In today’s complex digital world, bringing a new product to the market is not as simple as it once was.
There is no norm to the way people shop – it’s unique, personal and individual.
Long gone are the days when a new FMCG product simply bought it’s space in the retail shops and waited for the sales to fly in, as people went and did their shop, week after week.
The way in which people interact with brands is unstructured, with multiple touch points and several factors influencing their decision.
In a market saturated with hundreds of products fit for one purpose, and with companies competing against each other, fighting for air, it’s not just brands that have to work hard, it’s consumers too.
The paradox of choice is overwhelming. The marketing noise is deafening, and making a choice is hard.
They feel bombarded by the millions of messages they receive every.single.day. – billboards, Facebook, TV, Radio, Instagram, Snapchat, Google Ads, OOH, the list goes on.
Cutting through that noise, and getting your product into their hands to sample and buy is harder than ever and it needs to be met cleverly, with an innovative strategy across multiple channels.
Great brand experience and emotional connections are needed more than ever – more and more consumers say that the experience a brand provides is as important as the product or services it provides.
In fact, 84 per cent of customers say being treated like a person, not a number, is very important to winning their business (Salesforce,2018).
Our data backs this up, showing that the highest performing campaigns offering a compelling value exchange that aligns with the target audience results in driving 9 referrals for every 10 participants!
For years, we were approached by brands and agencies with multiple objectives that needed to be met; awareness, hype, drive offline traffic, a fantastic brand experience, data…but ultimately? Sales.
They wanted Peazie to do an exciting activation, which we know better than the back of our hands, but they also wanted measurement and optimisation with clear ROI, whilst strengthening relationships with retailers.
As well as all of the above, there is the data challenge.
On one hand, 62 per cent of customers say they’re more afraid of their data being compromised now than they were two years ago, yet, 59 per cent of customers say tailored engagement based on past interactions is very important to winning their business, (Salesforce, 2018).
In this complex digital environment, where privacy but personalisation is important, it’s tough to find the balance between knowing enough about your customer so you can give them a great experience, and knowing too much and seeming intrusive.
It’s no surprise that using digital coupons as an effective marketing technique has come in as a solution to these issues and that they are very much on the rise.
In fact, 31 Billion eCoupons will be redeemed worldwide in 2019, up from 16B in 2014, (ReadyCloud, 2018)
Why? Because they are a powerful opportunity to engage with your audience, reward them, excite them and give them a reason to buy or sample from you.
Offering an incentivised deal that stands out and aligns with your target audience? The right consumers will snap it up. And the retailers?
They’ll be happy too – knowing you are driving foot traffic to their store and that the offer will ensure the stock will get sold.
Peazie soon realised this was a space that we wanted to own through building a solution that answered the age-old question for retail and FMCG brands of “what is the direct impact on sales of my digital campaign?”.
We called on our years of innovation and a wealth of data to produce our sampling and sales driving mechanic that we now know and love so well, the Digital Coupon.
So, how does it all work?
Driving sales and sampling
Asahi Beverages – Somersby Cider engaged us when they were launching their new Cloudy Apple Cider flavour – they wanted to bring it to the market in a way that was different.
Their objectives were to engage with their target audience, encourage sampling and drive sales of the cans of cider as well as collecting highly qualified leads that they could use to market to in the future.
Leveraging our extensive efficacy data, we knew the best approach to meet Asahi’s objectives was Peazie’s Digital Coupon – a single-use, non-transferrable digital coupon facilitating offers that can be claimed in bricks and mortar stores and still be directly attributable to the customer – whilst building a database for the client.
This database could then be layered with details of any claims subsequently made to further understand their customer profile – Who was the customer?
Where were they when they claimed? And when did they claim? What media channel drove them to the offer? – valuable data to enrich future marketing initiatives.
So what kind of offer would be engaging enough to drive consumers to purchase a product they hadn’t tried before?
Peazie’s efficacy data suggested $15 for a 10 pack was an optimal value exchange incentive for people to engage with the promotion to drive sales.
The Somersby $15 10 pack promotion was brought to life!
A branded-microsite was then build to house the offer – UX-optimised for data entry conversions, complete with an age-gate to prevent underage claims, and we implemented Peazie’s Digital Coupon technology.
Download the full case study here.
Not only did Asahi Beverages engage us again but, Matt Arnott, Category Activation Manager at Asahi Premium Beverages said some pretty nice things about this campaign.
Arnott said: “The results were beyond our expectations with a huge 33 per cent of entrants redeeming the offer in-store, overachieving on our objectives in driving foot traffic to store and trial of the new product.
“Nothing was too much trouble. Very happy!”
Driving Foot Traffic and Sales
Driving sales and samples using the Digital Coupon is a clear objective that Peazie can implement with fantastic results, but they certainly aren’t it’s only uses.
There are many other ways to use it to meet objectives that may differ. Just like when we ran a promotion for Superdry Clothing.
They engaged us after they needed to drive offline foot traffic to the new store they were opening in Chermside, Brisbane whilst collecting data on potential future customers.
We went back to them with a solution that met these needs but also offered clear ROI and sales.
A redeemable voucher powered by Peazie Digital Coupon. This voucher was only accepted at the new store, encouraging participants to step foot in the shop.
Superdry saw the highest conversion rate 48.44 per cent coming from referrals, thanks to Peazie’s share capabilities.
This indicates an attractive campaign and it helped amplify Superdry’s media spend by extending the reach organically, to like-minded people.
Strengthening Retailer Relationships and Sampling
As touched on before, strengthening relationships with retailers is a key objective of brands.
A major FMCG brand approached Peazie with the objective to drive foot traffic into Woolworths across the country whilst driving awareness of the brand and collecting data.
A product sampling offer powered by Peazie Digital Coupon, that cleared the shelves within 3 days, despite the promotion being planned to be live for 2 weeks.
The promotion concluded with a customer survey resulting in over 20 per cent conversion rate, helping the brand gain valuable insights from their customers such as their experience with the promotion and their feedback about the product.
So what’s next for Peazie’s Digital Coupon?
Peazie’s 2019 Digital Coupon product roadmap will see releases to address the need of consumers wanting more personalised experiences, to give customers more freedom of choice.
Tune in here as we share exciting updates, more case studies and product demonstration.
Have a go trying out our current Digital Coupon demo here.
Peazie leverages its proprietary platform, an enormous database of historical campaigns and years of industry expertise to recommend, design and run highly effective competitions and promotions that deliver optimal ROI. Peazie help brands and retailers:
- Build and enrich their customer databases
- Engage and reward prospects and customers, and
- Drive and measure sampling and sales both online and offline