Loyalty Conversions
Incremental Revenue Streams
Voice of Customer Surveys
The checkout experience is a critical touchpoint in a retailer’s relationship with its customers, yet many haven’t fully optimized the process. By ignoring these opportunities, businesses are leaving money at the register and placing themselves at a competitive disadvantage.
But there’s an easy way to change all of this.
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With Synapse Group, you can transform checkout from a one-time transaction into the start of a long-term, high-profit relationship with customers.
A fully realized checkout strategy can:
Cultivate and increase customer loyalty
Earn additional revenue
Collect critical, actionable data about customers
Enhance the store’s brand
Synapse Group works with its partners to build customized loyalty programs and customer-engagement solutions that enable retailers to further monetize the customer journey and bring shoppers back to the store with increased frequency.
Explore this interactive site to learn how to:
Develop LOYALTY CONVERSION strategies that add immediate value at checkout
Drive INCREMENTAL REVENUE with high-performing incentives and subscriptions
Leverage data from VOICE OF CUSTOMER SURVEYS to strengthen shopper relationships and increase sales
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EXPLORE VOICE OF THE CUSTOMER SURVEYS >
DISCOVER HOW TO DRIVE LOYALTY CONVERSIONS >
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Transform checkout from a transaction to a long-term, high-profit relationship with your customers.
A fully realized checkout strategy opens doors to:
Cultivating and increasing customer loyalty
Earning additional revenue
Collecting critical, actionable data about customers
Enhancing the store’s brand
Explore this interactive site to find out how to:
Develop strategies that add value at checkout
Harness the power of instant, tangible incentives to ensure a compelling customer loyalty program
Capture and use shopper data to strengthen customer relationships and make them more profitable
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Entice customers with tangible rewards
All retailers need a comprehensive checkout strategy, but it’s especially critical for small- and mid-size brands that face tough competition from larger players.
The most effective checkout strategies introduce and reinforce a comprehensive loyalty program, while maximizing the value of information gathered from loyalty program members.
82% of U.S. adults are loyal to brands and loyal to retailers. They’re also likely to participate in loyalty programs: 48% of consumers are enrolled in 4 to 11 loyalty programs and 21% are signed up for 12 to 21 loyalty programs.
However, almost all (96%) of consumers say companies should find new ways to inspire customer loyalty and 78% are retracting loyalty faster than in the past. More than two-thirds (69%) of consumers believe most loyalty programs are difficult to join or are structured so that it’s hard to earn rewards.
Building your loyalty program so customers receive a free reward for joining at checkout can enhance its appeal to customers—and increase the odds of enrollment by 50%.
Tangible takeaways drive loyalty and customer engagement...while also increasing retailers’ potential to generate far more repeat business and tap into new revenue streams.
of shoppers join loyalty programs because of free giveaways.
of consumers expect loyalty benefits to begin immediately — not days, weeks, or even months later.
consumers would return to a store in exchange for a free gift.
With every subsequent transaction from a loyalty program comes a reward for retailers, including...
Data about the customer’s wants, needs, and shopping patterns
of retailers who offer benefits the first week after signing up a new loyalty member report weekly shopping by that customer.
Align merchandising with POS around the customer
It’s crucial to align your service and marketing programs around your customer’s interests and shopping habits.
of consumers shop with brands that provide offers and recommendations that are relevant to them.
Companies that offer tailored service and marketing programs see 55% greater annual increases in customer satisfaction rates and 7.6 times greater annual increase in customer retention rates — which adds up to a hefty cash injection.
from an integrated POS system
gleaned from a loyalty program and customer surveys
from customer interactions and a
Integrate the online and in-store experience
Retailers that integrate their in-store POS system and in-store loyalty solution with their online POS system and loyalty solution garner increased sales and market share. This is because an integrated platform supports an omnichannel approach, with customers enjoying the same loyalty “perks” and incentives whether they are shopping in-store or online.
POS and loyalty:
Putting data to work:
Systems integration enables you to collect and review shopper data from your loyalty program — for instance, purchasing histories and customer preferences. Based on this data, identify which shoppers will be most receptive to special in-store promotions or should be reminded of available rewards. The more relevant your offers and rewards, the more likely consumers will be to come to the store, spend more, and stay longer — putting revenue in your cash register rather than in a competitor’s.
High-quality incentives at the checkout drive conversions, improve the shopper experience, and bring shoppers to stores more often.
Companies with strong loyalty marketing programs grow revenue 2.5 times faster than their competitors.
50% to 60% of consumers say membership in a loyalty program increases the number of times that they visit the store that offers it.
81% of consumers say they spend more money at stores whose loyalty programs they have joined.
Loyalty programs boost sales by 25% to 95%.
A 5% increase in retention — which can be spurred by a loyalty program—yields up to a 95% increase in profits.
Customers who are highly engaged buy 95% more often than those who aren’t—and a loyalty program can foster that engagement.
An additional opportunity to communicate with the customer
Depending on the incentive, you can earn additional revenues — like a percentage of a magazine subscription renewal long after the initial transaction
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56%
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91%
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Think of the value of properly aligning POS this way...
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Here are the top 3 priorities for successfully monetizing the checkout experience.
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DATA
CUSTOMER INSIGHTS
INCREASED VALUE
HIGHER ROI
from your service and marketing programs
Added revenue — at no extra expense
AN INCENTIVE THAT INCREASES INCREMENTAL REVENUE
Magazines are a proven, high-performing loyalty incentive…and consumers’ affinity for them is increasing.
