“I believe that AppSmyth will change the face of marketing and bless everybody in the equation.”
— Steve Lynn, former CEO of Shoney’s and Sonic Drive-In Restaurants and International Franchise Association, IFA, Hall of Fame Recipient
AppSmyth is delighted to announce its collaboration with RP3 Group, a private investment partnership focused on profitable businesses and emerging brands with strong growth potential and revenues in the range of $5 to $100 million.
RP3’s founding partners bring over 100 years of combined C-level experience to AppSmyth’s team. Steve Lynn, Wallace Hite and Lee Cohn’s complementary backgrounds and relationships in the fast casual, casual and upscale restaurant business world are dramatically improving AppSmyth’s market visibility.
“My role in all of this is to crack open doors with brands and leaders that I have a long-standing relationship with, love and care about and want them to be blessed by this wonderful service,” said Lynn, an International Franchise Association, IFA, Hall of Fame recipient in 1997.
Lynn enthusiastically introduces AppSmyth as a “data analytics company masquerading as an app” to help his peers understand the vast difference between existing mobile app programs in the marketplace and AppSmyth’s “game changing” product and services.
Lynn points to the ubiquitous Starbuck’s mobile app as an example of what local chains and customers currently expect from a static function app that leaves the customer “totally anonymous.” In contrast, AppSmyth’s unique, data-driven personalization capabilities drive frequency, dollar size, daypart, and reach, resulting in a dramatic increase in same store sales.
“Starbucks spent millions developing their app and millions more each year maintaining it. It’s driving about 10% of sales. I think they are very pleased with it. But again, at the end of the day, their customer is still totally anonymous. They have no ability to communicate specific, customized messages to their customers,” says Lynn.
Lynn points out AppSmyth is “painless and risk free” with zero development costs and no annual maintenance cost. Of course, the client owns all of data.
“I come at this from the perspective that I have spent hundreds of millions of dollars over the years on local store marketing, PR, and technology, and not a single time have I done that because I wanted to,” said Lynn, who is the former CEO of Shoney’s and Sonic Drive-In restaurants. “Not a single time was there accountability or audit trails. More often than not, there was a black box full of broken promises and major development costs. At its very best, at the end of the day, my customer was still totally anonymous and we would all be hard-pressed to find a loyalty or coupon program that has really made a difference.”
“AppSmyth solves all of this quickly, painlessly, with no risk. There’s no development cost. It is user-friendly for the customer and the store-level manager,” says Lynn. “There are audit trails, not the least of which is because AppSmyth only gets paid on a success fee basis. I believe that AppSmyth will change the face of marketing and bless everybody in the equation.”
Wallace Hite, former COO of Backyard Burgers and Vice President of Sonic Drive-In restaurants, says his RP3 partners were “blown away” by AppSmyth’s capacity for changing the mobile marketing landscape.
“It began to crystallize for me what Appsmyth’s potential was as a company. All of a sudden, I realized that this is a data company like no one else in our industry has,” said Hite.
Hite understands that restaurants are not early adopters of technology. “They just are not,” said Hite. “That is why we’ve got to get out there and tell AppSmyth’s story. No one is doing what AppSmyth is doing because it extremely challenging to do the data crunching, implementation, client success service, and audit trails.”
When illustrating AppSmyth’s capacity to his industry colleagues, Hite says he calls upon analogies from his hunter days. “I tell them, it’s like you know there’s a bird in a tree and you pull out the shot gun and shoot into the tree hoping you kill a bird – and that is the way marketing works. You hope you kill them with your message.
“With AppSmyth there are 74 birds on the tree and here are the 74 sniper shots to take out the birds,” says Hite. “AppSmyth is going to dramatically and forever change restaurants and retail marketing. As we are knocking on doors, we see people get it within the first five minutes.”
RP3 is not only facilitating introductions to the fast casual dining industry, but also to upscale restaurants and dinner houses. Lee Cohn, one of RP3’s founding partners, is recognized as a leading expert in restaurant concept development, management and operations. Cohn has served on the board of directors of Morton’s Restaurant Group, Marie Callendar’s, McCormick & Schmick’s, Quaker Steak and Lube, Mastro’s Steak House Group and Real Food Daily.
“People who have never dreamed of doing this, like the upscale dinner houses, are now moving in that direction because they have to, because the customer expects it,” says Cohn. “Everybody is going to like this idea because it benefits everybody. We are excited to introduce AppSmyth to our contacts. The AppSmyth team has been a lot of fun to work with and they are bringing forward a high tech product that we want our connections to know about.”
Lynn sums up his AppSmyth introductions to industry colleagues as a rare win-win for everyone involved. “I say if I am CEO or CMO, why not? Why not take this on? I can’t find any risk to it and it has a proven track record of driving same store sales. A coupon drop would get less than two percent redemption, and the brands that AppSmyth is working with get more like a 20% redemption rate at less than one-tenth of the cost on a per redemption basis. And this is on a success fee basis. We only get paid by driving more customer incidents. I have a hard time finding a flaw in all of that.”
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