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50 Fastest Growing Private Companies to Watch 2016

Motivation through Innovation; Drive Loyalty with Merchandise Rewards Rymax Marketing Services, Inc.

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Rymax Marketing Services, Inc. has created and executed award winning loyalty and incentive programs for over 20 years. As a full-service loyalty marketing institution, Rymax provides turnkey solutions to drive employee motivation, engagement and retention through demographically and geographically targeted rewards. As the largest direct, brand manufacturers’ representative in the country, Rymax’s 13,000+ reward options deliver the power of choice via sought after, top name brands, including Michael Kors, Dyson, Nest, Callaway® Golf, and many more.

Rymax’s unwavering focus is on creating, implementing and administering customized employee recognition solutions, including: customer loyalty programs, events, sales incentives, corporate gifts, peer-to-peer, and spot recognition. Additionally, Rymax provides its clients with the ‘Next Generation’ of merchandise themed incentive events via R-S.I.T.E (Rymax’s Strategic Interactive Themed Events), which integrates R-Score, Rymax’s proprietary analytics platform that provides over 350+ premiere and diversified brands, strategically chosen based on criteria set forth by each individual client. In addition, Rymax offers Custom Fit Shoppe Events, Service and Milestone Awards, Room Drops, Gift Wrapping and Special Packaging, Individual Drop Shipping, along with a variety of other event enhancements.

Through partnering with Fortune 100 through 500 organizations from the Telecommunications, Airline, Financial, Automotive, Casino and Professional Sports industries, Rymax has established some of the most well-known and longstanding loyalty programs in the industry and continues to build and maintain winning relationships, laying the foundation for loyalty success.

Unlike other providers, Rymax is regarded in a unique, industry leading position by which they do not use any third party vendors. This enables their clients to not only save on overall program costs, but to also truly gain a turnkey solution to program support, development and management. All aspects of the programs that Rymax administers are managed in house, from customer service to marketing to fulfillment.

Rymax’s proprietary, customizable rewards platform, MaxSite™, is the foundation of their online rewards programs, functioning as the e-commerce site where customers can browse through 13,000+ reward options and place their order online. Additionally, MaxSite serves as the engine to deliver cutting-edge reporting and analytic capabilities, allowing customers to view and track program budgets and usage. Rymax prides themselves on understanding customer needs, and as such, has been recognized, multiple times, by the industry for their world class services.

Rymax’s customers are their number one priority. As such, providing an exceptional customer experience, with the highest level of quality control, customer service and fulfillment are of the upmost importance. Utilizing a state-of-the-art inventory management system, product catalogs are updated in real time, offering consumers live and direct access to the most sought after rewards available in the marketplace. Inventory is monitored by the minute enabling Rymax’s nation-wide network of its own warehouses to provide quick and efficient order fulfillment based on each consumer’s geographic location. Rymax’s fully owned and operated U.S. based call center provides customers with real time status updates and ensures all receive stellar service from the moment they place an order until it arrives at their doorstep.

As an all-encompassing resource, Rymax brings the most in-demand products, customized technology solutions and world class service to the corporate marketplace.

In Conversation with the President/CEO- Marc Farbstein

Why was the company established?
I saw the opportunity to enter into the growing multi-billion dollar incentive industry with a new perspective and strategy. By analyzing market trends, I noticed the incentive environment began changing, but the industry itself was stagnant. I wanted to fill that void in the market by reinventing the “wheel” with a solid strategy plan. My vision was to create a new business model that encompassed the best of both worlds – the incentive side and the rewards side, with single tier pricing, all under one roof. We believe in connecting people through the power of reward choice rather than generic logoed promotional products for a job well-done. The ability to redeem products from brands like Apple, MCM, Miele and more, not only creates value, but provokes engagement and strengthens loyalty. When strategically planning, we clearly consider all components of a loyalty program such as branding, timing, attractive incentives and rewards, value-proposition, loyalty currency (point system), and marketing channels. That is why we are still standing today, over 20 years later, as the leader in the incentive industry – continually empowering each innovative generation.

