ExperimentFirst
Unit of Wheelhouse Venture Partners
Helping retail businesses increase revenue through creative subscriptions
Lost revenue potential, for businesses
Loyalty programs suck, for customers
"With my friends popping babies, mother's-what-not-days, friends birthdays, colleagues to say thank you to, I end up buying flowers every month - It's expensive at £30 with individual purchases...I end up buying from different places every month as there is no incentive to buy from one place..."
"We know some of our customers come once a week and then some months they don't come at all - We'd love to offer a subscription option to them but it would take many many months to design, build, and release our own solution...."
"Why should I pay the same price for something that I've purchased like 20 times versus a new customer who is buying it the first time...there is no tangible and immediate reward for my loyalty"
Solution
Revenue growth Accelerator: We work with your business leaders to design and test real problems faced by your customers - and how a subscription service would solve them. The result is a compelling business-case with early results - within 60 days
Ready made App: Within minutes, launch your subscription model for early adopter customer groups
The app allows you to:
-Store your customers details
-Process the payments automatically
-Make their instore experience less of a financial transaction but better service
-Send automatic reminders to use the service if they don't
-Create incentives for your customers to bring their friends
-Customise your levels of subscriptions (e.g. £5, £10, £15, £20 per month)
-create dynamic loyalty pricing (e.g. a 5% reduction on each repeat purchase or buy one get free) and surge pricing models
-Allow your customers to suggest their own offers for you to accept (rather than the other way around)
-Allow customers to share the success of bringing in new customers
Why
10x better than exisiting solutions
Faster: It takes just 5 minutes to set up your own subscription service (for small or big retailers)
Cheaper: We take just 2.5% of the monthly transaction. This is equivalent of the credit card fees - so you're not really paying more...Plus it's cheaper than building your own app.
Greater revenue: This is genuine option to increase your revenue by 20% from specific segments of your customers
- Allow for greater certainty of customer revenue and product inventory
In our customers' own words
"In a three month trial we increased our revenue by 27%... "
Indepedent flower shop owner
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