RecycleBank may not only be the greenest advertising model out there — and everyone’s jumping onto that band wagon these day — but one of the most common sense new plays to come down the pike in years.
The program encourages and rewards consumer recycling, saves municipalities money, and creates value for advertisers in the process. Here’s how founder and CEO Ron Gonen explains it.
Families are given a free curbside recycling bin equipped with an ID tag. When the bin is picked up by a truck retrofitted with a device to read the tag, the family is allocated points based on the amount they recycle. They can log in online to check the level of their points, then redeem them for coupons from participating advertisers — Coke was first to sign on. Other local merchants such as Kraft, Petco, Staples and Dunkin’ Donuts are also participating in the company’s Wilmington, DE pilot program. Basically, these advertisers are rewarding highly loyal consumers who are doing good, and who are feeling pretty good about themselves in the bargain.
Coupons are snail-mailed to consumers, providing advertisers with yet another messaging opportunity. Yes, the company’s fully aware a paper-based reward might not be the greenest thing on earth, but in order to get city government on board, they’re compelled to offer that option.
RecycleBank makes its money not only from ad revenues, but also from the municipalities that sign onto its program and see significant savings as a result. Disposing of waste costs more than recycling, apparently.
How can you not love a program that’s equal measures of smart, green, and win-win?