“Gift Tuesday” from FreeMonee Puts Millions of National Retailers’ Dollars Directly in Shoppers’ Pockets for Black Friday
Make room in the sleigh, Santa—even more gifts are coming to town this holiday season as the world’s first and only provider of consumer gift incentives, FreeMonee Network, celebrates its first year of delivering irresistible gifts of money to consumers with Gift Tuesday! Today also marks the day FreeMonee will alert shoppers to the gifts that national retailers, from Godiva to Williams-Sonoma, will deliver in time for Black Friday.
FreeMonee Finds Little Fidelity in Fashion: Helps Retailers Win Back Cheating Hearts with Gifts
For retailers, this final quarter of the calendar year is when sales targets are made or missed. Marketers try every method in the book to entice shoppers into stores, from BOGO (buy-one-get-one) and couponing to Santa’s visits and puppies in the windows‑and for good reason. But to what return?
FreeMonee gets the right incentives to the right customers
With no strings attached, customers will visit the store to use the card, but most also leave with additional, unplanned purchases. Therein lies the power of gifting, a tactic [that] can almost guarantee a return—when marketed to the right customers.
Knowing where and when you shop — and what incentive it will take to get you to make an incremental unplanned stop at a merchant — requires a new type of science that learns from both consumer behavior and response to incentives.
A CMO’s 6 Tests for Evaluating Effective Marketing Programs
In response to this highly competitive environment, retailers are turning to new and innovative ways to gain a greater share of shopper wallets. With advances in “big data” solutions, there are new and powerful ways to gain insights into all the shoppers that matter for your business. Marketers are no longer restricted to targeting consumers in their loyalty programs. They can now tap into marketing solutions that allow a marketer to go after a broader base of customers and still deliver the right incentive to get shoppers in the door and buy more.
Commentary: The facts about card-linked incentives
There are many different types of card-linked incentives, some more effective than others, and their creators may make claims about their value that may not pan out once deployed. To help you sort out the “mythology” from reality, and make better choices about the incentives that will build new revenue, here are five claims about card-linked incentives—and a reality check for each one.
FreeMonee’s Gift Underwriting Engine engages in predictive science to determine what gift amount to give to which potential customer, resulting in increased foot traffic and profitable sales for the merchant.
By giving shoppers a gift, retailers get hyper-efficient marketing that can truly change consumer behavior and create profitable new visits at the scale they need. And shoppers feel a special connection to the gift-giving retailer, which carries into their shopping cart and future loyalty to the brand. We are on the verge of a seeing a significant shift in the economics of advertising and the rise of gift marketing.
“[FreeMonee is] already starting to see a massive shift from coupons as a primary incentive vehicle for retailers to gifts,” he says. “In the next two years I think you’ll see hundreds of millions to billions of dollars shifting to this new medium because there’s a lot of inefficiency in the promotion of coupons used today.”
The critical factor is not so much a company’s loyalty program, but rather its ability to get a customer in the door is the most critical factor in grabbing the maximum share of customer wallet during the holiday season or at any other time of the year.
My philosophy is no different than it was 25 years ago. It is all about knowing what your customer wants and making sure you are engaging in a way that fits with their choices and lifestyles. What has changed is the technology around not only new forms of engagement, but new levels of understanding of customer preferences and shopping habits.
Given a choice of a coupon giving you $10 off a purchase of $50 or more or a $10 gift card, I pick the gift card. And so do most consumers. So why don’t merchants scrap coupons and replace them with gift cards? [They will.]