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What is the average transaction value (ATV)?
ATV is the average amount that an individual customer spends at your retail outlet. Raising the ATV plays a major role in increasing your bottom line and is an important part to measuring the success of your outlet.
Your ATV can be calculated by dividing the total value of transactions by the number of sales during a set period of time.
To promote the new campaign at University of York Students’ Union, a visible announcement was created within the Yoyo app and weekly push notifications were sent to students.
Maximising awareness, York also ensured that on-site staff were aware of the campaign and fully briefed to prompt users to spend more than the £5 threshold.
Just six weeks after the campaign launched:
Max Camara, venue manager at University of York Students’ Union, said:
“In a climate of £2.50 pints, £2 coffees and £3.29 meal deals, we’ve always struggled with average spend. We love our customers to change up their habits through purchasing new items, trying premium drinks or buying socially in rounds.
“We’ve decided to reward our customers who do this by running the ‘Spend over £5 and get Double Points’ campaign. We’ve seen our average spend go beyond £5 and our customers earning more points than ever.”
Laurie Smith, commercial operations director at University of York Students’ Union, added:
“We are certain this is as a direct result of introducing the rules-based rewards campaign “Spend Over £5 and get Double Points”.
You can also easily create campaigns like this through Yoyo’s Campaign Launcher on Yoyo Engage.
Whether it’s encouraging customers to buy certain products, visit your store during the quieter times of day, or spend more per transaction, Yoyo’s Campaign Launcher enables you to create targeted marketing campaigns and deliver them directly to your customer’s hand.