Why your FEC/BEC Needs Tie Dye Puffer Balls
The Data Speaks: Tie Dye Puffer Balls (311710) 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 mix will not only take your guest’s experience to the next level but also your business.
Last month we talked about how every FEC & BEC needs Samurai Swords. This month, let’s talk our second Top Performing Prize: Tie Dye Puffer Balls.
Tie Dye Puffer Balls are a rad prize in the Trader Redemption Range. We asked our customers who are selling these like crazy for tips & tricks to making Tie Dye Puffer Balls 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 Tie Dye Puffer Balls sell so well?
- Who do Tie Dye Puffer Balls sell best to?
- How do I merchandise Tie Dye Puffer Balls in the best way possible?
- What Quantity should I start stocking/ordering if I’m not ordering Tie Dye Puffer Balls now?
#1 | The Prize Performance Benchmark
Top-performing customers who offer Tie Dye Puffer Balls to their guests order and sell — on average — 28 Tie Dye Puffer Balls per month.
At our standard ticket value of 270 tickets per Tie Dye Puffer Ball, that’s approximately 12,600 tickets a month — or — 151,200 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 Tie Dye Puffer Balls
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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: [12,600 Tickets] ➗ [25 Tickets per Dollar] = $504/month
Revenue per year: [151,200 Tickets] ➗ [25 Tickets per Dollar] = $6,048/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 Tie Dye Puffer Balls 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 smile@redemptionplus.com. They’re all about Tie Dye Puffer Balls this month 👍
NOTE #2: If you’re currently ordering Tie Dye Puffer Balls but your guests are redeeming less than 28/month, we’ll be releasing tips and tricks 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 Tie Dye Puffer Balls way above the Prize Performance Benchmark (28 balls/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 Tie Dye Puffer Balls:
- “We display our Tie Dye Puffers in our custom-made acrylic bins. The design of the bins themselves draws attention to this area of our room, which also helps. The Tie Dye Puffers are great for displaying in clear containers so that guests can see all color options.”
— Grand Prix New York Racing LLC - “Our Tie Dye Puffers move well because we display them in a basket on our wall. The trick is that they’re displayed in a ball-themed section. Guests who are wanting to use their tickets on similar items are drawn to this part of our redemption area.”
— Jason with Stars And Strikes Stone Mountain - “The Tie Dye Puffers have a high perceived value to our guests, even though they’re set at a low ticket value. We display them at eye level in a basket and around other colorful products such as unicorn items.”
— Sasha with Mel’s Lone Star Lanes
#3 | Why else do Tie Dye Puffer Balls 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 Tie Dye Puffer Balls:
- They’re bright! These items are eye-catching and make a basket or bin look full and inviting — since they’re large it doesn’t take a huge quantity to fill (but keep quantity on hand because they sell!!)
- They’re tactile! Kids love to touch and squeeze and squish them. Who can resist?
#4 | Who do Tie Dye Puffer Balls sell best to?
Although Tie Dye Puffer Balls 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):
- Spends roughly 250–1,250 Tickets
- Will “Trade Up” and play longer for select prizes rather than settle
- Plans to win a particular prize before gaming
If you have any other questions about the Trader 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 Tie Dye Puffer Balls 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 Tie Dye Puffer Balls:
- Facings: Make sure all three colors are on display
- On the wall: Tie Dye Puffer Balls will help bring color to your wall when displayed in a basket
- Dump Bins: This display method makes a bin look full and inviting since it only takes a small quantity of Tie Dye Puffer balls to fill one up.
#6 | What Quantity should I start stocking/ordering if I’m not ordering Tie Dye Puffer Balls 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 — 28 Tie Dye Puffer Balls per month — and iterate from there depending on the specifics of your business.
If you’d like to start ordering Tie Dye Puffer Balls today, give one of our Value Architects a call, or email us at smile@redemptionplus.com. We’ll be happy to help you get started.
Or, if you want to start winning with Tie Dye Puffer Balls right now, you can do so by clicking on the button below to order:
Tie Dye Puffer Balls Product Details
- SKU: 311710
- Categories on SMILE: 2. Trader, Balls, Basket Items, Bin Items, Other Toys & Novelties, Puffer Balls, Self Display, and Bounce It Storyboard
- Unit quantities: 6/inner, 18/case
Insights Empower is a collection of thoughts & insights to inspire, educate and connect the Family Entertainment & Bowling Center industry. From the team at Redemption Plus, est. 2017 🎉
Visit us at RedemptionPlus.com for more ways to #win.
