We are thrilled to share that our innovative event engagement voucher solution was instrumental in fueling an incredible boost in commerce and community at the eagerly anticipated Pet Show 2023. Over 300,000 passionate pet lovers gathered at the 4-day exhibition, spending an average of HKD 1,300 and demonstrating the potential of vouchers to stimulate the local economy. Our solution empowered over 200 exhibitors and 500 stalls to engage more deeply with attendees and significantly boost their exposure and sales.
To uncover key insights into the impact of our vouchers, we analyzed the results of the ‘2023 Pet Show Consumption Survey’ by CS Marketing. The findings reveal the power of digital vouchers and freebies to captivate consumers and motivate them to spend. Here's what we find out from our analysis:
Redeemed vouchers help boost spending by 4 times
Transaction records showed that visitors spent 4 times the value of redeemed vouchers at exhibitor stalls. For instance, a $1,000 voucher translated to $4,000 in total spend. This resulted in an incredible ROI for exhibitors and a massive revenue boost. Talk about the power of vouchers!
Digital Vouchers Raise Customer Awareness by 3.7 times
Our digital vouchers were crucial to engaging visitors and amplifying brand visibility. Each voucher was viewed an average of 3.7 times before being redeemed, leading to a huge upswing in impressions and brand exposure. Our vouchers provide exhibitors a simple way to forge meaningful connections, build goodwill, drive foot traffic and boost sales. Win-win!
Free Gifts Drive Traffic with 70% redemption rate
Who doesn't love a free gift? Free gift vouchers were wildly successful in attracting visitors to stalls, with an impressive redemption rate of 70%. Exhibitors who gave away free gifts with purchase experienced a surge in traffic, not to mention the additional purchases they bring.
Higher Voucher Amounts Result in Higher Spending, while small-value voucher still drive 20% redemption
The higher the redeemed amount, the more likely consumers are to spend significantly more. Exhibitors who went big with their voucher amounts enjoyed an increase in customer spending, resulting in increased revenue. But what about small-value vouchers? It may surprise you to learn that even vouchers as low as $10 or $20 can still drive redemption rates up to 20%. That's a significant number considering the limited budget required to offer small-value vouchers.
So, what's the key takeaway? Merchants looking to maximize their return on investment should consider offering vouchers of varying amounts. Voucher amounts have a direct correlation to customer spending, with higher-value vouchers resulting in higher spending. Merchants should still consider offering small-value vouchers as a cost-effective way to engage customers and drive traffic to their stalls. Customers love a good deal, and even a small voucher can be enough to pique their interest and bring them to your business. In a nutshell, by offering digital vouchers and free gift redemption, exhibitors at the Pet Show 2023 successfully boosted customer engagement, sales and revenue. Our event engagement voucher solution proved an effective way for exhibitors to connect with visitors, drive traffic, and amplify visitors’ spending power. Consumption vouchers and strategic promotions can be a powerful tool for brands and event organizers to incentivize commerce and enhance the customer experience.
If you'd like to find out more, feel free to book a demo with us.