Why Your FEC/BEC Needs Neon Apees
The Data Speaks: Neon Apees are a must-have prize for any Family Entertainment or Bowling Entertainment Center
In 2017 we’re building a database of Top Performing Prizes to help our customers win at redemption. And no, we’re not talking trends, predictions or what we think is “cool.”
We’re talking real data with real insights.
If we know one thing best at Redemption Plus, it’s that your redemption program plays a critical role in creating unforgettable guest experiences. It’s the first and last place your guest could visit, meaning it drives incentives during their entire visit to your business.
Your guest’s perception of your Prize Value Mix — the right variety of prizes at different ticket ranges — and your Quality of Prizes affects how many games they play, average payouts, redemption rates, and yes…your bottom line.
By including these Top Performing Prizes — which we’re announcing every month — in your prize (value) mix will not only take your guest’s experience to the next level, but your business.
Last month we talked about how every FEC & BEC needs Samurai Swords. This month, let’s talk our second Top Performing Prize: Neon Apees (318344).
Neon Apees are a killer prize in the Saver Redemption Range. We asked our customers who are selling these like crazy for tips & tricks to making Neon Apees a winning prize for their redemption program. Here’s what we’ll review:
- The Prize Performance Benchmark
- Top Tips & Tricks from our Customers
- Why else do Neon Apees sell so well?
- Who do Neon Apees sell best to?
- How do I merchandise Neon Apees in the best way possible?
- What Quantity should I start stocking/ordering if I’m not ordering Neon Apees now?
#1 | The Prize Performance Benchmark
Customers who offer Neon Apees to their guests order and sell — on average — 2.6 Apees per month (no, we don’t cut them in half).
At our standard ticket value of 2,250 tickets per Neon Apee, that’s approximately 5,850 tickets a month — or — 70,200 tickets a year. Given that we generally we see FEC & BECs payout 25 tickets to a dollar, we can then easily calculate the revenue potential of Neon Apees.
To calculate the potential revenue gain from this product, we use a simple calculation:
[Tickets Earned per month or year] ➗ [Tickets paid-out per dollar]. Using the numbers above, it would look like this:
Revenue per month: [5,850 Tickets] ➗ [25 Tickets per Dollar] = $234/month
Revenue per year: [70,200 Tickets] ➗ [25 Tickets per Dollar] = $2,808/year
NOTE #1: The numbers and calculations above are made utilizing Redemption Plus’ standard ticket, price and payout values. The exact numbers vary business to business in actuality.
If you’re not currently ordering Neon Apees and have a prize in a similar ticket range that isn’t performing as well, we recommend you make a swap. If you have questions about how or why you should do this, give one of our Value Architects a call or email our SMILE Support Team at firstname.lastname@example.org. They’re all about Neon Apees this month 👍
NOTE #2: If you’re currently ordering Neon Apees but your guests are redeeming less than 2–3/month, we’ll be releasing tips and tricks the next 4 weeks (as well as in this post) on how you can reach the benchmark and start seeing more $$$.
#2 | Top Tips & Tricks from our Customers
On occasion we see a few of our customers selling products like Neon Apees way above the Prize Performance Benchmark (2–3 Apees/month in this case). When we see this kind of performance, we know there’s something we’re missing — sometimes the customer just knows best! Here are some Top Tips & Tricks from customers who are killing it with Neon Apees:
- “Do your best to make them a focal point in your redemption room and/or game room. We have them displayed in two different locations and we always have all four colors merchandised. We have them displayed alongside our high-end items, but the Neon Apees are lower on the ticket scale. Thus, giving making them desirable, yet achievable.” — Dalen with Fat Cats in Gilbert, Arizona
- “We merchandise them up high and in the middle of our redemption area. We keep them close to other popular, fast-moving items like the neon mesh balls (318994). The redemption area always has all four colors on the wall and we keep some in backstock. This allows us to keep all colors available at all times.” Eddie with Wamesit Lanes in Tweksbury, Massachusetts
- “We think the Apees do so well because they’re the perfect size, color and softness! The Apees are one of three plush items in our redemption program, so this helps guests make their decision.” Christina with GameWorks in Seattle, Washington
- “Our redemption program is within a resort location. I think our Apees do so well because kids stay and play multiple days, thus allowing them to save up more tickets. We have the benefit of the game room being in the same place they’re stay for vacation, unlike most family entertainment centers where guests go home at the end of their arcade visit. It helps that parents are more likely to spend more money while the family is on vacation.” Jamie with Cabana Bay Resort in Orlando, Florida
#3 | Why else do Neon Apees sell so well?
