How to capture new customers with Personalized Rewards

As acquisition costs continue to rise, marketers are on the hunt for ways to strategically attract new customers without burning their budget. To do so, it is important to understand that consumers are presented with countless options when making a purchasing decision. Brands need to stand out from the competition in the crowded digital space by meeting the needs of their target audience and providing value to the overall buying journey.

Personalized Rewards by Rakuten allows a brand to do just that.

Personalized Rewards overview

Personalized Rewards are tailor-made campaigns, designed to target brands’ ideal audiences with a unique Cash Back rate to maximize campaign performance and ROI.  With insights from over 3,500 retailers, Rakuten captures rich shopper data such as brand preferences, interests, demographics, and conversion rates. Using these insights, Personalized Rewards creates member experiences that drive conversion to deliver against strategic goals and boost program results.  We work with brands on their business goals to determine the right audience targeting and campaigns for them. There are several types of Personalized Rewards campaigns including re-engagement, category affinity, and demographics targeting. Today, we’ll focus on acquisition campaigns.

Acquisition campaigns

For brands and retailers looking to attract new customers, acquisition campaigns are the way to go. Fueled by first-party data, Rakuten  targets new-to-file shoppers with personalized, elevated Cash Back offers to drive incremental buyers and sales for the brand. To ensure existing customers are not served the elevated Cash Back rate, brands have the option to layer in their own CRM data. The elevated rate incentivizes members to purchase, while allowing brands to provide the value shoppers expect, without the need to discount.

Personalized Rewards: Acquisition campaigns in action

Take this high-end fashion brand for example, who wanted to reach new customers. To support their goals, Rakuten launched a targeted acquisition campaign offering a personalized, elevated 20% Cash Back rate, 3x the brand’s typical base rate. The brand layered in their CRM data to ensure their existing customers did not receive the elevated offer.

Overall, the acquisition campaign was successful. The brand saw a 2X ROAS and strong lifts across other key metrics such as an 133% increase in converted buyers and a 200% increase in sales per audience.

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