The purpose of Purchase-Linked Promotions™ is to allow agencies and brands to close the gap between promotion-type marketing activities and understanding how they contribute to sales. Simply put, linking promotions to purchases to drive insights and sales.
Purchase-Linked Promotions™ serve as a simple solution to enhance promotional activity already being executed by brands and their agencies. By adding receipt upload for proof-of-purchase the link between promotion activity and participation to transactions at retail is established. Receipt upload is then utilized on the backend for Receipt Analysis.
Receipt Analysis is a growing trend among marketers. It is a wide reaching and easily integrated solution providing a direct line of sight to retailer and product performance, transaction data and shopper behaviour insights.
The best part of implementing a Purchase-Linked Promotion™ is that it integrates seamlessly into current marketing initiatives. There is no need for apps, or point-of-sale integrations, it works across all retailers and receipts.
The process for adding a PLP to promotions begins with a call-to-action (CTA) promoted through any number of media channels. As shoppers discover the promotion they’re encouraged (via the CTA) to purchase a product(s), upload their receipt, and in return, earn a reward!
While shopper participation happens on the front end, our proprietary Experience Management Platform, Tether™ XMP is collecting information in the background that is necessary to help marketers understand what’s motivating their new (or returning) shoppers to buy (or keep buying!).
Agencies and brands can leverage the real-time data collection that occurs during a receipt-upload promotion to uncover insights that help answer some of today’s most important marketing mysteries, like:
- What are shoppers doing and how do they shop;
- Why do shoppers take action and what motivates them to buy;
- How does media impact marketing ROI and;
- Are we making the right assumptions about shopper behaviour?
To help answer these questions data collection and analysis happens at three levels; promotion, retailer, and shopper behaviour. Each level analyzes different data points beginning at the macro level and working into micro measurements:
- Number of participants, purchases, and rewards awarded.
- Track against established goals and past performance benchmarks.
- Share of participants, transactions and sales by region, retailer and store.
- SKU mix, average transaction value and compliance by retailer.
- Demographic, behavioural, and supplemental “declared” data from surveys, feedback, and messaging.
- New vs existing customers (from past promotions).
The data points are then analyzed to draw unique correlations and conclusions to questions 1-4 listed above.
Analyzing the Data:
What are shoppers doing and what motivates them to buy?
Analyzing retailer sales receipts expose multiple shopper engagement details such as: date, time, location, retailer label, product SKU, transaction value, and specific product value per receipt, etc.. Each one of these data points is a building block to the story of consumer behaviour. When these data points are collected and connected over a series of promotional participation engagements, a comprehensive understanding of specific shopper behaviour can be developed.
Essentially, a brand gains the ability to tell a shopper’s story more clearly, like what time of day shoppers are more likely to visit their favourite retailer, which products they continue to buy and how much they’re willing to spend. It’s no secret, the better a brand understands its shoppers the better equipped it is to effectively communicate with them.
Marketing activity ROI and informed marketing decisions:
The deeper we dig into the analysis of a promotion, the more inclusive insights become. Clearer patterns begin to emerge around shopper behaviour and relating these behaviours to marketing initiatives will serve as a strategy that you can apply towards your continued promotional efforts. Some specific tactics that can be implemented include:
- Segmenting and targeting audiences based on SKU items, and retailer preference.
- Implementing cross-brand promotions to improve basket size.
- Focusing on account specific programs for increased returns.
- Offering specific promotions, rewards based on time of day or day of the week.
When agencies and brands use Purchase-Linked Promotions™ for long term planning they continue to build a database of knowledge that results in a more streamlined and data-intelligent promotional process, which is measured by things like participants engagement and how that generates as greater overall ROI.
This can be applied to any type of promotional activity, like a Contest, Gift-with-Purchase, or Rebate for example. It’s time to start getting more out of the promotions you’re running and thinking about them in a data-driven way. Ask us about adding a receipt upload CTA to your next promotion and we can help you collect and analyze the necessary data to make informed marketing decisions.