This true story happened this morning at my Mount Waverley newsagency.
A new customer visited and made a modest gift purchase. On the receipt was a discount voucher for $4.00, which was pointed out to them.
They left the store and returned a few minutes later and made another purchase.
Then, twice more, they left the store and returned a few minutes later and made another purchase.
Over the course of four transactions they spent $388.00 for which we gave away around $30.00 in discounts, which is small when you consider the margin we achieve with gifts
The voucher guided them to look beyond their destination purchase.
here is a video I shot late last year in which I explain the vouchers some more. What happened today at Mount Waverley is not unusual. It’s another way we can grow our newsagency businesses.
This is a good example how a systematic approach to managing loyalty can. drive sales. There was nothing extra special about the approach in-syore. In reality, the software did the heavy lifting, calculating the discount opportunity and including this on the receipt.
It’s a thill seeing it work so well, work in different tilting the business.
In our Mount Waverley retail setting we compete with several gift shops. Plus, we have Chadstone less than 10 minutes away. Every win we can make is worth it to this small suburban retail newsagency.
While it was key we had products they wanted or were likely to want to purchase in the next few weeks, it was the practical opportunity of saving that mattered in making the $388.00 in sales a reality.
Any newsagent can do this.
While the Tower newsagency software was first newsagency software to offer discount vouchers back in 2013, others do now so newsagents with other software could have the type of success I have described here.
My point is – we all need to structure our businesses for these wins based on differentiation of our offers through smart loyalty marketing in businesses with broadly appealing gifts.
It’s good news and another example of small steps combining to create a good commercial outcome.
Whereas in the past we’d letterbox flyers and advertise in local papers. Today, using tech, we can guide greater efficiency from shoppers, maximising the opportunity.