In recognition of a mission that has expanded far beyond its origins as a provider of printable online coupons, CoolSavings Inc. has changed its name to Q Interactive. The name change coincides with the completion of the previously announced acquisition of the company by the privately held Landmark Communications.
The new name signifies the company’s continuing growth in delivering targeted ads and offers across its advertising network, which itself represents an expansion beyond its original audience of the registered users of flagship coupon site CoolSavings.com. The ad network, now called the Q Network, delivers targeted advertising to consumers across web publishers such as Knight Ridder, Meredith Corp., and others, as well as CoolSavings.com and the company's other branded site, FreeStyleRewards.com. Ads are targeted through a proprietary system that factors in demographic, behavioral and transactional data to boost relevancy for the ads served to specific audiences.
The scope of marketing services at the company has expanded from the delivery of online printable coupons to include lead generation, e-mail and loyalty and rewards services, to drive both in-store and online sales and generate qualified leads for marketers’ outbound direct mail, e-mail and telemarketing efforts. The company’s Lead Generation Network, launched in 2004, now drives the largest share of revenue, accounting for $11.07 million, or nearly two-thirds, of net revenue of $17.23 million for the third quarter ended Sept. 30.
Driven largely by growth in lead generation services, net revenue for the quarter was up 92% from the same period last year. The company’s Lead Generation Network has delivered more than 100 million leads to marketer clients ranging from Wal-Mart to Netflix.
“The Q Interactive name and brand is the culmination of more than ten years of continuing advancements in our service,” says Matthew Wise, senior vice president of marketing for Q Interactive. “Today, our performance-based marketing programs span an extensive advertising network, helping more than 1,500 leading brands per year generate more than 100 million quality consumer responses.”
The CoolSavings brand name and piggybank icon will continue to be the face of the company’s original consumer savings site, CoolSavings.com.
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