When it comes to growth, Pet Supplies Plus (PSP) is not slowing down. The independent pet retail franchise has seen a 23.5% growth rate over the past three years and has been No. 1 in the pet store category on Entrepreneur Magazine’s Franchise 500 List for seven years in a row.
Of course, store grand openings are critical events within this growth. Each opening allows PSP the opportunity to drive customer acquisition and brand loyalty.
PSP’s overarching goal for each grand opening? To acquire email marketing sign-ups and then turn those email subscribers into loyal customers.
The pet retail store began looking for a cost-effective, turnkey way to achieve their goal in 2016. They found urgency marketing to be the answer.
Having already utilized urgency marketing in different sectors of the brand, PSP knew it leveraged marketing psychology to motivate consumers in a fun and cost-effective way. They decided to try it to elevate their email marketing campaigns tied to grand openings.
To test it out, PSP launched a digital activation that teased out a limited set of gift cards and offers, which would be releasing at an unknown time in the future. To enter for a chance to earn the consumer rewards, participants simply needed to subscribe to PSP’s email. (They could also earn extra chances at winning by referring friends to the activation.) When the rewards were dropped, fastest to claim would get the best ones.
The results were definitely worth celebrating. So much so, that the PSP team decided to make urgency marketing an ongoing part of their strategy. Today, every new store utilizes urgency marketing for its grand openings.
Each time a new store uses it, they typically see:
- An average cost per acquisition (CPA) that is 30% lower than the brand’s target CPA
- A 77% conversion rate from acquired email address to paying customer
And that’s not all PSP has seen since using urgency marketing — they’ve also leveraged it to reactivate lapsed customers, acquire new email subscribers and generate immediate revenue.
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Topics: Urgency Marketing
