Proving Upside's impact: Like-for-like analysis
Comparing Upside sites to similar non-Upside sites
Any program worth investing in needs to deliver consistent, measurable results beyond typically expected fluctuations to prove its impact on your business. One way we quantify Upside’s impact is to compare the performance of Upside sites to similar non-Upside sites; when we control for all other variables, we can be certain that any differences in performance must be driven by Upside. We call this a “like-for-like” study — comparing two similar sets of stores or stations to see what is driving any difference in performance.
How are these two sets of sites selected? To qualify, both sets of sites must:
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Occupy the same market |
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Be part of the same brand or retailer |
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Have the same owners |
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Exhibit identical performance pre-Upside |
The only difference? One of the cohorts is now on the Upside app, reaching new customers and incentivizing infrequent customers to transact more often.
Let’s look at the results of a like-for-like study we conducted for an Upside retailer in Tampa, Florida, that met all these criteria.
We can see in the graph above that the monthly transaction volume across these sites was the same before some of the retailer’s sites launched on Upside. After launch, the monthly transaction volume for sites on and off Upside rapidly diverges, leading to a 5%+ lift in volume for stations on Upside.
After launch
Because the stations in this study are in the same market, owned by the same retailer, and exhibited identical performance before Upside, it’s logical to conclude that Upside’s personalized promotions drove the changes in performance. In fact, since this retailer joined the program, Upside has been able to drive over $26M in incremental profit in less than 3 years while they’ve been on the program.
This is why like-for-like studies are so valuable; by comparing Upside sites to the most similar, non-Upside sites in the same market, we can really see program impact on your customers’ behavior. Because no other program measures each transaction to ensure it is profitable, attributable to the program, and incremental to your business, no other program can demonstrate impact like Upside. To learn more, read “Proving Upside's impact: Overview.”
