Mar, 6, 2023
Compass Coffee partnered with Ansa to power a embedded stored value wallet in-app.
Compass Coffee was founded in 2014 with an idea that was as simple as it was profound: That great coffee doesn't have to be complicated, fancy or hard to pronounce. At Ansa we have a similar ethos: payments should be a tool for brands, not a hurdle. In the same way that their coffee simply fits into their customers’ lives, launching customer wallets doesn’t need to be complicated either. Ansa provides the most seamless payment experience a brand can offer.
Together with Ansa, Compass Coffee has been able to better carry out their mission to provide their customers a delightful experience. Since launching customer wallets with Ansa they have seen an increase in order frequency, higher customer engagement, and reduced payments costs.
Successfully attracted new customers to the app with reward bonuses, referrals, and auto-reload – all powered by Ansa’s Incentives EngineData-driven marketing strategies based on wallet usage insights
*Wallet holders vs. non-wallet customers
Many of Compass Coffee’s customers were asking for an option to order their coffee ahead of time and pick it up in store. Compass knew that an order ahead app could increase revenue by increasing the frequency of visits, but it would also increase their cost of payments significantly.
Compass Coffee looked to the Starbucks wallet as a best-in-class tool to keep unit economics under control while driving increased frequency from their customers. The Compass Coffee team connected with Ansa in 2023 and together we were able to ensure their app launched with a stored value wallet seamlessly integrated into the customer experience.
We’d looked for a solution like this for years but couldn’t find one that we believed could really deliver a seamless payments experience and all the retention benefits of a wallet.
Ansa was the obvious choice to launch the Compass Coffee wallet program with as soon as we met them, and they’ve been a truly collaborative partner.
We’re now even better equipped to meet people where they are in their busy mornings!
Compass Coffee set out to build an order ahead app and needed a partner to power their integrated stored value wallet. They believed that this would help them increase revenue in a myriad of ways: increase average order frequency, reduce costs, and provide a better method of marketing to their customers. In speaking to Ansa, our scalable technology and consultative approach to launching an embedded customer wallet resonated with the goals that Compass wanted to achieve. With the Ansa platform they were able to quickly implement the stored value wallet in their mobile app and benefited from thought partnership with us, ensuring they incorporated best practices shared by other Ansa customers on how to launch and drive adoption.
Using Ansa’s flexible Incentives Engine, Compass Coffee is able to easily drive adoption of the wallet with their customers. For example, they can fund a new customer’s balance with reward dollars for downloading and using the app or add a bonus to drive larger reload amounts.
In the Ansa Portal, Compass Coffee is able to analyze their customer’s behavior and feed it into their marketing strategies. Ansa gives Compass full access to usage data in an easy-to-manipulate way which empowers them to create custom user segments, for example separating their power users from those who seem likely to churn. They can target these users separately with perfectly crafted marketing campaigns, and combine with Ansa’s Incentives Engine to maximize engagement and ROI of those incentives.
Altogether these features helped Compass Coffee maximize the revenue generated during their busy late fall season, without a hitch.
Within a few months of launching the stored value wallet, there was a 30% increase in visits from customers who adopted the wallet compared to loyal regulars who did not. This increased frequency has driven a powerful increase in revenue.
Revenue rose by 26% per wallet user and Compass Coffee saved over 28% on payment costs. In addition to that, adoption of the stored value wallet grew 113% month over month, customers clearly love it!
Lastly, Compass Coffee has seen that customers who purchase with the wallet are 65% more engaged with the brand than those not using the wallet to order ahead. This gives Compass Coffee more opportunities to interact with their customers and further drive up order frequency and revenue.
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