More Growth for Brands and Retailers: MyFavorito and 500 Startups Team Up to Supercharge B2C CRM

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Dec 02, 2016, 11:36 ET

MOUNTAIN VIEW, Calif., Dec. 2, 2016 /PRNewswire/ -- MyFavorito announces that 500 Startups, one of Silicon Valley's most active and influential investors, has joined its mission to unlock CRM for B2C brands and retailers. MyFavorito is an open CRM-tech platform, built for brands and retailers to establish highly active, personal relationships with their millions of customers and increase store visits and sales significantly. Initial customers such as McDonald's and Diageo built 20 times more customer relationships on MyFavorito than on typical ad-tech / social media platforms and achieved much higher engagement rates. Teaming up with 500 Startups now gives MyFavorito access to invaluable resources to unlock CRM for many more B2C customers in North America and worldwide.

More Growth for Brands and Retailers: MyFavorito and 500 Startups Team Up to Supercharge B2C CRM

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"Traditional one-to-many marketing is broken for most brands and retailers and does not provide significant growth potential anymore. MyFavorito enables them to unlock their number one growth driver: Highly active, personal relationships with their millions of customers. Reaching the right customer at the right time with the right message or offer generates additional store visits, loyalty, referrals, sales and ultimately growth. CRM is a standard in the B2B world. With MyFavorito we offer B2C companies a ready-to-go, DIY platform to use the very same principles," says Dirk Schlenzig, CEO and co-founder of MyFavorito.

McDonald's, one of MyFavorito's first customers and a major contributor to its product roadmap, used MyFavorito's "irresistible" engagement tools to motivate several 100,000 customers to download the MyFavorito app and pick their favorite restaurant, thus automatically building a direct relationship and a fast-growing, 360-degree-view customer database full of meaningful user profiles - for the first time ever. Some of their restaurants attracted a business-critical number of 10,000 customer relationships. MyFavorito's AI-driven sales engine then generated 25,000 additional store visits in less than a year. The engagement rate was more than 20 times higher than leading Ad-tech and social media platforms. Even more importantly, with MyFavorito results are clearly measurable store visits and sales. Not 'Likes'.

"Ad-tech and social media platforms were never built for brands and retailers in the first place and most of our customers were not impressed with their results. With MyFavorito they can use instant engagement tools such as loyalty program, viral referral engine, coupon manager, daily prize draw systems and much more to engage with their customers like never before," says Mark Schlenzig, MyFavorito's CTO and co-founder.

About MyFavorito

MyFavorito is the open B2C CRM platform for brands and retailers to establish highly active, personal relationships with their millions of customers and increase store visits, loyalty, referrals, sales and growth significantly. MyFavorito addresses all critical success factors and provides a cloud-based, mobile-first, DIY CRM-tech platform that consists of irresistible engagement tools, 360-degree-view customer database and an AI-driven, fully automated sales engine to send the right message at the right time - directly to the right customer's smartphone. Initial customers such as McDonald's and Diageo built 20X more customer relationships on MyFavorito than on typical ad-tech / social media platforms, resulting in more store visits, sales and growth. MyFavorito was established 2015 in Erfurt, Germany by brothers Dirk and Mark Schlenzig. In 2016, the company teamed up with Silicon Valley investor "500 Startups" to supercharge B2C CRM for more brands and retailers and expand its business into North America. Interested customers are highly invited to try MyFavorito for free for 30 days. For more information, please visit www.myfavorito.com.

About 500 Startups

500 Startups is a global venture capital seed fund and startup accelerator based in Silicon Valley with over $250M in assets under management. We have invested in a wide variety of technology startups all over the world, currently over 1,500 companies since our inception in 2010 including: Credit Karma, Grab, Twilio, Udemy, Ipsy, TalkDesk, Intercom, MakerBot (acq'd by SSYS), Wildfire (acq'd by GOOG), and Viki (acq'd by Rakuten). Our team of ~125 people manage seed investments in 20 countries and speak over 25 languages. We run Accelerator programs emphasizing internet marketing and customer acquisition, design and user experience, and lean startup practices and metrics. Our Distro team and programs deliver growth marketing and investment for seed-stage companies. Our investment team and mentor network has operational experience at companies such as PayPal, Google, Facebook, YouTube, Yahoo, LinkedIn, Twitter and Apple.

Contact:
Dirk Schlenzig, CEO
[email protected] '
(510) 227 0948

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SOURCE MyFavorito Inc