Are Customers Leaking Out of your Sales Bucket?

The “Leaky Bucket” analysis provides Foodservice Manufacturers with an effective measure of their retention and acquisition efforts.

Foodservice Rewards has a new measure, called the Leaky Bucket analysis that simply measures the impact of new and existing operators on a manufacturer’s growth or decline (operators and case volume).

Using the analogy of a bucket, Foodservice Rewards measures what comes into the manufacturer’s bucket (new operators), what stays in the bucket (existing, loyal operators), and what leaks out of the bucket (lost operators).  The analysis includes operators that are engaged in Foodservice Rewards and compares two 12-month periods.  The analysis can be done by portfolio, category, or brand.

So what?  Manufacturers that understand their operator/case “leak” rate combined with their acquisition rate now have an annual benchmark from which they can more effectively measure their overall growth each year.  It also re-enforces the need to protect a sponsor’s “most valuable operators” – the customers that drive most of the volume.

Average leak rate is 20% across the coalition of participating branded sponsors. Imagine how large it must be within the broader foodservice world…Guessing 30% or more!

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90-day Rule determines – REAL NEW Business

90-day rule eliminates any “new members” from “new buyer” count…

Foodservice Rewards has over 120,000 active operators members in North America.   These operators LOVE earning points from the program and collect the bright yellow “reward stickers” from all the participating brands they purchase.

For new sponsors, we use a minimum of six months to ramp-up to a baseline of redemptions before considering promotions to drive “new business” since it takes some time for labeled product to work its way through the supply chain.

For new operator members, we use the “90-day rule”.   We know that 95% of new Foodservice Rewards enrollees enter their reward codes within the first month.  So, if a new member was already purchasing a sponsor’s product, then we know with a high degree of certainty that the reward code will be entered within the first 90-days.   When running “new buyer” promotions, the Foodservice Rewards team usually removes new enrollees that redeem within the first 90-days of their membership.   Relatively new members that redeem reward codes beyond the initial 90-day period are considered new buyers to sponsors they redeem from.

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New Foodservice Rewards Label

The addition of the QR code re-enforces that Foodservice Rewards members can enter reward codes using their smart phones.

The bright yellow Foodservice Rewards labels that sponsors apply to their branded cases have a new look!  The major change is the addition of the QR code.  The QR code re-enforces that Foodservice Rewards members can enter reward codes using their smart phones.   The new label also provides a call to action “Enroll for free” and a second non-logo  www.foodservicerewards.com.  Operator feedback was solicited in advance of the re-design.

 

 

Most Valuable Operators – Engaging Brokers to Drive Sales

MVO transactional data is now being transferred directly into broker’s CRM systems…

Foodservice Rewards helps manufacturer partners understand their down the street business.  Most Valuable Operators are the largest customers – the operators a sales team or broker should be visiting.   For the first time, Foodservice Rewards sponsors are now sharing MVO customers and their transactions directly into the sales agent’s own customer relationship management systems.   For the initial test, Foodservice Rewards partnered with Foodservice Enablers at the request of Basic American Foods to deposit the data into the Elite Associates Sales Portal.  King & Prince Seafood quickly saw the value and added their data to the program.  After working with the data for a few months, Phil Ledesma , Corporate Client Manager for Elite Associates, reported during the annual sponsor meeting that the data is helping them be more efficient by:

  1. Identifying declining operators to catch brand switching
  2. Identifying operators to cross-sell to
  3. Providing another tool to close the sale

With permission from sponsors, data will continue to be shared with sales agents through the Foodservice Enablers broker sales portal.  Foodservice Rewards is also working with Easy Operator/AFS Technologies and others to develop similar software providing MVO transactional data to sales agents across the foodservice industry.

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International Spices Joins Foodservice Rewards

International Spices, a company that sells directly to foodservice operators, has become a Foodservice Rewards sponsor…

All of our current inventory is labeled, the website is reflecting eligible items and appropriate points, and we are ready to get this going!

Thanks
-Eric

Eric Hochstein
——————–

Vice President, Owner
International Spices

Your promotion on www.foodservicerewards.com

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Benefits of a Coalition Marketing Approach

“The coalition model gives customers a clear value proposition-a far broader range of reward options while significantly increasing the rate at which they earn those rewards.” Bruce Kerr, Colloquy Contributing Editor

If you’re interested in a thoughtful take about the benefits of coalition marketing check out this article entitled “Everything Old is New Again”  by Bruce Kerr, Colloquy Contributing Editor. In this post, Bruce points out several advantages to a coalition approach versus other programs.

• more compelling customer value proposition
• better customer data to leverage ROI
• proven to deliver cost effective results

If you’re truly interested in differentiating yourself from competition and more deeply engaging customers, then maybe the time is right to consider a coalition approach to your marketing strategy.

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4 NEW Sponsors Join Foodservice Rewards

We know our Foodservice Rewards members will be excited when they start redeeming labels this Fall…

We are pleased to announce the addition of four new sponsors to the Foodservice Rewards coalition.  They are:

Clemens Food Group is an industry leader in pork solutions.  Clemens will be participating with the Hatfield brand of bacon, Prima Porta Sausage, and Premium Reserve Chops and loins. Everything is better with bacon including Foodservice Rewards!

Mars is one of the world’s leading chocolate companies.  They will be participating with TR Toppers – a company that chops and sells Mars iconic candy brands including M&M’s, Twix and Snickers to operators who add this chopped ingredient for stand-out desserts.

McCain is a leader in appetizers and sides.  They will initially be participating with several varieties of their delicious beer battered onion rings!

Neil Jones Food Company is family owned and has been producing tomato and fruit products for almost 100 years.  They will be participating with their Old California brand of tomato products which are packed fresh in the summer and sold in large pouches to prevent safety issues and waste versus traditional cans. 

We are excited about their participation and we know our Foodservice Rewards members will be too when they start redeeming labels this Fall.

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Monthly Sales Dashboards

This report is a goldmine!

Sponsor sales teams are  now receiving a monthly one page dashboard that details their top new buyers, top lapsed buyers, and remaining sales opportunities by segment within Foodservice Rewards.  This report was designed to provide topline and timely data usable by sales, without overwhelming them with too much information.

Here’s what Drew Dozier of Advance Pierre says about the new sales dashboard…”This monthly report is a goldmine and will be followed up on!  The operator data is as close to being transactional as we can get and therefore, we must stay on top of lost redeemers to understand the situations”.

Mike Villano, VP Sales and Marketing, with Basic American Foods concurs. “Thanks for sharing this information.  It helps focus the team on the larger opportunities and points out some potential big gaps in volume.”

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Behind Every Good Man…

Maybe this great woman will win a trip to Napa!

The instant win promotion seems to be on our operator’s minds!  Here’s what Larkin said…

I always try to order products from sponsors that are in Foodservice Rewards so I can get more stickers, especially now that I can win a trip to Napa Valley! I try to save up my points and redeem them once a year to get something nice for my wife.

 Larkin Tribou

Larkin’s Famous Subs

Orlando, FL

 

Mobile App Communications and Operator Feedback

The word is out! FSR Mobile App is a success…

Both the iphone and Android versions of the Foodservice Rewards mobile scanning application launched in the first quarter.  The Foodservice Rewards team is spreading the word at shows, the enewsletters, our social site, and through our magazine partners…see below:

Operators are loving the new app…here’s a few posts from our Foodservice Community on facebook

 
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