Client:
Trade Rewards
Project:
Rewards Programme
The brief:
Our client approached us with the aim to drive revenue and growth into their business. There was potential to gain share of wallet from existing customers whilst attaining new customers in the market. By driving revenue and growth through growing existing customers whilst attaining new ones, it was important that a level of margin could still be sustained.
Year 1 Results
Registered group
260
Customers
38%
Uplift
£2.3m
Sales increase
Control group
714
Customers
3.9%
Uplift
£149k
Sales increase
Year 2 Results
Registered group
292
Customers
33%
Uplift
£4.6m
Sales increase
Control group
802
Customers
-2.5%
Decline
£46k
Sales loss
Year 3 Results
Registered group
281
Customers
35%
Uplift
£7.1m
Sales increase
Control group
760
Customers
-8.1%
Decline
£1.3m
Sales loss
Concept
Through a strategic consultation phase, we analysed the company’s existing customer base and assessed opportunities for onboarding new customers. Understanding the marketplace and competitive landscape was crucial, leading us to conduct in-depth data analysis to identify revenue-driving opportunities.
We developed a bespoke rewards program designed to work across the entire customer spectrum, from small trading companies to large organisations. The model aimed to drive incremental Year-on-Year growth by offering tailored incentives which stretched customer spend further at each level of reward.
The mechanic was simple, X levels of rewards; the higher you spend, the higher level of reward you achieve.
To ensure strong brand association, we created a custom identity for the rewards program, keeping the client’s name front and centre. A bespoke branding approach was developed alongside a fully functional marketing platform, incorporating a registration system and an integrated sales data login dashboard.
Drive revenue and growth
Increase SOW
Rewards loyalty
Engage with new customers and awaken lapsed
Drive consistent behaviour
Sales tool
Keep client name front and centre
Win hearts & minds
Experience
The program was supported by a comprehensive and bespoke marketing plan, utilising multiple channels to maximise engagement.
Execution involved:
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A dedicated website and sales portal that aligned with the clients brand.
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Creating relevant and motivating reward packages that won customers’ hearts and minds.
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An interactive e-brochure for easy access to program details and reward options.
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Targeted email and SMS campaigns:
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Regular sales drivers to boost engagement and drive sales.
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Invitation emails to encourage registrations.
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Team emails to update them of customer progress.
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Ongoing performance tracking with detailed reporting for optimisation.
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Regular data analysis and reporting.
Impact and Performance
To measure the effectiveness of the program, we tracked two customer groups: one that participated in the rewards program (registered group) and a control group that did not.
After each year, a post programme analysis was undertaken to ascertain learning, imporvements and eveolve the strategy.