Reward & Loyalty program creation — Birk Cooper // Fetch
- Part 1 Reward & Loyalty program creation — Birk Cooper // Fetch
- Part 2Creating the Fetch Price Index — Birk Cooper // Fetch
Show Notes
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02:46Why millions of people use the Fetch Rewards appThe Fetch Rewards app gives people an easy way to save on the items they purchase every day. People are rewarded in fetch points for every receipt scanned and when they buy products from partners with the app.
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03:43How Fetch Rewards gets people to scan receiptsUsers are incentivized to scan their receipts because they are rewarded for those actions in real-time. Basically, by incorporating meaningful friction into the process, anticipation is created around the need to scan their physical receipts to be rewarded.
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05:31What Fetch Rewards app users get for scanning their receiptsFetch points are rewarded for every receipt that is scanned, no matter the source of the receipt. So, in addition to saving on purchases, users are able to benefit from cashing in their fetch points for gift cards.
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06:51Why the Fetch Rewards App is an effective businessThe Fetch Rewards app captures data-led behavior changes of consumers which enables behavior-led targeting. This creates value for brands in terms of understanding and being able to shift peoples buying habits.
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08:34How brands benefit from the Fetch Rewards partnershipPowered by the data from the Fetch platforms, brands have the ability to do precision targeting. Additionally, the Fetch platform allows brands to measure the impact of their programs on their business.
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10:58Getting users to interact with your brand on the Fetch platformBrands set up offers to target groups of users and drive certain behavior that they incentivize with fetch points. By doing this, brands can get a clear understanding of the verified incremental return theyre getting from being on Fetch.
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13:13Brands using performance marketing to drive interactions in the physical worldCurrently, all the brands on the Fetch platform are using performance marketing to scale operations. For example, Unilever is rewarding users who spend $30 on their products at any grocery store with 10,000 points that can be traded in for gift cards.
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14:33How the Fetch platform helps brands build longWhen users understand that they will be rewarded for buying certain products, long-term behaviors are created. So, brands are able to create long-term value for the users that buy their products which leads to long-term revenue generation.
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16:48How digital companies should approach reward program creationDigital companies must consider whether theyll be able to do the rewards program well, and they have to think about user experience. When done well, reward programs can help to build relationships with consumers.
Quotes
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"We have over 6 million daily active users scanning 9 million receipts. And the reason they do that is they get rewarded. So, they get fetch points on every single receipt." -Birk Cooper, CMO, Fetch Rewards
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"When you buy a new iPhone and take the box off, there's that suction, that little moment of friction that they purposefully interject into product design that builds in a little bit of anticipation." -Birk Cooper, CMO, Fetch Rewards
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"Scanning a receipt is this thing that you have to physically do. But it gives us the ability to make it this fun rewarding experience that people have." -Birk Cooper, CMO, Fetch Rewards
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"There are people in our company that say we're merchants of fun within the saving environment. And, it's that combination of having fun and saving money that we've unlocked." -Birk Cooper, CMO, Fetch Rewards
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"Our users are scanning 90% of their receipts, and we're capturing 90% of their spend. So, the ability to see across all purchases and influence all that behavior is really powerful." -Birk Cooper, CMO, Fetch Rewards
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"The average person doesn't want 20, 30, 40, 50 different rewards programs. They want one easy, simple way." -Birk Cooper, CMO, Fetch Rewards
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"The precision targeting that you can do because of the data on the Fetch platform is extremely powerful. Coming out of that campaign that you run on Fetch, you can understand the exact impact that it had." -Birk Cooper, CMO, Fetch Rewards
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"Reward programs done right are extremely powerful for building relationships with consumers. Our belief at Fetch is, if you create value for a brand, you deserve to be explicitly rewarded for that." -Birk Cooper, CMO, Fetch Rewards
- Part 1 Reward & Loyalty program creation — Birk Cooper // Fetch
- Part 2Creating the Fetch Price Index — Birk Cooper // Fetch
Up Next:
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Part 1Reward & Loyalty program creation — Birk Cooper // Fetch
Birk Cooper, CMO at Fetch, looks at the efficacy of loyalty and rewards programs. During the pandemic, consumer spending was up, demand was high, supply chains were in shambles, and prices increased as a consequence. Now, we’re starting to see a shift in demand, and, with purchase behavior being ‘up for grabs’ with shoppers, the data the Fetch Index Price provides is crucial for brands looking to grab market share and change buyer behavior long-term. Today, Birk discusses creating the Fetch Price index.
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Part 2Creating the Fetch Price Index — Birk Cooper // Fetch
Birk Cooper, CMO at Fetch, looks at the efficacy of loyalty and rewards programs. During the pandemic, consumer spending was up, demand was high, supply chains were in shambles, and prices increased as a consequence. Now, we’re starting to see a shift in demand, and, with purchase behavior being ‘up for grabs’ with shoppers, the data the Fetch Index Price provides is crucial for brands looking to grab market share and change buyer behavior long-term. Today, Birk discusses creating the Fetch Price index.
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