We've come up with a unique way to differentiate our clients' cashback rewards programs and help drive customer engagement, with a new program called Boosted Offers.
With Boosted Offers, our clients can incentivize purchases by offering higher cash back rates, to drive increased participation in their cashback rewards program.
What is Boosted Offers?
Wildfire's Boosted Offers program allows clients to set a special budget to enhance customer cashback rewards at select merchants. Boosted Offers provide the way to deliver the most competitive cashback program rates at merchants where clients' customers shop the most.
Think of it as additional cashback that's funded by the client, on top of any cashback rewards the customer earns from a merchant. In effect, clients use their own budget to "plus-up" cashback to consumers.
The budget is set by the client, and includes these variables:
- Merchants: How many merchants, and which ones?
- Boosted Rate: How much to "boost" the existing cashback?
- Promo Period: How long to run the program?
Wildfire is flexible. Using these variables, we work within a given budget, or we can build one that matches the client's desired selections and tell them what the budget should be.
How It Works
Wildfire works with our client to set budget, promotion timing/duration, merchants, and how much to boost the cashback rewards on a purchase.
Individual merchant cashback offers can be boosted by different amounts, expressed as a multiplier of the end customer's share of the original merchant offer.
Example: A client wants to boost cashback "0.5x" for customer purchases at Turkish Towel Store. The merchant is now offering 10% cashback, but during the Boosted Offers promotion, the client will pay their customers an additional 5% out of their own budget, so the customer now earns 15% total cashback on purchases made during the promotion.
Once a budget and plan is finalized, clients send Wildfire the additional budget funds and turns on the boosted offers at the agreed upon time, with Wildfire presenting boosted offers in clients' cashback browser extensions at the specified merchants.
In turn, clients need to strategically promote their Boosted Offers so their customers can learn about it. This brings us to the ways clients can use Boosted Offers to increase participation and/or engagement in their respective shopping rewards programs.
Use Boosted Offers To Acquire Users for a Cashback Rewards Program
Clients can use Boosted Offers to create limited-time promotions that encourage their customers to start using the cashback program. One way is to create an incentive for users to install their cashback rewards browser extension to shop and get the extra cashback before it's gone.
Example: Incentivize Installs via Targeted Email
Send email with CTA to download the extension to get the limited time boosted offers at relevant brands.
Example: Incentivize Installs at Customer Touchpoints
Boost Fashion Brands for a week and create placements in the website or app to surface these limited time extra savings to the users that frequently buy in the fashion category. Showcase "Deals For You" paired with a CTA to never miss deals like these again by installing the extensions, gets users to sign up for cashback rewards and experience the value.
Use Boosted Offers to Increase Engagement
Clients can also use Boosted Offers to drive more engagement (more clicks/purchases) on their cashback rewards programs' browser extensions and other tools. Do this by marketing boosted offers in relevant categories, to the customers who already have the cashback browser extension installed.
Example: Seasonal Spending
Build campaigns highlighting timely boosted offers. Spring? Boost merchants in home & garden, organization, tax & finance.
Example: Using Customer Spending Data
Boost merchants that are popular to specific segments. To engage users in a segment where electronics are popular, (based on past spending habits) boost electronics merchants, then send email campaigns and create in-app placements marketing those super-relevant limited time boosted offers to that segment.
The Critical Piece: Promoting Boosted Cashback Offers
Showcasing boosted offers that are exclusively available in a rewards program across multiple marketing channels is key to increasing adoption of and participation in the program.
In other words, don't just boost the offers, PROMOTE boosted offers on all available channels!
Clients can further maximize Boosted Offers campaign by customizing the Eligible Merchant Alert (EMA) on their cashback browser extensions. Wildfire works with each client running a promotional Boosted Offers cashback campaign to create a custom design that displays the Boosted Offer along with the original rate crossed out so users can see just how much more they can earn.
Boosted Offers are just one more tool in the Wildfire cashback platform arsenal to help our clients maximize the results from their cashback rewards program for both customer acquisition and engagement. Stay tuned for more enhancements to our cashback shopping rewards platform!
