Case Study - Lux Rewards

From an idea to a £1.5million valuation: How Boardroom Advisors supported LUX Rewards

LUX Rewards is a premium rewards scheme that helps high-quality restaurants to attract and retain high-spending customers. They are a scalable tech startup and were looking to identify sustainable and cost-effective customer acquisition strategies.

Business Challenge

LUX Rewards’ consumer advertising to acquire app users was far too expensive, so they were looking for alternative channels to reach their target market cost-effectively.

Solution

Boardroom Advisors helped LUX Rewards with a strategic plan to acquire users using a B2B2C strategy: selling their product to credit card companies, who would then distribute it to their customers. This method allows LUX to sign up thousands of customers, without spending a penny on marketing.

Result

LUX Rewards have signed up two credit card companies in the last month. These deals are estimated to bring in hundreds of thousands of pounds in revenue.

Quote from James, Founder

Boardroom Advisors bring vast business experience as well as strategic insight to help any small or medium-sized business looking to grow. The strategy that they helped to form has had a significant impact on LUX Rewards’ valuation and ability to scale.

 

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…invaluable strategic business advice in many areas…

Ian Gosden, Managing Director, Higos Insurance

…valuable assistance in setting objectives and arranging strategy plans…

John Freshwater, Managing Director, Permaframe

…no hesitation in recommending him as a Non-Executive Director…

Colin Flaherty, Chairman, Academy of Business Strategy