Tell us about your first product that was launched?
Instead of launching with a single product, I developed a business model that encompassed an abundance of reward brands. I saw a rapidly shifting consumer landscape that created a need to revamp loyalty programs with the best merchandise on the market. The technological evolution of watches the advancement of cameras, the replacement of tube televisions to today’s LCD and 4K televisions, and of course the penetration of the home computer into virtually every household is consistently changing. Our loyalty programs shift with that change. No single product will evoke the same response across all demographics; therefore, it is important to provide a diversified brand collection that generates a sense of purpose and evokes an emotional attachment to the customer. Providing people with the power of choice strengthens customer engagement, and retention, creating more value to your organization and keeps customers coming back for more. The most demanding products in the market translate into the most powerful reward redemptions and we focus on building strategic partnerships with luxury brands that consumers are craving. When you provide your customers with value Rymax Marketing Services, Inc. has created and executed award winning loyalty and incentive programs for over 20 years. As a full-service loyalty marketing institution, Rymax provides turnkey solutions to drive employee motivation, engagement and retention through demographically and geographically targeted rewards. As the largest direct, brand manufacturers’ representative in the country, Rymax’s 13,000+ reward options deliver the power of choice via sought after, top name brands, including Michael Kors, Dyson, Nest, Callaway® Golf, and many more.

Rymax’s unwavering focus is on creating, implementing and administering customized employee recognition solutions, including: customer loyalty programs, events, sales incentives, corporate gifts, peer-to-peer, and spot recognition. Additionally, Rymax provides its clients with the ‘Next Generation’ of merchandise themed incentive events via R-S.I.T.E (Rymax’s Strategic Interactive Themed Events), which integrates R-Score, Rymax’s proprietary analytics platform that provides over 350+ premiere and diversified brands, strategically chosen based on criteria set forth by each individual client. In addition, Rymax offers Custom Fit Shoppe Events, Service and Milestone Awards, Room Drops, Gift Wrapping and Special Packaging, Individual Drop Shipping, along with a variety of other event enhancements.

Through partnering with Fortune 100 through 500 organizations from the Telecommunications, Airline, Financial, Automotive, Casino and Professional Sports industries, Rymax has established some of the most well-known and longstanding loyalty programs in the industry and continues to build and maintain winning relationships, laying the foundation for loyalty success.

Unlike other providers, Rymax
is regarded in a unique, industry leading position by which they do not use any third party vendors. This enables their clients to not only save on overall program costs, but to also truly gain a turnkey solution to program support, development and management. All aspects of the programs that Rymax administers are managed in house, from customer service to marketing to fulfillment.

Rymax’s proprietary, customizable rewards platform, MaxSite™, is the foundation of their online rewards programs, functioning as the e-commerce site where customers can browse through 13,000+ reward options and place their order online. Additionally, MaxSite serves as the engine to deliver cutting-edge reporting and analytic capabilities, allowing customers to view and track program budgets and usage. Rymax prides themselves on understanding customer needs, and as such, has been recognized, multiple times, by the industry for their world class services.

Rymax’s customers are their number one priority. As such, providing an exceptional customer experience, with the highest level of quality control, customer service and fulfillment are of the upmost importance. Utilizing a state-of-the-art inventory management system, product catalogs are updated in real time, offering consumers live and direct access to the most sought after rewards available in the marketplace. Inventory is monitored by the minute enabling Rymax’s nation-wide network of its own warehouses to provide quick and efficient order fulfillment based on each consumer’s geographic location. Rymax’s fully owned and operated U.S. based call center provides customers with real time status updates and ensures all receive stellar service from the moment they place an order until it arrives at their doorstep.

As an all-encompassing resource, Rymax brings the most in-demand products, customized technology solutions and world class service to the corporate marketplace.

