SAN JUAN CAPISTRANO, Calif. (BRAIN) — Interbike is unveiling a new program to give retailers cash incentives to write orders at the show. The PayBack buyer rewards program allows retailers to earn cash back for booking at-once orders during the show with participating brands.
Through the program retailers can earn up to $1,500 to pay for their trip expenses to attend the trade show, Interbike said.
Exhibiting brands pay $495 to participate and must create incentives to help drive at-once order writing at their booth. For the fee, brands place a PayBack coupon in the show directory. Retailers use this coupon to take advantage of discounts and specials.
Pat Hus, vice president of Interbike and the Sports Licensing and Tailgate Show, said this type of rewards program has been successful for SLTS for the past 12 years and something he thought could also be successful at Interbike. Some 100 out of 385 brands at the SLTS show participated in a similar program at the January 2017 show, paying out an average of $545 to retailers on $3.9 million in orders written during the show. The SLTS show is also owned by Emerald Expositions, which owns Interbike.
"We have a proven track record with the other show," Hus said. "It drives traffic to booths. If a dealer is debating about going to the show, this allows them to come and pay for their expenses."
The PayBack program is tiered in its rewards structure: paying $50 to dealers ordering $500 to $4,999 of merchandise; $75 for $5,000 to $14,999; $125 for $15,000 to $24,999; and $175 for $25,000 and up. The dollar amounts aren't driven by the size of their orders but rather the number of orders written with different participating brands.
If a retailer places orders with more than four PayBack companies, they earn an additional $50 bonus per company. Buyers receive double rewards for orders written on Friday, the last day of the show.
Orders must be at-once shipments not pre-season buys.
Retailers must turn in a copy of their orders along with an authorized signature from each brand to the PayBack redemption area. Interbike will verify that orders submitted were valid and will mail payouts to each retailer within 60 days of the show closing.
"Our goal has always been to provide a platform for retailers and exhibitors to get together and conduct the business of cycling," Hus said. "This program is going to greatly enhance the value proposition for both retailers and exhibitors, bringing the order writing element back to the show.
"Our industry is going through a tough time right now, and budgets are tight for everyone — we get it. Companies and individuals need to see the ROI on both exhibiting and attending the show more than ever and that's exactly what this program is all about," he added.
Details on the buyer rewards program can be found on the Interbike website at interbike.com/show/payback. Brands can sign up to participate through Interbike.
Hus hopes to sign up 150 to 200 brands onto the PayBack program. Participating brands will get a coupon in the event guide, a floor sticker at its booth, and call out on show maps and all trade show marketing including e-news, print ads, on-site signage and at interbike.com.
