Time to start the betting pool: When will the 100 millionth reward code be entered?
Here is a Foodservice Rewards® Sponsor Update for your review.
This update includes information about:
* A milestone celebration,
* The next Sponsor Meeting date,
* A cool new metric for you, and
* An update on our marketing efforts.
As always, please contact Aaron, Ashleigh, Marty, Tyler or me with questions, comments, and ideas. Thanks!
I had an opportunity at the MW Regional NACUFS Conference to speak with many operators who all had great things to say about FSR…
I attended the Regional NACUFS conference and showcase this week. Nine of our sponsor were there including: Schwan’s, Bunge, Rich’s, Kraft, Nestle, King & Price, Unilever, Advance Pierre and Perdue, all proudly their displaying Foodservice Rewards signage.
I had an opportunity to speak with many operators who all had great things to say about FSR. It was fun to hear about how they are using their points and how much they appreciate the program. Each operator I spoke with was very engaged in the program.
We partnered with Perdue Farms and I helped staff their showcase exhibit and distributed Peel and Reveal bonus points cards.
I also distributed Save the Date cards for the Free & Easy Party at the National Show and operators seemed very interested in attending.
Finally, I will be attending the Continental Conference next week and will be working with Perdue again.
Please let me know if you have any questions.
A new program measure shows that on average, 50% of the cost to sponsor Foodservice Rewards is funded by new customer acquisition…
Most of you are aware of an exciting new measure we’ve been working on for a few months – Acquisition Contribution. It really is exciting, as you’ll see. This measure looks at the financial impact newly acquired operators have on Sponsors.
We compare a Sponsor’s total program spend to the revenue (margin) generated by their new customers. We found (Coalition Average) that 50% of the cost to participate in FSR is funded by new customers. That’s right, half of the program cost is self-funded through the acquisition of new customers.
Here’s how it works:
This measure is based on spend and new customer redemptions for a 12 month period. We identify new customers redeeming during that period and record their case redemptions. Here’s the new part…”New” customers are defined as operators who have been enrolled in FSR for 90 or more days before redeeming from a Sponsor for the first time. It’s the 90-day gap between enrolling and entering product codes that’s the key. On average, new enrollees to FSR redeem product codes within the 1st 20 days after joining. If an operator was already buying a Sponsor’s product, the operator would likely have entered codes before 90 days. By using a 90-day window to define an operator as new, we’re taking a conservative and realistic measure of new business through FSR.
To get our AC Score, we compare a Sponsor’s total program spend for 12 months to the margin generated from new customer’s redemptions for 12 months.
Two things…
1) Please feel free to suggest a new name for this measure.
2) To provide a realistic measure, Sponsors must be in the program for more than 2 years.
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