We also look to Key Performance Indicators (KPIs) beyond the prize’s Performance Benchmark to understand why a prize does so well. Here are some of the KPIs for Neon Apees:
- Neon Apees, and other Saver prizes, sell especially well at Resort locations. Guests tend to stay longer and therefore are incentivized to save their tickets for better prizes.
- Prizes with higher quality materials create a higher perception of value. We love Neon Apees because of their premium materials, while still being at a lower price point than your average super-sized plush in the Saver redemption range.
- What we find with Neon Apees is that they attract similar kinds of attention as branded & licensed items, without the heavy price tag. This is a win for your margins, and a win for the customer. Some of our customers can barely keep these guys in stock!
- Focal points are critical when it comes to maximizing the perceived value of your redemption prizes. Large prizes with bright, attractive colors help guide your guests attention and elevate their desire to trade up to a higher redemption range and get the prizes that look the best, like Neon Apees!
- Products with variety not only in color, but size, also increase your guests perception of value in the redemption room. Keeping their eyes on the BIG prize (Like the 29” Apee) while offering a smaller, matched item guarantees they’ll be satisfied, even if they don’t reach their goal. And guess what!? Neon Apees also have little versions to go along with our 29” item! We recommend you pair ’em up with our 11” option (318343).
#4 | Who do Neon Apees sell best to?
Although Neon Apees can appeal to all ages and genders, we do see a particular target audience that just can’t get enough of these bad boys (or girls):
The Saver Player:
- A redemption program’s favorite player type
- Spends roughly 1,250–3,750 Tickets
- Earns and saves tickets over repeat visits
- Has a plan to obtain high ticket-value prizes, requiring return visits
- Typically older or in the “young adult” age group
If you have any other questions about the Saver Player or their favorite Redemption Range, give one of our Value Architects a call, or visit PlayerTypes.com to learn about our evolving Player Type System.
#5 | How do I merchandise Neon Apees in the best way possible?
The first thing we think about when merchandising: Story. What story is your redemption wall telling your guests? What story will they be a part of? We’ll be writing more about this subject later in the month, so stay tuned (you can sign-up for emails below).
Here are some basic tips & tricks for merchandising your Neon Apees:
- Plush hooking directly to slat wall/grid wall: Doing it this way is the cleanest way to display Neon Apees if you’re putting them up high on your display. This also allows the product to always be displayed as you will be redeeming the product from your backstock area as opposed to on your wall, which would leave a very noticeable blank space every time one is redeemed.
- Hanging them from the ceiling: If you have the ability to hang product from your ceiling using fishing line and plush hooks this is another great way to have these large eye-catching products always on display.
- Displaying on a shelf: These Apees are made to be flexible and can easily be set on a shelf or on top of a crane machine.
- Displaying with Smaller Apees: This strategy is called a “Family,” as we also provide an 11in option to go with the 29in option. Displaying together can help turn a Trader into a Saver if they see a larger option of the same item they like.
- Dump Bins: This is the easiest, yet least attractive, way to display these items, but they do offer the ease of shopping for your end user if you have a redemption room as opposed to a counter.
#6 | What Quantity should I start stocking/ordering if I’m not ordering Neon Apees now?
This is heavily dependent on your type of entertainment center, the size of your redemption area, number of games…you get the picture. Our initial recommendation is to start at the Performance Benchmark mentioned earlier in the post — 2–3 Apees per month — and iterate from there depending on the specifics of your business. We suggest merchandising all four colors in your program, so you might consider ordering a case (8) to start with.
If you’d like to start ordering Neon Apees today, give one of our Value Architects a call, or email us at email@example.com. We’ll be happy to help you get started.
Or, if you want to start winning with Neon Apees right now, you can do so by clicking on the button below to order:
Neon Apees 29" Product Details
- SKU: 318344
- Categories on SMILE: What’s Hot, Exclusives, 3. Saver, Basket Items, Bugs & Animals, Emerald Toy, Generic Plush, Plush, Plush Families, and Shelf Items, Fluff & Stuff Storyboard
- Unit quantities: each, 8/case
Visit us at RedemptionPlus.com for more ways to #win.