Over the past 2 years, the face of retail has drastically changed. Looking forward, we believe retailers should focus on the following 5 actions to build more resilience in their customer experience and to emerge even stronger in the recovery.
Discover How Samsung Advanced Staff Engagement with A Reverse Auction
Touchpoint Group has been collaborating with Samsung since 2014, helping them deliver robust and future-proofed solutions so that their sales staff can promote and support Samsung devices, thus gaining loyal brand advocates. Our marketing automation tool, TouchpointMX, provides Samsung with a dedicated, fully customisable, self-service e-Learning platform. With the help of our in-house team, SamsungNZ tailored the platform to create training programs and interactive questionnaires that encouraged floor-sales staff to earn rewards through multiple channels of products. They also receive previews of upcoming product releases through Samsung’s bespoke product awareness program. For each program or product engagement, Samsung employees can earn rewards and benefits.
A new feature we offered Samsung was a reverse auction, allowing their sales staff to bid on products with their points for less than they would normally purchase them for.
What is a Touchpoint Group’s reverse auction?
A reverse auction is effectively an auction but instead of points or payments going up, they trend downwards i.e if an auction is set for 60 seconds and starting price is 100 points, every second the points drop by 6 points until it reaches a price point of 1. In those 60 seconds, if people have the available funds to purchase the item with their points while the price is decreasing then they can bid on the item and stop the auction, winning the prize. Whoever bids first while the auction is decreasing wins.
Earlier last year, Touchpoint Group updated the Samsung Plus portal to include this functionality. In anticipation and excitement with the launch of this new and rewarding platform, the majority of SamsungNZ staff viewed and engaged with the portal update on the day of the first auction. The team at Touchpoint Group built this to be future-proofed to have 8000 users logged in at the same time and build engagement and awareness to the platform while having a bit of fun.
How did it work with Samsung?
Samsung were very impressed by this new feature and loved it. After the Christmas break they used the Reverse Auction to build momentum into the start of the new year on a high for the staff.
What were the results?
On the launch day there were 3 reverse auctions. All three auctions successfully ran with some eager participants keen on grabbing a deal as quickly as they could. The last reverse auction was set for 1 minute and the starting bid was over 1500 points. The 1-minute timeframe built a lot of excitement and engagement and the winning bid went for 1/11th of the starting price. It is a quick moving and intense auction so “you have to be in it to win it” and it also shows anyone can win.
What are the benefits of a reverse auction?
Having a reverse auction builds brand hype and engagement with the end-users. A reverse auction's attractiveness lies in three factors: simplicity, visibility, and the possibility of real-time collaboration between buyers and suppliers. As a fun way to enhance brand engagement, Samsung looks forward to adding more features in the future.
If you are interested in incorporating a reverse auction into your business, contact Touchpoint Group today.
Are you interested in incorporating a reverse auction into your business? Contact Touchpoint Group today to get started.