Risk-free marketing programs guaranteed to increase sales
Whether you are judged on foot traffic, conversion rates, sales, or creativity, meeting your objectives is a challenge in today’s market. Consumers are inundated with messages, and yours sometimes gets drowned out. Or the focus of your promotion doesn’t match the consumer’s needs.
You are faced with programs that are expensive to implement and difficult to measure. Major campaigns focus on driving foot traffic, and you have to play catch-up in each market to ensure that you get enough traffic to meet the sales goal.
Imagine a successful, high-converting marketing program that pays for itself and runs hands-free. It is achievable, attainable, and can be launched in a matter of months with little involvement from IT. It does not change any of your existing creative or media buys, yet it significantly enhances your results.
The program generates new revenue from the people in the store, maximizing the value of your foot traffic. Unlike beacons, it does not discount sales that would have been made at full or near-full price.
According to our research, most consumers make a special trip to the store to make a return. Then 90 percent of them leave empty handed. In the US alone, that leaves $267 billion on the table. You can claim your fair share by using Retail Rewards® to incentivize consumers to stay in the store and spend their refund plus a little more.
Retail Rewards lifts the store revenue by increasing conversions from the existing foot traffic. These are people already in your store; they are best positioned to buy today. Retail Rewards stimulates additional purchases from this group.
Retailers using the solution see an increase of about 1 percent in sales and up to a 121 percent increase in sales after a return. Retail Rewards does not issue an incentive at every transaction. They are issued when they will be most effective in driving additional revenue and preserving loyalty.
Issuing rewards allows your associates to extend a kind gesture to prove that the store values customer loyalty. The associate has to opportunity to say, “I’m sorry the item was not satisfactory. Let us make it up to you with this offer. We want you to be happy.” This level of individual attention surprises and delights consumers, and makes your stores more memorable.
The timing, usefulness, and value of the reward transforms a consumer’s tiresome task into a pleasant experience.
Returners are an untapped market segment that is uniquely reachable and persuadable.
Picture this, a good customer has made a return and has received a refund. Instead of just letting that revenue walk out the door, and then trying to recapture it in the future, you can target these customers with impactful messaging while they are still in the store. Additionally, if you have specific category objectives, your messaging can include triggers to boost those sales without your having to generate additional foot traffic.
Our solution generates intelligent, customized incentives on the fly using patented technology and a vast database of transactions. The solution connects the consumer’ purchase history in your store with purchase projections and delivers an offer that must be redeemed within hours of a return or a couple of days following a new purchase. The incentive, the time limit, and the merchandise credit or refund act in unison to drive additional sales.
Retail Rewards acts like a personal shopper, making the right offer at the right time. The results speak for themselves. Redemption rates average 16 percent, and some retailers see nearly double that amount (600 percent higher than traditional print and digital offers).
Read how this major footwear retailer increased sales and achieved high conversion rates from existing foot traffic by implementing our solutions.
See actual footage from a focus group of shoppers discussing the impact of returns on their purchasing decisions.
This two-page document highlights the functionality in Retail Rewards and its ability to generate one percent incremental revenue by targeting consumers making returns.