RecycleBank

I want to go green and reduce my carbon footprints, but I don\'t like to use a buck on purchasing those expensive green tech stuffs, now recyclebank provides you an option that you can not only save your money but also save the earth at the same time. This process called single stream recycling introduced by the company is nothing but brilliant, it successfully promotes the incentives of garbage recycling among people by providing various coupon ... More >>

I want to go green and reduce my carbon footprints, but I don\'t like to use a buck on purchasing those expensive green tech stuffs, now recyclebank provides you an option that you can not only save your money but also save the earth at the same time. This process called single stream recycling introduced by the company is nothing but brilliant, it successfully promotes the incentives of garbage recycling among people by providing various coupon rewards from their partners. Let's briefly take a look at two basic aspects of the company:<br /> <br /> 1. Technology: the technology to make it all this work is based on a RFID tag that is embedded in the recycling container, the recyclebank community family is supposed to place all their unsorted recyclable materials into their respective recycling container, and the recycling truck will identify the tag on each cart through this RFID and weigh the amount of garbage. They are then converted into recyclebank points which could be tracked through your account and order your reward on the website or by telephone.<br /> <br /> 2. Business model: this innovative model incorporates individual consumer, business companies and government together into one transaction structure could result in a win-win situation for every participant<br /> <br /> a. The consumer will take an active part in it for their self consciousness—the amount of oil and trees they help to save as well as the rewards they can earn.<br /> <br /> b. The municipal government will benefit from the sorted materials and sell them to their respective users who will reproduce products instead of paying landfills to take the garbage.<br /> <br /> c. The manufacturers will also be glad to join in since these activities not only provides them with good reputation and recognition on environmental protection, but also reduces their production costs since some of the recycled material could be directly renewed into use (like coca cola). What's more listing on the reward partners and the rewarding coupon itself serves as a good ads and incentives for consumers to shopping their products.<br /> <br /> d. For recyclebank, this is obviously a profitable business, first it could get a significant margin from the municipality contracts, second its ability to draw potential consumption behavior will bring the online web into huge profits, and third later on its environmental health recognition and popularity could help to extend its collaboration with online transaction giants like ebay and Amazon which is expected to bring extra margin except from those traditional production industry.<br /> <br /> The recyclebank has been proved successfully and expanded quickly from Philadelphia to 70 districts in 6 states, and has received multimillion dollar investment from savvy venture capital (like KPCB), there is no doubt that recyclebank will be profitable, yet in order to maximize its profits, different marketing strategies should be chosen according to the target cities and areas based on their original recycling rate, population, and the existing trash disposal regulations and contracts. Overally this company is great.<br /> << Less