When Matt Moog joined CoolSavings Inc. as president and CEO, the company was solely focused on its branded desk station Web site that attracted consumers and businesses.
CoolSavings had developed an extraordinarily sophisticated, scalable and reliable technology and analytical infrastructure, allowing it to collect more than 6 billion data points on its more than 30 million registered U.S. households.
Beginning in 2002, Moog rethought the business to leverage this technology to create a distribution network. The growth strategy now encompasses providing best-in-class marketing in four key intertwined services: lead generation, e-mail, coupons and loyalty. The coupons business was enhanced when CoolSavings acquired a company with the technology to provide coupons that could be printed from a desktop.
In 2005, a separate brand — freestylerewards.com — was established for the loyalty business, and it is projected to generate exponential growth. The company continues to invest in flexible technology and targeting analytics.
One of Moog’s biggest accomplishments was re-establishing employee moral and confidence after the Internet downturn. He accomplished this with open and honest communication with all of the employees.
Each month, Moog produces an internal newsletter that discusses the state of the business, current developments with the company, financial results and future goals and developments. Retention is high, and the continued growth of the company allows it to attract passionate, engaged and talented resources.
By using open communication, working with his team and reinforcing performance-based goals, Moog has made CoolSavings into a winning company.
