Opportunities to Improve Promotion Redemption Rates Exist Across Channels
New York City - Wednesday, September 26, 2018 - RevTrax has introduced its Holiday Promotions Benchmarking Report today in a new press release. The report includes anonymized data from 2,288 promotional campaigns from 180 brands that were delivered in October, November and December of 2016 and 2017. Search performed the best of all channels at the start of the holiday season, while Social posted a 40% redemption rate in December, far outpacing other channels in the last minute run-up to Christmas.
Other insights from the report:
- Social promotions perform 12% better during the holiday season than during the year. Email also does much better, seeing a 10% jump in promotion redemption during this peak spending season.
- Social promotions are still an emerging opportunity for marketers, who thus far have underutilized the channel. While social promotions perform well in December, they underperform in November. In a month where we see frenzied shopping days like Black Friday and Cyber Monday, social promotions fall 6% below the benchmark.
- There is room to maximize promotion performance in October - There are clear indications that holiday promotions can be successful in the early part of the holiday shopping season. The Affiliate channel especially has room to grow, as it performs 4% below its holiday average in October.
“The holiday shopping season annually represents brands’ biggest revenue opportunity,” explains Jonathan Treiber, CEO of RevTrax. “Brands must maximize the full potential of the season with appropriate, relevant, and targeted promotions across all channels. While brands are implementing their promotional campaigns right now, it is important to note that there are avenues and opportunities that should be further explored because of their ability to draw consumer interest .”
The full report can be downloaded here.
RevTrax makes smarter promotions easy. Our platform connects across all digital and promotional vehicles, providing personalized offers and online-to-offline tracking for 350+ brand partners. RevTrax provides intelligent solutions for marketers across all devices, across paid and owned media, delivering secure personalized offers, connecting behaviors to any purchase, online or offline. Founded in 2008, RevTrax is rated as one of Crain’s ‘Top 100 Best places to work in New York City.