Figg drives member enrollment for warehouse retail club and engagement for bank partner.

Goals

As the second largest retailer in the world, this membership-only warehouse has a large base of loyal customers. With sensitivity to their current loyal customers, they were looking for ways to target net-new members without mass membership discounts.

A leading financial institution was running a custom card-linked offer program through Figg for their cardholders. We worked with retail and financial institution partners to coordinate an offer-specific email campaign. The campaign promoted awareness for the card linked offer promogram by featuring a discount on an annual membership.

Strategy

By applying analytics to transaction data from our bank partner, we created custom segmentation targeting cardholders who had not made a purchase in 1 year (new customers). After that, we leveraged geotargeting to direct offers to cardholders in states where our client wanted to increase memberships.

Results

The campaign drove incremental lift and lifetime value for the membership-only warehouse retailer. In addition, the campaign promoted program awareness and brand loyalty for our financial institution partner.

Over 5 million cardholders received the promotional email, resulting in 253% incremental lift from baseline daily redemptions of the offer. With Figg’s unique data insights, we were able to measure the exact incremental impact of every dollar spent on the acquisition efforts—including a detailed breakout at the store-level.

Retailer scales its online grocery pick-up and delivery service through targeted card-linked campaign.

Goals

With the online grocery sector continuing to grow as more consumers shift grocery spend online, leading retailers and grocers are responding with convenient pick-up and delivery services. As the online grocery space fills with competitive services all fighting for customers, acquiring and retaining new shoppers is paramount as the sector expands, especially as the pandemic further accelerates the adoption of online grocery shopping with consumers staying home.

Strategy

Figg executed a campaign targeting card-linked ads to new customer prospects. Leveraging purchase data of 45 million cardholders, Figg served card-linked ads to consumers who had not previously purchased groceries from this retailer including those who were buying groceries online through competitors. The card-linked ad featured a 10% cash back offer to incentivize consumers to buy groceries online for the first time and was published across Figg’s financial institution partners to reach consumers through their mobile and online banking experiences. The campaign was supported by a dedicated email marketing campaign to promote the online grocery service and 10% cash back offer at no additional cost.

Results

The campaign led to the acquisition of over two-hundred thousand new online grocery shoppers, fueled by 119% lift in conversions. Amongst the new shoppers, 47% completed at least one additional online grocery order within 60 days of their first purchase. Following the campaign, this online grocery retailer gained 68% market share amongst new shoppers who had previously not used their service to buy groceries online.

 

National quick service restaurant elevates LTO with card-linked campaign.

Goals

Limited Time Offers are a fundamental part of the quick-serve industry and our partner was looking to maximize awareness for the promotion. In addition to increasing awareness for the LTO, this QSR wanted to drive incremental purchases among current customers.

Strategy

Figg created a custom targeting strategy that focused on New Customers (0X Purchases at QSR in last 12 months) and Lapsed Customers (0X Purchases in last 6 months).

The LTO (Limited Time Offer) was highlighted within the offer details to drive awareness and redemptions.

With thousands of locations across the United States, Figg made it easy for the QSR to launch the campaign. No staff training was needed for the promotion, as the offer was delivered seamlessly across Figg’s ecosystem of card issuers and publishers, Customers just needed to make their purchase with a linked card.

Results

Figg delivered a sales lift from new and lapsed customers resulting in $8.67 incremental sales for each $1 spent.  The campaign resulted in 112% incremental lift in conversions. Today, Figg continues to run national campaigns for other LTO efforts, each with long tail effect from repeat customer visits.

The average order value (AOV) for the test group vs. the control group was lower, which indicates that the LTO was most likely redeemed when the purchase was made.

Figg also worked closely with the brand to create custom reports to uncover additional learnings and findings in regard to their customer base. One such report was an LTV Analysis, which provided the brand with deep insight into their customer purchase behavior post campaign and measured the impact in actual dollars.