In 2019, the ranks of U.S. magazine readers numbered 228.7 million—an increase of more than 4 million over 2018 and the highest number since 2012.
Synapse has teamed up with its parent company, Meredith Corporation, one of the most influential lifestyle publishers in the world, to create a unique incentive that harnesses the universal appeal of magazines and the instant name recognition of some of the world’s most popular magazine titles. Under the program umbrella, we provide retailers with a premium, customizable Meredith publication to drive loyalty and repeat business at the checkout.
The program is easy to administer, comes at no extra cost to retailers, and includes point-of-sale (POS) implementation as well as employee training. Here’s how it works:
STEP ONE:
Go beyond checkout
Customers are presented with compelling content from leading publications, creating a positive impression of the retailer and kicking off a valuable relationship.
Retailers can showcase their brand with customizable pages while providing special offers.
At checkout, shoppers are offered a free incentive if they join the loyalty program. This kicks off more personalized customer engagement and supports additional checkout strategies.
STEP TWO:
Retailers add a SKU at checkout that enables customers to choose from Meredith publications. Synapse manages all aspects of customers’ subscription, including processing and future deliveries.
Retailers share the revenue for every magazine SKU sold.
Offering the magazine incentive with a loyalty program adds revenue to each transaction and adds value to the checkout process:
A customer incentive program that lets retailers engage and earn more with every customer interaction is only as attractive as the brand that stands behind it.
Primed for success
The Meredith brand delivers on the promise of unrivaled consumer reach, influence, and appeal, positioning retailers to successfully execute a loyalty strategy that increases market basket size and the frequency of customer visits to stores.
The Meredith brand connects retailers with an unparalleled, extensive network of peers and potential new partners:
An unparalleled, extensive network of peers and potential new partners
Meredith’s publications reach 95% of all women and 90% of all Millennial female consumers in the U.S. In fact, they rank higher than Google, Facebook, and Amazon in reaching women. As the number one-magazine publisher in the U.S., Meredith brings even more to the table, including:
Partnerships with over 200 leading brands to forge stronger customer connections
Magazine publishers introduced 139 new print magazine titles in 2020 alone, appealing to a wider-than-ever range of readers and catering to more diverse reader interests than ever.
78% of consumers consider “LOSING THEMSELVES IN A PRINTED COPY OF A MAGAZINE” to be a “REWARDING EXPERIENCE.”
Generate high incremental revenue with a one-of-a-kind magazine incentive that sparks a major boost in customer engagement
consumers across multiple platforms
unique visitors
readers
175,000,000+
140,000,000+
120,000,000
A track record of creating more than $1 billion in partner profits
Implied endorsement from highly influential, iconic brands
STEP ONE
STEP TWO
STEP THREE
228.7M
78%
NEXT: VOICE OF CUSTOMER SURVEYS >
Health & Fitness Science & Nature Food & Cooking Home & Garden Entertainment Sports & Recreation Women's Interest And more ...
Ensuring a positive customer experience is a cornerstone of building and maintaining customer loyalty — at the checkout and beyond. According to a study by Walker, customer experience was projected to overtake price and product as a key brand differentiator by the end of 2020.
Meredith Corp.’s Bizrate Insights division works with retailers to conduct “voice of the customer” surveys that reveal a wide range of critical insights, from product selection to the caliber of customer service they received, and much more.
Bizrate Insights collects 25 million surveys annually and is one of the largest sources of verified customer-generated ratings and reviews.
Why — and how — retailers should listen to the "voice of the customer"
More data, more impact, flexible distribution
Trusted survey source
Retailers can conduct post-sale surveys to learn more about shoppers’ experiences and preferences. These “voice of the customer” surveys can identify where change is needed and uncover valuable insights beyond POS data.
86% of consumers are willing to pay more for a “great” customer experience, and 91% shop primarily or exclusively with brands that provide them with relevant offers and recommendations.
76% of consumers will trust a retailer or other company that provides “good” customer service. A “good” customer experience makes consumers 64% more likely to continue doing business with a retailer or company that’s new to them.
But only 40% of consumers will trust and continue to patronize a company whose customer service is less than stellar. And just 30% of consumers continue to do business with any company after they’ve had a bad experience with it.
By reengaging shoppers after they make a purchase, retailers can learn more about the incremental revenue opportunities that will resonate with their customers and gather actionable data that reflects the views of hard-to-reach shoppers.
The Bizrate Insights platform is flexible, so retailers can conduct surveys when they want to and through the medium that best meets their needs. Surveys can be issued through several customer touchpoints, such as:
In-store, via kiosks or coded/QR handouts
Store-specific details can be passed through survey invitation links. Retailers also have the option to create unique invitations for each customer, increasing the likelihood of response.
The end-result: insights that enable retailers to create a best-in-class customer experience, enhance customer engagement, increase repeat business and shopper “stickiness,” and build a better bottom line.
Post-purchase, through telephone surveys promoted on paper or emailed receipts or via follow-up emails
76%
CX
Reengaging shoppers post-sale
Join 5,000+ retailers who are unlocking powerful insights across all areas of customer experience, including:
Net promoter score Site usability Order tracking Seller ratings Competitor benchmarking
Site abandonment & save-the-sale Email list building Location-specific feedback And more
Survey gating is structured to collect unbiased, timely feedback, and Bizrate Insights’ analysts can help to formulate custom questions targeted to retailers’ in-store experience.
