Offers, Coupons and Promo Codes: The Key to Conversion (and So Much More)
If you’re thinking about coupons, offers and promotional codes as merely a way to get people in the door, we want to challenge you to think bigger about the potential of even the most basic promotion offers.
At Sparkfly, we see an offer as an opportunity to build brand loyalty, prevent fraud, and most importantly, measure customer conversion.
Let’s break this down a little more.
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Build Brand Loyalty
Coupons, offers and promotional codes are the perfect way to show appreciation for your current customers AND incentivize new customers to give you a try. However, the type and method for distributing the offer should be tailored to the needs of each.
Great Clips worked with Sparkfly to create a new Customer Journey Program providing New, Good, Better, and Great offers to reward loyal customers and increase frequency of new customers. Using customer behavior, Great Clips was able to appropriately target the offers to the right customer at the right time, resulting in triple digit ROI and winning a DMA ECHO Award for the best retail campaign in North America.
If you could predict which offers would resonate with specific customers, both new and existing, how many more brand champions could you create?
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With proper offer management, coupon and offer fraud can be greatly reduced or eliminated. You must have controls in place to ensure your offers get to the right people and aren’t abused.
First Watch wanted to reward customers with valuable offers to show appreciation and build loyalty, but concerns about fraud were significant. Utilizing Sparkfly’s offer management technology, First Watch was able to offer real-time, single-use offers that eliminated duplication and re-use and generated $2.5M in revenue across 60+ campaigns.
How much more confidently could you distribute offers if fraud was not a concern?
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Measure Customer Conversion
With effective offer management, you can measure customer conversion and gain valuable insight into the purchasing behavior of individual consumers and groups of consumers. Better yet, you can manage your campaign at the micro-level, tweaking messaging, targeting and delivery as needed to test and evaluate what resonates the most with you audience (or different sub-audiences). The data gathered from optimizing your offer management is invaluable and can provide insight that no other statistics can.
Sparkfly partnered with Hooters to create a new offer management platform that enabled customized loyalty offer distribution, tracking, validation and redemption through the app. By providing tailored offers and detailed tracking through the app, Hooters generated more than 255K redemptions and $7M in revenue.
If you could truly measure the success of your marketing initiatives, how much more effective could your messaging and strategy be?
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An offer is so much more than a foot in the door or closing one sale. It’s a chance to connect with customers, protect your business and gain valuable data that changes the way you do business.
Ready to optimize your offers? Contact Sparkfly today to learn how our Offer Management technology can elevate your offers today.