Using Goodomy’s ‘Two-Way Incentives’ to Increase Your Retail Sales

Sep 19

Imagine a powerful incentive program for your business that works both ways: you give your customers an incentive to purchase, but your customers also give you an incentive when you put something on sale.

What if we told you that this method could allow you to have all the benefits of a sale but none of the losses? It would sound like business magic until you learn the clever – but simple – way in which this method works.

It's also very easy to get started. The Goodomy Shopping Cash App for your Android device supports every ecommerce platform and website your products are on. If your products have URLs, then you can use Goodomy to start linking them in the next 5 minutes. If your store has a physical location you can use it just as easily, without interruption to your normal retail workflow.

How it works is simple. The discount you offer for one item is converted into digital currency that you can use as an incentive for other customers to purchase other items. Customers pay you cash as usual plus Goodomy for the value of the discount. This two-step process is called Fiat Mining (FIMI).

To take an example, let's say that you have a product on sale for $70 that is regularly priced at $100, a 30% discount. When users on Goodomy purchase it they will use $70 in regular currency plus $30 in Goodomy, which will be automatically transferred into your account. Ordinarily, you would have lost the $30 in value when you sold the item at $70. But with Goodomy your discount is transformed into an incentive for another customer to make a purchase. Customers will want your Goodomy incentive because they can use it to get other items at a discount.

Step 1: Fuel up!

Fill up with Goodomy by offering any of your items at a 20% discount or more. Customers will pay for your item in cash plus the value of the discount in Goodomy dollars. Click the green '+' icon to get started. This is called a Sale listing.

Step 2: CASH Out

The last step in the Fiat Mining process is to provide incentives for customers to purchase your regularly-priced items. These incentives are handled automatically by the system. This is called a Bonus listing.

FIMI was created by the founder of Goodomy, Antoine Sorel Néron, who also created the world's first Initial Coin Offering (ICO), now a multi-billion dollar industry in the financial technology sector. He came up with the idea of FIMI when he began to see how later ICOs were used to enrich the founders and teams of the companies that held them (as a stock or security would do), rather than being able to benefit anyone that made use of the platform (as a utility would do).

With FIMI, everyone benefits. Businesses can get free advertising forever, needed liquidity, cash flow, and return customers; Consumers get the discounts they're looking for; and Goodomy gets the capital it needs for growth (through its 'GOOD' token).

We are now allowing the first 50 shops onto the Goodomy platform. Join us today for free to claim your spot and you'll get an extra $50.00 in your account when you add your 5th product by October 1, 2018.

Please note that you should only add product listings. Services and People listings will be deprecated and reappear with product listings at a future date.