Results show On-us’s digital voucher solution raised customer awareness by 3.7 times, boosting total spend by 4 times.
HONG KONG, TAIPEI and SINGAPORE, May 5, 2023 /PRNewswire/ — On-us Company Limited (“On-us” or the “Company”), a leading B2B digital voucher solution provider based in Hong Kong, has successfully implemented its event engagement voucher solution at the Pet show 2023 held from 2 Feb 2023 to 5 Feb 2023 by Exhibition Group Limited, driving spending and engagement among 200 exhibitors and over 500 stalls.
The show attracted an unprecedented number of over 300,000 participants and an average spending of HKD 1,300. On-us announced the key voucher data findings and analysis of the ‘2023 Pet Show Consumption Survey’. Analysis shows that On-us’s digital voucher solution raised customer awareness by 3.7 times, boosting consumption spending by 4 times.
In light of the recent disbursement of the first instalment of the Hong Kong consumption voucher scheme, On-us has analyzed key voucher behavioral data and data from ‘2023 Pet Show Consumption Survey’ to study the effectiveness of consumption voucher schemes in driving consumer spending and boosting the local economy. The survey conducted by CS Marketing interviewed more than 4,700 Pet Show visitors onsite in Feb 2023. Below are some key data insights that On-us drew from the survey and voucher behavioral data.
Redeemed vouchers help boost spending by 4 times
Transaction records shows that the total amount spent by visitors at exhibiting booths is 4 times than that of the redeemed amount, demonstrating the high ROI of vouchers. In other words, if a consumer redeemed an $1,000 voucher, the total spending would amount to $4,000. Participating merchants experienced a significant return on investment and a boost to their bottom line.
Digital Vouchers Raise Customer Awareness by 3.7 times
The use of digital vouchers was instrumental in engaging visitors at the Pet Show, raising customers’ awareness of participating merchants. On average, each voucher was viewed 3.7 times before being redeemed, resulting in a significant increase in participating merchants’ brand exposure. This increased airtime and views have contributed to enhancing brand awareness, thus providing valuable opportunities for participating merchants to connect with their target audience. Our digital vouchers offer a quick, easy-to-use solution for participating merchants to engage with customers and build relationships, while driving traffic to their stores.
Free Gifts Drive Traffic with 70% redemption rate
It is shown that free gift vouchers are particularly essential in driving traffic to exhibitor stalls, given their high redemption rate of 70%. Participating merchants which offered free gifts with purchase experienced a significant increase in traffic, resulting in increased sales and revenue.
Higher Voucher Amounts Result in Higher Spending, while small-value voucher still drive 20% redemption
The use of small-value vouchers ($10 and $20) is still effective in driving approximately 20% of redemption. Hence, merchants should still consider offering small-value vouchers despite limited budget, since it is a cost-effective way to engage customers and drive traffic to their stalls.
It is also found that the higher the redeemed amount, the more likely consumers are to spend significantly more. Participating merchants which offered higher-value vouchers reported an increase in customer spending, resulting in increased revenue.
By offering digital vouchers and free product redemption vouchers, exhibiting merchants successfully increased customer engagement and drove sales, resulting in increased revenue and a more engaged participation. On-us’s event engagement voucher solution is an effective way for exhibitors to engage with visitors, drive traffic to their stores, and boost consumer’s spending power.
About On-us Company Limited
On-us Company Limited (On-us) is a consumer-minded B2B digital voucher solution provider. Equipped with application programming interfaces (APIs) for omni-channel distribution, On-us is an incentives ecosystem focused on delivering value and deepening customer relationships through customized messages and analysis of consumer behavioral data. Clients include marketers of global financial services providers, people management teams, blue chip property developers, non-profit organizations, and SMEs.
For more information, please visit www.on-us.com.
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SOURCE On-us Company Limited