Blue Points Fidelité
Blue Points Fidelité is a Montreal startup rewards program card similar to other customer loyalty reward programs like Airmiles. Blue Points Fidelité’s approach is to offer reward cards to small retailers, merchant associations, and other small businesses who can’t afford their own rewards program. Similar to Pharmaprix’s rewards program (for every $100 spent, $10 in rewards is collected), customers would be able to use the same card at thousands of small retailers across the country, accumulating points and exchanging them for rewards.
Blue Points Fidelité’s owner, Alejandro Suarez, came to CEDEC Small Business Support (CEDEC SBS) for help after meeting CEDEC SBS at their booth at Salon Stratégies PME. Alejandro initially thought he needed advice on how to launch their new product, but after a couple of sessions with his certified GrowthWheel® business advisor, he quickly realized they had been doing a great many things incorrectly from the get-go.
Alejandro knew he needed concrete and measurable results, fast. His CEDEC SBS business advisor helped him discover and conduct the validation process (testing a product and developing it based on market feedback) after learning that, to date, Alejandro had spent a large portion of his seed money developing the rewards program based solely on assumptions and “guestimates”.
After the first block of hours with his CEDEC SBS business advisor, Alejandro realized he had been on a collision course with disaster: his company had not yet had any sales and were left with few finances. In his estimate, Alejandro’s CEDEC SBS advisor saved him $35,000 and having to put a mortgage on his house by walking him through the launch process step by step, decision by decision.