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Keep Reading To See How PDQ Is On Pace To 6x Their Investment
Matt Wade, the operating Director for PDQ here in Gainesville has agreed to share his coupon redemption data for the first-ever Gator Greenbacks case study! We are only a month in but seeing solid results so far.
One Month In
OK so technically it’s been 35 days since classes started however Matt’s sales from his Gator Greenbacks ad is far exceeding our expectations at 4.63x ROAS. As mentioned below, the average ROAS for the food industry is 2.67x. The average for all industries for magazine ads is 3.94x.
This highest ROAS for any category was ‘Baby’ at 3.71x. To see PDQ already beating every metric in that study is amazing, especially since we still have three months to go! Obviously, his redemptions will slow down at some point but we’ll keep you posted throughout the semester.
This is a true testament to the power of print advertising combined with a great product and excellent operations.
As of September 27th, 2021 (a little over a month since the books were distributed) Matt has received 459 coupons back so far! This works out to be about 12.5 per day. His redemptions have slowly been increasing since the first two weeks.
As of September 27th, 2021 the total sales were $4,612.28! We’re super excited about this as it’s one month into the semester. At this pace, the total sales could reach $6,000 – $8,000.
For the first month, he’s already at 4.63x. Well, this wasn’t expected. 4-5x seemed doable for the whole semester after the first batch of data but since he’s already there and we still have 3 months to go we’ll need to increase our expectations to 6-7x.
We’ll keep an eye on redemptions each month from here to see how they taper off throughout the semester. Check back soon to see how Matt’s doing after two months.
Two Weeks In
With food costs on the rise, Matt didn’t want to discount so he settled with a $2 gift certificate. He had run similar offers like this before and mentioned the average spend was high enough to cover the $2.
As you can see PDQ ran 4 coupons which has a base price of $1,069. After the early bird and pre-pay discount, the final cost of the ad is $996.55. *It could have been $944.10 if Matt signed up for an annual agreement for an extra 5% discount.
As of September 6th, 2021 (or about two weeks after the books were distributed) Matt has received 180 coupons back so far. This works out to be about 12 per day.
As of September 6th, 2021 the total sales were $1,870.29 or nearly twice his investment. We’re super excited about this as it’s still so early, we will update again at the one-month mark and hoping for closer to $3,000 in sales there.
To simplify the case study we will use return on ad spend since calculating and ROI would involve knowing Matt’s COGS. For the two weeks, he’s at 1.87x. According to one study, the average for the food industry is 2.67x. However since Gator Greenbacks coupons have a four-month shelf life, we expect PDQ to end up somewhere between 4-5x.