rover Labs, Trideit, Boon Rewards

 

Need help navigating the many different digital marketing technologies?

You’re not alone! It’s an overwhelming digital world out there; consumer brands use a multitude of tools to manage their marketing programs, and even more once you factor in the other areas of their businesses. Different tools work better for different brands – there’s no perfect science. Qoints helps brands bring turn confusion into clarity by identifying trends and best practices that are tailored to unique business goals and customer profiles. We help you identify what tools are working for your brand, category and industry vertical overall to ultimately get a better ROI from your marketing dollars and increase sales.

Want to learn more? Contact us here!

 

Posted by: In: Market Insight 18 Dec 2015 Comments: 0

A recently published article by Nigel Fenwick summarizing a Forrester report suggests that global executives are very optimistic about how digital will change their business. 46% of executives surveyed believe that within the next five years, digital will have an impact on more than half of their sales. This implies not only major awareness of digital’s potential impact to change today’s business, but also a confidence that their respective organizations will be successful in making the changes needed for this expectation to become a reality. What’s surprising though is that it’s in the biggest companies where executives expect the greatest change, where change is actually the hardest. That’s quite ambitious for the next 4 years.

How will you measure and compare the impact of digital on your sales? DMI helps!

 

Key Takeaway #1: Revenue Will Quickly Move To Digital

Digital is reaching a tipping point. Over the next 4-5 years, companies will start to see digital affect more than 50% of their revenues. Most companies are totally unprepared for this change.

Key Takeaway #2: Firms Need A Better Digital Talent Acquisition And Retention Strategy

Risk to existing revenue streams becomes a reality and companies will begin a panicked effort to hire digital minds. Companies with an actual plan to attract and retain quality digital talent will have a major competitive advantage.

[READ MORE: GAMBLING WITH YOUR DIGITAL BUDGET? HERE’S HOW TO COUNT CARDS INSTEAD]

In B2B industries like consumer packaged goods (CPG), wholesale sales, and professional services, the shift is expected to be dramatic — Forrester estimates that the US B2B eCommerce market will be $1.13 trillion by 2020.

The following was originally published by Forrester on Dec 8, 2015 (blogs.forrester.com)

CPG execs expect digital to have an impact on almost half their sales. Even though the percentage predicted by 2020 is still less than 50%, if CPG companies were to generate anything close to 45% of their sales through digitally enhanced products and services or through online sales by 2020, it signals a dramatic shift in the CPG landscape. The ripple effects of the digitization of more and more CPG will be felt through wholesale and retail channels.

Retail execs are bullish for online growth. While Forrester’s own research suggests that total US online sales will account for 13% of all retail sales by 2019, retail executives in our digital business survey are confident in their firm’s ability to use digital to boost revenue — predicting that digital will drive 58% of their sales by 2020. These numbers signal the rapid shift in perception among executives in what’s possible through digital. A full 12% of retailers in this survey expect to be 100% digital by 2020. Retailers not expecting the kind of shift that’s suggested in these latest numbers are likely to become digital prey to more nimble digital predators.

Professional and business services face dramatic changes. Execs in professional services expect 49% of revenue to come through digital channels or products by 2020 — a big difference from the 20% in 2014. While some of this shift will likely come through selling professional services online, I predict an increasing number of professional firms will develop revenue-generating digital products — such as Forrester’s interactive dashboards — alongside their traditional services.

Industrial products are catching up. Up to now, the industrial sector has seen less disruption from digital, but executives expect this to change. Even coming close to the 37% of revenues predicted by 2020 would require a major change in how companies develop and distribute industrial products — but this is exactly the kind of disruption General Electric (GE) predicted, which it describes as the industrial Internet. As industrial components and machines become digitized, sending streams of data to manufacturers and suppliers, we’ll see a new range of digital services emerge that help businesses optimize their assets. The agricultural sector is an example of the kinds of change that are possible — instead of just selling seeds and fertilizer, companies like Pioneer already successfully augment sales with new data-enabled digital services.

 

43North Win- Stage Shot

As some of you have surely heard, Qoints was selected from over 11,000 applicants as a finalist in the prestigious 43North Business Idea Competition (the world’s largest business idea competition). We claimed a prize of $250,000 USD after competing in Buffalo at the end of October, and shared the stage with some of the world’s most promising startups including two others from Canada.

