Moontoast announced today that it is changing its name to Spendsetter as part of an overall branding initiative that better positions the organization. The name change reflects a shift in the company’s focus from social rich media advertising to advocacy marketing. Moving forward with advocacy comes in direct response to organizations who have expressed the need to deepen the relationships with their most influential customers. The practice of advocate marketing identifies a brand’s most devoted fans and followers, and gives them the incentives and tools to evangelize the brand to their connections and beyond.
A brand advocate spends two times more, and recommends or shares two to four times more, than the average customer, according to Deloitte. Spendsetter helps brands solve the challenge of turning already loyal fans into true brand evangelists. The Spendsetter Mobile Advocacy Platform allows brands to interact with their advocates on mobile devices through native applications, location-based communications, mobile coupons, and mobile notifications.
Along with the name change, Jason Weaver, previous Moontoast Chief Product Officer, has been named Chief Executive Officer. Weaver has an extensive background in advocacy and will be driving the company’s product and strategy. Prior to joining Moontoast, Weaver served as the President and CEO of Spendship, a mobile-driven loyalty program, which was acquired by Moontoast earlier this year. Weaver fills the voids left by former CEO, Blair Heavey, who will pursue other opportunities as well as continue in his role as Entrepreneur in Residence at Babson College in Wellesley, MA, and Moontoast co-founder and Chief Business Development Officer, Marcus Whitney, who is assuming a full-time position at Jumpstart Foundry. Marcus and Blair will continue to be advisors to the company.
“Our clients in the market have spoken. Advocacy is the next emerging channel for marketing and something our clients have been clamoring for in order to take their brand awareness to the next level. Spendsetter does just that – giving brands the ability to leverage their most influential fans to build sales,” said Jason Weaver, CEO of Spendsetter. “With Spendsetter, our clients are leading the way in connecting with their on-the-go audience in an entirely new way.”
Spendsetter is a Mobile Advocacy Marketing Platform that allows brands to build their own database of brand advocates. The platform provides incentives/rewards, native applications, location-based communication, and a mobile rewards marketplace. Leaders across industries have worked with Spendsetter, including Vevo, Pizza Hut, Häagen-Dazs, P&G, Alienware, and Lexus. Spendsetter is headquartered in Nashville, TN.