In Conversation with the President/CEO- Marc Farbstein

Why was the company established?
I saw the opportunity to enter into the growing multi-billion dollar incentive industry with a new perspective and strategy. By analyzing market trends, I noticed the incentive environment began changing, but the industry itself was stagnant. I wanted to fill that void in the market by reinventing the “wheel” with a solid strategy plan. My vision was to create a new business model that encompassed the best of both worlds – the incentive side and the rewards side, with single tier pricing, all under one roof. We believe in connecting people through the power of reward choice rather than generic logoed promotional products for a job well-done. The ability to redeem products from brands like Apple, MCM, Miele and more, not only creates value, but provokes engagement and strengthens loyalty. When strategically planning, we clearly consider all components of a loyalty program such as branding, timing, attractive incentives and rewards, value-proposition, loyalty currency (point system), and marketing channels. That is why we are still standing today, over 20 years later, as the leader in the incentive industry – continually empowering each innovative generation.

Tell us about your first product that was launched?
Instead of launching with a single product, I developed a business model that encompassed an abundance of reward brands. I saw a rapidly shifting consumer landscape that created a need to revamp loyalty programs with the best merchandise on the market. The technological evolution of watches the advancement of cameras, the replacement of tube televisions to today’s LCD and 4K televisions, and of course the penetration of the home computer into virtually every household is consistently changing. Our loyalty programs shift with that change. No single product will evoke the same response across all demographics; therefore, it is important to provide a diversified brand collection that generates a sense of purpose and evokes an emotional attachment to the customer. Providing people with the power of choice strengthens customer engagement, and retention, creating more value to your organization and keeps customers coming back for more. The most demanding products in the market translate into the most powerful reward redemptions and we focus on building strategic partnerships with luxury brands that consumers are craving. When you provide your customers with value that’s relevant to them, but goes beyond what your company alone can offer, you’re showing them you understand and care about their needs. This also helps you grow your network to reach your partners’ customers as well. Loyalty programs should increase customer happiness and retention, and we are consistently striving for that positive outcome.

What challenges did you face in your initial years? What can your peers learn from it?
Navigating a business is extra tricky. The speed of economic and technological changes means that the right taken yesterday may not work today and could be a disaster tomorrow. However, by building a company with departments consisting of knowledgeable and experienced industry experts, solving these dynamic problems has allowed us to separate ourselves from companies who have been closing their doors. All of us, and especially business leaders, find great discomfort in uncertainty. The sad truth is that with uncertainty, companies tend to shy away from long-term commitment and planning. Knowing this information, I learned to balance the need for a more reactive short-term focus with the need for informed, long-term strategies. This allowed me to avoid the challenges companies are still facing today. There are many individuals in today’s world that are struggling to be more successful, to make the next quarterly earnings estimate, to earn a big bonus, to keep their job, or to compete effectively. It’s never been easier to start a business. Gone are the days when it took months and a myriad of forms to get your company started. Today, all you have to do is buy a domain name and register your business online. However, staying in business requires substance and performance. You will come across competitors selling the same business model as you are, but you must determine how to separate yourself from being just another company.

The increase in overall selection and more focused completion will make it more difficult for businesses of all sizes to retain customers who can change their suppliers with a click of a mouse button. It’s a battle of perception, focus and marketing. My advice to new business owners is to master these elements and provide a great customer experience. Figure out the right marketing channels to get your message out. Where are your customers and what is the best way to reach them? What is the right messaging? Identifying what your customers want and doing a better job of delivering it to them will make all the difference in your company’s future.

