Ok, Cheesesteak, let me re-clarify.... Sometimes hostility clouds things so I will
try it again.....I do not WORK for the company so I generally don't have much "better"
information then those of you who are calling Customer Service everyday. Occasionally
I will get some details through my broker (see above FYI about them eliminating the
driver's license requirement). I have an advantage over some due to my perspective
of having dealt with BBZ's nonsense and now MyFreeTravel. Others have a greater
perspective due to their having dealt with the Florida company AND BBZ AND now
MyFreeTravel.
My "...know so little about" comment was not directed at everyone. It was directed
to JM's comment (nothing personal, JM) about how I somehow magically got "taken
care of" due to my status as a "rep". Go back and re-read the post if you need to.
If you really want to understand the business model I can tell you what I "KNOW" of
it but again I don't sit in the boardroom of this company. BBZ's model was an advertising
based model that purported to take your scanned receipts and sell the information to
consumer product companies which would then have access to your buying habits.
The Visa cards that were suppposed to come to us (and they did send out some in
the beginning) were going to have ads and coupons for companies based on your
buying habits as per your receipts. BBZ was to profit off the ads that "rode" in with
your 12 Visa cards over the course of the year. They also had sponsored ads on their
various websites.
A very large investor (Michael Pouls) was lured into BBZ with the promise that he would
invest sums of money in order to modernize that company and take it to the next level.
He signed a 4-month contract in Feb, 2009 (give or take a month) and after a few months
there saw that the "advertising model" was not working as per BBZ's representation and
saw that it was only a matter of time before that company would implode. After his 4-month
contract ended he opted to leave for MyFreeTravel which had a much better (and longer)
track record of success in this industry. BBZ in their stupidity made large capital committments as if Mr. Pouls was going to be there forever and when he left they quickly imploded.
MyFreeTravel's business model with regard to the travel side of the business is what is
known as a "Usage Model". This means that the more people use the coupon and book
the trips, the more money they make. They would be ecstatic if 100% of the people
who were given their travel certificates (that the reps already paid for) would take
advantage of them.
As for the Gas & Grocery stuff that is a horse of a different color. That model is known
in the industry as the "Breakage Model". In this model the company (MyFreeTravel)
counts on most people NOT taking the time or effort to send in their receipts. If too many
do then they will lose money (hence the sometimes draconian terms & conditions). If usage
goes higher then a certain percentage, MFT has promised that they would first stop selling
the certs and fulfill the existing customers (DEFCON 1). If that ceased to work then they
would take money from the Travel side (which is profitable) and use that to fulfill the
Gas & Grocery side (DEFCON 2). If that wasn't enough they have an insurance bond
that they have purchased and could invoke to pay for the Visa Cards (DEFCON 3).
That is what I "KNOW" (or have been told). I am not a corporate sleuth that can get
classified intel from companies that I don't work for. I am doing my best to get info
out to people as I get it through this forum. Snide comments and hostility doesn't
move the ball forward.
I saw Beck's running the ad pushing these "$500 in free groceries" on television this morning. I did note the ad said nothing about third-parties running the program.
RSD - your response would be taken a bit more seriously if you'd have no ranted about people knowing so "little," and then going on and telling everyone what your "guess" is as to why people aren't getting what they signed up for.
If you're in the know, please let us know how these companies make money by offering these deals? What does it cost a retailer to hand one to each customer? $5? $10? Then they make another small take on the initial fees - right? How is it a money-maker? Is it from not paying out on every rebate given to a customer?
Just asking, as one of the folks who knows so little . . .