This regional chain client uses Promotion Manager to track triggered welcome, birthday, family birthday, and wedding anniversary offers. Each of these channels represents a revenue opportunity for the client. The goal for Fishbowl’s product team was to analyze the data from all of the campaigns and recommend strategies and tactics to optimize each revenue stream:
The data showed the value of list building: each new member in the client’s database was generating greater revenue than the older members on the list. Specifically, within thirty days of joining the eClub, each new member had generated over $3 in net sales from the welcome offer. The data also showed that members joining via the client’s website were redeeming the offer at a much higher rate than were those who joined via sign up slips. Yet these web joins were only 30% of the total. What should the client do? The team recommended a strategy to drive incremental sales by:
- Optimizing the website to gain a larger portion of new members via the online join page
- Re-engaging the inactive members on the list
- Systematically retargeting the offer to non-redeemers
Birthday and Family Birthday Offers
The analysis showed that the birthday offer consistently drove over $11K in revenue per month for the client. And it generated net sales of almost $1.50 per member. On the other hand, the family birthday offer generated the highest average check of all the triggered offers, but had the lowest open and redemption rates. So the data pointed to the strategy we proposed:
- Improve open rates on the family birthday offers by using A/B testing on the subject line
- Generate a higher check average on both birthday messages by A/B testing different offers and drive incremental sales by retargeting non-redeemers
Wedding Anniversary Offers
The data from this campaign showed that the client was missing a large opportunity. Over 30% of eClub members didn’t have a wedding anniversary on file and thus weren’t receiving the triggered offer. Further, the sales that did result from the offer were highly concentrated because weddings largely happen in the May-August timeframe. Thus the results weren’t optimal for the client’s overall business, but the analysis helped us see the opportunity:
- Drive additional visits and net incremental sales by expanding the anniversary offer concept and introduce a member anniversary offer triggered on each member’s join date. This would help drive consistent monthly sales throughout the year rather than a surge during only the summer months from the wedding anniversary offer. Members would receive either the wedding anniversary offer or the member anniversary offer.
Through the analysis of the data, Fishbowl’s product team proposed not only a marketing plan to maximize ongoing campaign revenues, but also a forecast for incremental revenues. The team demonstrated the power of the Promotions Manager solution by using the data from each campaign to develop strategies and tactics that will optimize the next round of marketing programs.