How incremental revenue can prove the real value of your marketing activities in dollars, not clicks.

What is incremental revenue?

Incremental revenue is a way to think about marketing in terms of dollars, not clicks. It turns traditional digital efforts — those that often push sign-ups and interactions — on their head to care about one of the most important business metrics: revenue.

Think of it this way: incremental revenue is the additional revenue you generate as a result of paid marketing.

Measuring incremental revenue is designed to give marketers a straightforward way to understand the business value of advertising’s impact. It compares results between audiences that see the campaign (your “Test Group”) and those that don’t (your “Control Group”).

Perhaps best is that it’ll allow you to easily review the results of your marketing effort, both in-store and online.

How is it truly trackable?

Understanding the success of marketing in terms of incremental revenue requires a bit of data, but it isn’t as difficult as other forms of attribution for many marketers. Because you’re focusing on an end — total revenue — and not clicks, page views, or other metrics that tell part of a customer’s journey to that revenue.

Measuring incremental revenue involves a comparison of the purchases or spending that the Test Group makes compared to your Control Group. The higher your Test Group spends, the better the value of your campaign.

When you first try this methodology, it’s best to limit other changes as much as possible. If you’re able to control for sales, other marketing, or seasonal differences between store locations, then you’ll be better able to determine that these changes are due to your new campaign.

The longer you use this methodology, the more insight you can gain from it. Tracking incremental revenue can also teach a business about its seasonality, recurring trends, and customer habits that will help it make smarter advertising decisions in the future.

Sometimes, with the right marketing dashboards and tools or with a powerful new type of campaign, you can understand the specific incremental revenue because these tools let you isolate new revenue.

What’s a straightforward way to get started?

Now, here’s what you’re really after: how do you implement a new campaign that makes tracking incremental revenue easy?

Figg has a unique advertising platform that can help you understand the lift of a new campaign based on incremental value, because we create a clear path from ad to sale. Our card linked advertising model allows you to tie spend to a specific sale, removing the guesswork around attribution.

Here is our platform in just five steps:

  1. Figg has established a large network of bank and publisher partners – from major financial institutions to leading national retailers. Your brand creates offers to entice customers, such as “Get 5% cash back on all purchases” and advertises them on our partner networks. Customer is served an ad, and claims reward offered.
  2. Customer enters card information. Customers go through a simple process to link any debit or credit card they wish to our partner’s program. Unlike some other card-linked offers, Figg can link to all three major credit card companies: Visa, MasterCard, and American Express.
  3. Customer uses the same card to make a purchase in your store. Next, the customer visits your business, in-store or online, to redeem the deal. He or she completes the purchase using the same card linked to the offer.
  4. You (the advertiser) only pay when a customer actually makes a purchase. Figg’s card linked platform doesn’t require our advertising partners topay just for digital ads that publishers run. With Figg, you’ll advertise on top websites and apps and only pay for in-store sales generated by these ads. You receive impressions and clicks for free, saving you serious money on advertising.
  5. Our platform tracks the path from online ad to in-store or online purchase. The Figg platform automatically comes with tracking, so you can trim the fat off complex models and nix additional services – saving you even more money. Track exactly how your online advertising spend is performing in real time, with transparent and auditable key metrics.

Figg drives attribution from your marketing efforts.

The Figg model is designed to track incremental revenue for digital marketing pushing both in-store and online sales. Some other systems or efforts may support you with online only, which can be tracked through targeting pixels and more.

Incremental revenue is a terrific way to do a quick check on the health of your business and marketing. It’ll show if you’re performing better through your new efforts and is a simple process to understanding how much incremental revenue each $1 of marketing returns.

We believe that return on ad spend should be straight-forward, especially when you’ve got to use it to justify new efforts to leadership. Incremental revenue calculations are a top way to make a case for your spending and demonstrate your value.

Not sure where to start or want to see how your current efforts stack up? Schedule a demo with our team to see how a card-linked advertising campaign can drive your business results.