43North awards $5 million in cash prizes each year to some of the best and brightest entrepreneurs and startups from around the globe. In addition to a piece of the cash prize pool, Qoints will receive incubator space in Buffalo, mentorship opportunities and support from local stakeholders. 43North is part of New York Governor Andrew Cuomo’s Buffalo Billion initiative, which is driving new economic opportunities throughout Buffalo and Western New York.

The result of this win is that Buffalo will represent the beginning of our US expansion – we will begin working and hiring in the Buffalo area in January 2016. The majority of our customer traction has been outside of Canada and we are excited for this opportunity to establish our market position in the US, and to scale out our efforts to provide Digital Marketing Intelligence to brand marketers around the world. Check out the numerous press mentions listed here, and read more about 43North on their site. If you would like to receive email updates about Digital Market Intelligence (DMI) and Qoints’ growth development, register for our newsletter here!

 

 

 

 

Posted by: In: Company News 22 Oct 2015 Comments: 0 Tags: , ,

Avatar_FinalistQoints, the Toronto-based intelligence tool for digital activation data, has been selected as one of eleven finalists for 43North, the world’s largest business idea competition. The competition awards $5 million between 11 companies each year to turn the best business ideas from around the globe into reality in Buffalo, NY. 43North is part of New York Governor Andrew Cuomo’s Buffalo Billion initiative. The list of finalists can be seen at http://www.43north.org/finalists and more information on the program can be found at www.43north.org. The official press release from Governor Cuomo’s office can be found at http://www.governor.ny.gov/news/governor-cuomo-announces-finalists-43north-world-s-largest-business-idea-competition.

“43North is an amazing opportunity for us to kick-start our US presence, and Buffalo is a city that has a long history of driving innovation. We’re incredibly excited to be a part of the 43North community and look forward to living and working in Buffalo for the next year and beyond.”

– Cory Rosenfield, Co-founder and CEO of Qoints

Qoints and the other finalists were selected from over 11,000 applicants spanning all 50 states, 9 out of 10 Canadian provinces, and 117 countries. They will now compete for the grand prize of $1 million and 10 other prizes of either $500,000 or $250,000 at Shea’s Performing Arts Centre on Thursday, October 29, 2015.

N100-Logo-Dec-5-2014-325x142Qoints, the Toronto-based performance benchmarking tool for digital marketers, was revealed as the winner of Northumberland’s third annual N100 Startup Competition. The win netted the company $100,000 in convertible debt towards their fundraising goal of $750,000.

“Having an experienced lead investor is a major milestone for our fundraising efforts,” said Cory Rosenfield, co-founder and CEO of Qoints. “The capital injection will be used to help grow Qoints’ engineering resources, data science capabilities and client success teams,” said Rosenfield.

Qoints-Logo

Brand marketers use Qoints to inform their tactical and budgeting decisions around digital promotions such as contests, giveaways and loyalty programs. Projecting, measuring and comparing these programs is a real headache for brands as well as the agencies that work on their behalf; Qoints centralizes the data and anonymously compares it to others in the same space to provide competitive intelligence back to the marketer.

The concept was borne out of the founders’ previous digital agency, where they specialized in running digital promotions for large brands. Customers began asking for projections before committing budgets, and benchmarks to gauge their final performance against. Cory and Harris realized that no such benchmarks existed, and developed Qoints to solve the gap in the quickly-expanding digital market. They joined local accelerator INcubes in the summer of 2013 and honed the concept by meeting with as many agencies and brand marketers as possible. Brands such as 3M and Kinder were among the first to test the product’s viability.

Today, Qoints is piloting its beta with a number of international agencies desperate to gain a leg up on the rest of the market and objectively demonstrate to brand clients how to get the best bang for their bucks online. Brands looking to run compliance on their agencies or bring some of their digital initiatives in-house have also shown interest in using the tool. The company is also looking to expand its team, both in Toronto and now in Northumberland County as well.

Harris Maxwell, COO of Qoints, at the Round 1 N100 Pitch Contest earlier this year.

Harris Maxwell, COO of Qoints, at the Round 1 N100 Pitch Contest earlier this year.

“Qoints promises to deliver on a major pipeline of business development and we look forward to being a part of their acceleration and future success,” said Wendy Curtis, Executive Director of Northumberland CFDC — the organization that runs N100. Qoints will be spearheading an annual hiring fair in Northumberland, along with a number of other initiatives that will drive direct economic benefits back to the region.