This post was written by Loop Insights CEO Rob Anson and was originally…
Real-time Rebates Made Possible Through Loop Insights’ IoT Device, Fobi
Rebates and coupons are a proven tactic used by retailers and marketers to drive sales…
Rebates and coupons are a proven tactic used by retailers and marketers to drive sales and collect valuable customer information. For decades, paper coupons and rebates have dominated the retail industry, forcing “coupon cutters” to hunt through magazines, flyers and newspapers for the best savings.
While this tactic has enabled determined customers to reap the benefits of paper coupons of the past, the masses have predominantly been left behind. For retailers and marketers, widespread adoption is critical to the success of any coupon or rebate campaign. In order to reach the largest audience possible, modern marketers are increasingly turning to mobile phones and point of sale (POS) technology to provide a seamless means of engaging with customers after demonstrating a clear incentive to participate.
According to data provided by Businesswire, 60% of consumers are using a universal mobile wallet to make digital payments, providing an opportunity for digital marketers to capitalize on the platform’s ability to connect with consumers and deliver messages directly to their smartphones. By reducing the onboarding process to a simple “tap” of an NFC device, Loop Insights is taking advantage of the Wallet pass found on both iOS and Android devices to connect consumers to next-generation loyalty and rebate campaigns delivered through our existing receipts and our proprietary Wallet pass platform.
Through the power of Loop’s IoT device, Fobi, we are also able to insert rebates and reward programs directly into paper receipts of most PoS systems, enabling shoppers without a mobile device also to benefit from our clients’ rewards and loyalty programs. By reducing the hurdles to adoption, Loop Insights’ Engage solution is creating new levels of brand loyalty with customers regardless of their technological sophistication.
Loop Insights’ Wallet pass offers the next generation of retail engagement through real-time data inputs based on transactions, locations, and existing database information. Through the power of Loop’s Internet of Things (IoT) device Fobi or direct API integrations, our retail engagement platform ingests critical retail information in real-time, integrating with PoS systems to deliver digital rewards and loyalty programs through the Wallet pass on customers’ mobile phones.
When combined with the location-based technology of our subsidiary Locally, Loop is also able to integrate location-based data with transaction information to provide retailers with a complete overview of their operations, including customer spending habits, associated products, and other actionable insights.
By combining retail transaction data with location-based data through Loop’s Wallet pass, we are able to provide retailers, brands, and marketers with instant access to the target audiences that are most likely to convert into sales. Loop’s mobile Wallet pass is also capable of delivering personalized coupons and rebates instantly, rewarding customers for their participation in a seamless and efficient digital platform. With the simple “tap” of a smartphone, Loop’s retail engagement platform can onboard any customer, instantly creating a direct line of communication that can be leveraged for a variety of marketing campaigns, including:
- Loyalty programs
- Loaded value
- Direct-to-phone advertising above the lock screen
- Personalized and targeted marketing
For businesses that rely heavily on paper receipts, Loop’s agnostic IoT device Fobi is designed to integrate with any PoS system, sitting between the terminal and the printer to uptake transaction data and inject targeted rebate and marketing opportunities based on a variety of inputs including customer history, product pairings, and many others.
In 2020, Loop deployed a customized retail marketing campaign for JAK’s liquor store, enabling targeted promotions based on the retail information taken in by Loop’s device Fobi.
As a means of driving spend towards JAK’s preferred brands, Loop Insights created a discount promotion that was injected directly into JAK’s receipts, allowing customers to receive instant savings with a simple scan of their original receipt. These offers and promotions can be adjusted based on the retail data provided to each client, allowing retailers and brands to maintain the optimal marketing and sales strategy depending on their customers’ habits.
In the case of JAK’s, Loop was asked to deploy a “Brand Conquest” campaign to elevate sales of its preferred partner, Steamworks brewing. Rather than blindly spam customers with discounts, Loop’s Fobi device targeted customers that purchased any craft beer, a subcategory where Steamworks was fighting for market share. By offering the promotion only to craft beer purchasers, JAK’s was able to optimize its rebate offerings while increasing the probability of customer participation.
In the liquor industry and many other retail categories, purchasing habits can greatly influence the efficacy of any marketing campaign. Through the power of Loop’s AI-driven Insights platform, Loop is able to reveal these trends and habits, expanding the potential ROI of future campaigns as retailers fine-tune their promotions.