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Managing Float Without Losing Profit | The GrowthPro Edge
WATCH THE VIDEO VERSION ON YOUTUBE
Show Notes: Did you know there is an estimated $21 billion sitting in unused gift and game cards across America? In the FEC world, this is known as "Float," and it represents both a massive opportunity and a significant liability. In this episode of The GrowthPro Edge, Denise Killian sits down with Josh Adkins, North American Sales Manager at Embed, to discuss how to manage unused balances and turn them into active spending.
Key Takeaways from This Episode:
- Understanding Float: Why monitoring unused card balances is critical for spotting system inconsistencies and potential fraud.
- Minimizing Liability: Practical ways to drive customers back to your center, from half-price game nights to high-quality redemption selections.
- The Power of Data: Why you should lean on your card system provider to digest the hundreds of available reports and identify your true KPIs.
- Mobile Wallet Benefits: How the shift to mobile reloading is changing the guest experience and driving revenue before the customer even walks through your door.
Chapters (For YouTube Viewers): 0:00 - Welcome to The GrowthPro Edge 1:45 - Meet Josh Adkins from Embed 2:10 - The $21 Billion Unused Spend 3:42 - Why Retailers Must Monitor Card Balances 5:02 - Strategies to Minimize Float Risk 6:10 - Redemption Makeup and Its Impact on Balances 8:12 - State vs. Federal Revenue Regulations 10:00 - Registering Cards for Birthday Marketing 12:05 - The Scavenger Hunt: A Creative Way to Spend Points 14:15 - Identifying the Right KPIs 16:15 - New Tech: Mobile Wallets and Tablets 20:10 - Final Growth Thoughts
Connect with Us:
· Website: thegrowthprogroup.com
· Free Growth Call: thegrowthprogroup.com/coaching
· Learn more about Embed: embedcard.com
About The GrowthPro Edge: Formerly ThinkTank Thursdays, The GrowthPro Edge is a weekly deep dive into the strategies that help high-performing teams and visionary leaders sharpen their competitive advantage. Hosted by Denise Killian and brought to you by The GrowthPro Group.
View all episodes
By The GrowthPro GroupWATCH THE VIDEO VERSION ON YOUTUBE
Show Notes: Did you know there is an estimated $21 billion sitting in unused gift and game cards across America? In the FEC world, this is known as "Float," and it represents both a massive opportunity and a significant liability. In this episode of The GrowthPro Edge, Denise Killian sits down with Josh Adkins, North American Sales Manager at Embed, to discuss how to manage unused balances and turn them into active spending.
Key Takeaways from This Episode:
- Understanding Float: Why monitoring unused card balances is critical for spotting system inconsistencies and potential fraud.
- Minimizing Liability: Practical ways to drive customers back to your center, from half-price game nights to high-quality redemption selections.
- The Power of Data: Why you should lean on your card system provider to digest the hundreds of available reports and identify your true KPIs.
- Mobile Wallet Benefits: How the shift to mobile reloading is changing the guest experience and driving revenue before the customer even walks through your door.
Chapters (For YouTube Viewers): 0:00 - Welcome to The GrowthPro Edge 1:45 - Meet Josh Adkins from Embed 2:10 - The $21 Billion Unused Spend 3:42 - Why Retailers Must Monitor Card Balances 5:02 - Strategies to Minimize Float Risk 6:10 - Redemption Makeup and Its Impact on Balances 8:12 - State vs. Federal Revenue Regulations 10:00 - Registering Cards for Birthday Marketing 12:05 - The Scavenger Hunt: A Creative Way to Spend Points 14:15 - Identifying the Right KPIs 16:15 - New Tech: Mobile Wallets and Tablets 20:10 - Final Growth Thoughts
Connect with Us:
· Website: thegrowthprogroup.com
· Free Growth Call: thegrowthprogroup.com/coaching
· Learn more about Embed: embedcard.com
About The GrowthPro Edge: Formerly ThinkTank Thursdays, The GrowthPro Edge is a weekly deep dive into the strategies that help high-performing teams and visionary leaders sharpen their competitive advantage. Hosted by Denise Killian and brought to you by The GrowthPro Group.