What do you feel are the reasons behind your product popularity?
For the first time, workplace demographics span four generations and as such, it’s important to develop customizable incentive programs that cater to individuals of different life-stages. Successful companies need engaged employees and those who want to contribute to the organization’s profitability. However, engaged employees can only thrive in work environments where they feel valued and will be rewarded for their hard work. With on-the-spot rewards, whether it’s the newest fitness tracker by Garmin, outdoor equipment from Thule, the latest speaker systems from brands like Klipsch or KEF Audio, or even fashion accessories from John Hardy, Stella McCartney, Burberry or Salvatore Ferragamo, employees not only feel appreciated, but have the power of reward choice. The retail industry is more dynamic than ever, and the incentive industry must evolve in order to succeed in the next decade. We are continually structuring our programs in a way that speaks to all demographics. It’s imperative to know what works in today’s economy with today’s diverse, multigenerational workplace. Your employees put a high value on what is useful to them. They already know what they want and will most appreciate something they will use. Focusing on consumer demands and keeping up with retail trends enables us to expand our reward choice into different categories such as jewelry, handbags, fitness, watches, outdoor/recreational gear, children’s toys, and more. As competition starts to heat up, your program has to standout – and that’s what we continually focus on. By staying on top of market trends and analyzing the consumer demands, we are always able to provide our customers with something that they want.

What kind of mixed responses have you received from your consumers over the years? How have they motivated you to shape your offerings/grow the company?
The foundation of our success is built upon the relationships that we have established with our clients, working together in a collaborative and consultative fashion. We hold quarterly business reviews and brainstorming sessions to ensure that our programs remain fresh and trendy with the latest tech gadgets, wearables, handbags, jewelry, and more. When we won the Freddie Award with MGM Resorts International for best consumer promotion, it was a shared recognition that was built upon a solid relationship between our client and us. Additionally, our clients are always impressed by the level of service that we provide, which motivates us to continuously enhance and reevaluate our processes to deliver nothing less than the best. From calling into our in-house customer service center to our fast fulfillment to our on-site event experts and personal shoppers, our customers are our number one priority and best in class service is of the upmost importance.

Do you have any new products ready to be rolled out into the market?
This year alone, Rymax has welcomed 60 new brands into its programs. The company currently procures over 13,000 products from our 350 factory direct brand partnerships, providing the best pricing in the industry to our clients. We work closely with our brands to ensure that our clients are receiving the most competitive pricing available – significant discounts below standard retail price. Therefore, our clients receive rewards with high perceived values, but at a significantly reduced cost to their corporation. In an era of open innovation and rapidly diversifying knowledge, we continue to push the envelope with new engaging products that create value and redefine loyalty.

Where do you see you and your company a couple of years from now?
I see Rymax continuing to be the preeminent provider and industry leader in the rewards and recognition space. We’ve had 9 consecutive years of 20%+ growth and I don’t see it slowing down. I believe that as retail shrinks, our business will increase as brands need outlets that build brand equity and deliver sales. Rymax isn’t just a recognition company. We are a recognition partner that takes your business to the next level. We have been expanding at a rapid rate and there’s no reason for us to believe that we can’t do it. Plus, I think it’s important to aim high no matter what you do. Within the base of employees, 80% are incentive industry experts with advanced degrees and experience. Innovative solutions require high creative, resourceful and motivated employees. At Rymax, we consider a challenging, respectful and rewarding work environment as an essential part of maintaining a workforce, encompassing the best and brightest talent in our industry. With that said, I can only fathom our company continually grows in a positive direction. Our experience and knowledge span all facets of the incentive industry and our vision is to provide loyalty and engagement solutions to the nation’s most complex challenges. With a long-term outlook, we can focus on building the entire industry and not just our business.

Meet the Executive

Marc Farbstein, President and CEO: As President and CEO, Marc is responsible for the overall direction of the company and the unique total in-house capabilities that Rymax offers its clients and brand partners. From design to implementation to fulfillment for incentive, recognition and loyalty programs, Marc has established some of the largest and longest running programs in the industry. With more than 350 brands and over 13,000 of today’s most sought after products, Rymax is the largest National Manufacturer’s Representative in the incentive industry and a leader in rewards and incentives. Marc is an experienced innovator and leader in the promotions and incentives industry with more than 30 years of experience.

“Rymax isn’t just a recognition company, we are a recognition partner that takes your business to the next level.”

“We believe in the power of recognition and the importance of motivating and engaging customers and employees through brand name rewards.”

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