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Post Date: August 5, 2020

Data Analytics with Texn Rewards

Data Analytics with Texn Rewards

BY PARKER MITCHELL

Texn Rewards has been collaborating with Self-Service Salvage Yards to better understand which data points are important to them.  We have concluded that the following data points are most important: Total Attendance, New Customers, Returning Customers, New English Customers, New Spanish Customers, New Customers Opting Out, Total Customers Opting Out, New Vehicle Picks, New Vehicle Matches, and a complete breakdown of coupon redemptions by Coupon Type.

We are working to automate these fields so that this report can be generated and sent via email on a daily and monthly basis.  In the meantime, we can manually generate the monthly version of this report for any yards who would like these data analytics.  We can retrospectively go back to the first month on our VIP program and get this data.  Please contact info@texnrewards.com to request the monthly version of this report for your yard.

Table #1 Daily Example

Table #1 Monthly Example

Table #1 Metrics:

The fields in this report are defined as follows:

Day/Month:        Time period pertaining to the data.  It will either represent one day or one month of data.

Total Attendance:       New customers who join the Texn Rewards loyalty program, returning customers who check into the Texn Rewards loyalty program, and customers who opt out of the program/sign the waiver. 

New Customers:                    Any phone number that checks in on the kiosk for the first time.  We can include first time phone numbers who opt out so you know how many customers are new and opt out of being in the Texn Rewards loyalty program. 

Returning Customers:  Any returning phone number that checks in.  We can include phone numbers who opt out, but have checked in on the kiosk before.

New Customers (%):  New Customers / Total Attendance

This will tell you what percentage of the total attendance are new customers.

Returning Customers (%):   Returning Customers / Total Attendance 

This will tell you what percentage of the total attendance are returning customers.

New English Customers (%):        New English Customers / New Customers

This will tell you what percentage of your new customers are English speaking. 

         

New Spanish Customers (%):       New Spanish Customers / New Customers

This will tell you what percentage of your new customers are Spanish speaking.       

  

New Vehicle Picks:      How many new vehicles were added to the Fresh Stock Notification system which notifies customers via SMS text when new stock arrives. 

 

New Vehicle Matches:         How many new vehicle matches were found.  On the daily report, this will be zero unless there was inventory added to the yard for that day and a match was found.

 

Averages:  The average of each particular Metric for the entire scope of the report.

 

Total:         The totals of each particular Metric for the entire scope of the report.

Table #2 Daily Example

Table #2 Monthly Example

Table #2 Metrics:

The fields in this report are defined as follows:

 

Day/Month:        Time period pertaining to the data.  It will either represent one day or one month of coupon data.

 

Total Coupons Issued:         How many coupons were issued

 

Coupons Redeemed:            How many coupons were redeemed

 

Redemptions (%):  Coupons Redeemed / Total Coupons Issued 

This will be reflective of the day or month pertaining to the specific row of data.  Coupons are not always redeemed in the same day or month they were issued.

 

Free Entry:          How many Free Entry coupons were redeemed.

Free Entry is a good offer for customers to join the Texn Rewards loyalty program and agree to receive ongoing messages to notify customers of sales.  We can expect the English redemptions on this coupon to be higher than most or all of the other coupons.

 

Entrada Libre:    How many Entrada Libre coupons were redeemed.

Entrada Libre is a good offer for Spanish customers to join the Texn Rewards loyalty program and agree to receive ongoing messages to notify customers of sales.  We can expect the Spanish redemptions on this coupon to be higher than most of all of your other Spanish coupons.

 

20% Reward:      How many 20% Reward coupons were redeemed.

20% Reward is a good offer to show appreciation for loyalty after 5 or so check-ins.  Depending on the margins for your yard, this can be adjusted or you do not have to offer loyalty rewards.  We can expect the English reward redemptions to be lower than the initial offer since it involves customers checking in multiple times before receiving the coupon.   

 

20% Recompensa:       How many 20% Recompensa coupons were redeemed.

20% Recompensa is a good offer to show appreciation to your Spanish speaking customers for loyalty after 5 or so check-ins.  Depending on the margins for your yard, this can be adjusted or you do not have to offer loyalty rewards.  We can expect the Spanish reward redemptions to be lower than the initial offer since it involves customers checking in multiple times before receiving the coupon.   

 

15% Inactive:     How many 15% Inactive coupons were redeemed.

15% Inactive is a good offer which we can automatically send customers who have not returned for a specified period of time such as 30 days.  Depending on the margins for your yard, this can be adjusted or you do not have to offer inactive offers.  It is a good idea to make your percentages different for each Coupon Type so they are easily identifiable on the report.  We can expect the English inactive redemptions to be less than the initial offer and higher/lower than the Reward depending on the percentage offered. 

 

15% Inactivo:     How many 15% Inactivo coupons were redeemed.

15% Inactivo is a good offer which we can automatically send customers who have not returned for a specified period of time such as 30 days.  Depending on the margins for your yard, this can be adjusted or you do not have to offer inactive offers.  It is a good idea to make your percentages different for each Coupon Type so they are easily identifiable on the report.  We can expect the Spanish inactive redemptions to be less than the Spanish initial offer and higher/lower than the Spanish Reward depending on the percentage offered. 

 

Just In – Free Entry:    How many Just In – Free Entry coupons were redeemed.

Just In – Free Entry is a good offer which can be attached to your Just In texts when we notify customers of new inventory which matches a vehicle they were looking for.  We can offer a free entry coupon to allow the customer to check if the part(s) they are looking for are still on the vehicle.  We provide a disclaimer in this coupon which lets them know that we cannot guarantee the part will still be there since parts are not inventoried at Self-Service yards.  We can expect the redemption rate on these coupons to be less than the initial offer, and most likely more than the inactive offer since it is more specialized for that customer. 

 

Averages:  The average of each particular Metric for the entire scope of the report.

 

Total:         The totals of each particular Metric for the entire scope of the report.

Parker Mitchell

Parker Mitchell

Parker is an Account Manager for Texn Rewards and assists in other areas of the business. He is focused on building the most effective mobile marketing campaigns for self-service salvage yards.

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