WisePass has enriched its brand selection by partnering with Pernod Ricard ( again )
On April 28th 2022, Founder’s Night Drinking Edition 4 happened at the ATM Cocktail Bar in Ho Chi Minh City. As usual, this edition was a private event and invite only.
There was a small different though as the event wasn’t sponsored by The Singleton but another brand, The Glenlivet Founder’s Reserve. As a matter of fact, this brand belongs to the Pernod Ricard portfolio and that’s simply a sign that the group has decided to partner again with WisePass.
The Pernod Ricard group has partnered with WisePass already in the past during the year 2018. During that time, WisePass signed an exclusive agreement to work with Pernod Ricard and promote the different brands of the spirit portfolio. This time, it’s a little bit different as WisePass doesn’t sign any exclusive agreements anymore but focuses more on building a good CDP ( customer data platform ) for these brands and make sense of the data they may already have.
WisePass for brands
WisePass was focused mostly in the first half of 2022 to expand its network but the necessity to focus on brands became stronger as subscribers ask for a wider selection. That’s what led the decision to expand the company to re-introduce all the Pernod Ricard brands in every market WisePass will expand to in the close future.
During the last event of WisePass, many attendees were curious about how WisePass work with brands. We address these questions today in this article so more people can better understand the way our platform is being operated.
How does WisePass work with the brands?
Marketing
When WisePass works with brands, the company collaborates mostly on activations ( offline and digital ) in order to acquire new subscribers and engage them. The objective is to lead the target audience to attend, understand and subscribe to a plan.
Brands will come and sponsor the event by sponsoring their products, promotion girls, photographer and some POSM in order to promote their SKUs. The goal is usually set to have a couple activations monthly and ensure the recruitment of new consumers are done in order to re-engage them and lead to future redemptions.
That’s how a brand can collaborate with WisePass.
Sales
As the subscriber base grows, WisePass purchases products from the brand and list them in several venues where subscribers can come and redeem them. When a subscriber redeems an item from the brand, this is when the sale happens. As the subscriber base grows up, the sales keep growing up across the WisePass network.
Where do redemptions happen?
Redemptions happen in on-trade outlets. In other words, physical locations where people can come to spend and consume. Traditionally we would coin the term HORECA ( Hotel, Restaurant, Cafe ) . You would typically see WisePass venues in these locations and subscribers would come and redeem an item from the brand.
How it’s a better solution for brands?
Reason #1 - Brand now can invest and track their ROI in a data driven way
It’s usually hard for marketing in such type of brands to measure their marketing investment and track the sales accurately. The possibility to invest and grow the sales in a system-driven way is usually unheard of, except in e-commerce.
In other words, WisePass enables brands to measure the ROI of the brand investment.
Reason #2 - Brands now can re-engage the subscribers in a simple and cost effective way
As the subscriber base grows, brands are able to keep running their branding activities and make them more and more impactful over time by re-engaging existing subscribers and acquiring new subscribers.
In other words, brands can build and reach their consumer base for free, as the consumer base grows, the effectiveness in running a branding activity becomes more powerful.
Reason #3 - Brands now can benefit from a higher precision in targeting
As the subscriber base grows, brands may want to be targeting specific consumers that would be relevant to them. For example, a wine brand may look to organize a dinner where the type of wine offered will be premium.
By segmenting the database and offering that event through only the subscriber that have redeemed wine items, the brand can achieve the desired outcome by reaching a relevant target audience.
In other words, WisePass offers a high precision marketing tool for brands to reach the right consumer.
