Last June, HelloWorld, a leading digital marketing solutions provider for some of the world’s largest marketers, unveiled a new product called Streak Couponing™, which was billed as an industry first.
HelloWorld built Streak Couponing to arm marketers with new ways to reward consumers. At its sweet spot between promotional and loyalty program activation, this new product enables brands to build consumer engagement by triggering offers of increasing value as a consumer redeems a previously-sent offer within a specified timeframe.
The offers, ranging from “Buy One, Get One” (BOGO) offers, discounts, or VIP experiences, are sent on a dynamic schedule through the consumer’s preferred channel -- email, SMS, or mobile app. Marketers can generate excitement for their brand during key time periods. Streak Couponing drives acquisition of new customers through promotional enrollment, rewards their most loyal consumers, incentivizes additional purchases, and measures short-term ROI, a challenge for many marketing initiatives.
Valvoline, a 150-year-old brand, is getting a refresh this year, with its new Valvoline Drives campaign, in partnership with HelloWorld. Valvoline is getting deeper into the digital and mobile messaging space, aiming to give its brand a refresh and hoping to increase premium sales, traffic, and loyalty/retention with a web-based promotion that leverages Streak Couponing.
Russell Zack, senior vice president of products and solutions at HelloWorld, explained the concept of Streak Couponing to Loyalty360.
“Streak Couponing has a unique place between promotional campaigns and long-term loyalty programs,” Zack explained. “A Streak is a set of rewards that increases in value as a consumer redeems previous offers, ranging from discounts, buy-one-get-one deals, and VIP experiences. These offers can be delivered via email, SMS, or push messaging, and are an effective way to drive immediate excitement and continue purchase momentum.”
Zack said Streak Couponing is unique because it’s not a one-size-fits-all approach.
“Better offers mean different things to different brands, so we work closely with our brand clients to define what that better offer is and what engagement tactics and channels should be used to message it consistently and effectively back to the consumer,” Zack said. “We’re very excited to work with Valvoline on this campaign to help them drive long-term loyalty to both their products and their automotive service center customers.”
The Streak Couponing product was built for retailers and restaurants, as well as the hospitality industry−brands that, typically, send offers in a steady cadence, but may struggle with longer-term engagement. A retailer can begin a Streak with a 10 percent discount offer, for example. When that offer is redeemed within a pre-determined timeframe, the consumer may receive a BOGO incentive shortly thereafter. If that offer is redeemed, the consumer will receive a 25 percent off discount, and so on. The specific offers and timing constraints are fully customizable and tailored to each brand's business objectives. This successive offer schedule fosters return-shopping behavior and greater brand affinity.