Redemption Operations: ✅
For the last six months, and even beyond, we’ve talked about how to build operational processes for your redemption program. We covered topics like how to get rid of excess inventory, the science behind merchandising strategies, building a basic incentive program and training your redemption employees. But why have we spent so much time talking about operations?
It’s simple: You have to crawl before you can walk, and walk before you can run.
Without streamlined processes, no flashy marketing or innovative attraction will increase your bottom line. You first have to optimize basic operations — with quality at the forefront— before you can innovate, scale or improve your business model. We know this from the great Dr. Deming, father of the Plan, Do, Check, Act model.
Dr. Deming’s work taught us the importance of increasing quality through understanding your operational processes. His expertise was critical in helping rebuild Japan after WWII.
After being rejected by American business leaders he turned to the top Japanese CEOs, who welcomed him with open arms. Deming educated them on how to build quality control into each step of a workflow. It was through process improvements and emphasis on quality that enabled Japan to outperform American car manufacturers. Even today, Japanese car manufacturers still own over a third of the American market. Wow!
As you can see this applied in modern business all over. One of today’s experts — Shopify — also educates its users on the importance of optimizing processes. It defines process as one of the most crucial elements of business operations:
“Process is important because of its impact on productivity and efficiency…Business operations processes should be documented department-by-department so that operations managers can study them to find areas for improvement, consolidation, or cost-savings. Documentation also helps companies train new employees.”
It’s been our goal to help you bake quality into your operations and optimize your redemption. But, before we move on from this operational discussion, we have a parting gift! 👇
Operational DIY Toolkit
To consolidate our efforts of helping you run the most optimized redemption area in town, we’ve put together an Operational Toolkit for you to reference when problems arise.
You’re ready to take the reins on your redemption operations and we’re sending you on your way. But don’t worry, we’re always just a phone call away if you have questions.
- Redemption area daily checklist
- How to use a planogram
- COGS calculation template
So what now?
It’s time to look at the bigger picture to see how all areas of your business must work together to create a successful model. Simply put: it’s time to run!
In the coming months, we’ll be talking about your redemption program as part of your business’s ecosystem and how to use it to improve other areas of your business.
Upcoming topics of our Ecosystem Series include:
- The ROI of modernizing
- The “swipe” economy
- Taking your marketing to the next level
- Incentivising attractions
As we begin to shift the conversation to a larger picture, we hope you’ll follow along as we unleash the true power of your redemption program.
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Our proprietary Storyboards are a series of pre-designed merchandising layouts, backed by analytics. They’re created with a specific theme or category in mind to engage your guests and make finding the perfect prize a piece of cake.