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How to measure ROI (Return on investment)?

Measuring the return on investment (ROI) of your Wallet program helps you quantify the value it delivers to your business. To maximize ROI, you must actively engage your Wallet audience through push notifications, triggered campaigns, and location-based messaging.

Before you start

To measure Wallet ROI effectively, you need:

  • An active Wallet project with an engaged audience
  • More than 6 months of wallet use
  • Regular push notifications to activate your audience
  • Triggered campaigns for lifecycle marketing
  • E-commerce tracking enabled to attribute revenue
  • Analytics access to compare customer behavior

Wallet ROI requires active engagement

  • Without regular activation, Wallet holders will not show behavior changes.
  • Mirror your email frequency initially, then optimize based on retention rates.
  • Use triggered campaigns for lifecycle marketing (birthday, abandoned cart, reactivation).
  • Deploy geolocation notifications to activate in-store visits.

Track consistently

  • Monitor your KPIs regularly to identify trends.
  • Adjust your strategy based on retention rates and engagement metrics.
  • Test different notification frequencies to find the optimal cadence.

❓ Why does Wallet ROI depend on activation?

Wallet ROI is driven by active engagement. Without regular activation through notifications and campaigns, wallet holders will not show significant behavior changes.

👑 Successful story
Maison 123, a French fashion retailer, achieved 2x purchase frequency, 2x revenue per customer, and +3% contribution to total company revenue by consistently engaging their wallet audience through push notifications, triggered campaigns, and wallet-exclusive offers.

💡 Three methods to measure Wallet ROI

You can use three proven methodologies to measure your Wallet ROI:

Method 1: Sampling with control group [Recommended]

Create two equivalent sample groups: one with Wallet holders and one without. Both groups must be comparable in terms of loyalty status, age, geographic location, and purchasing power.

👁️ Metrics to measure

  • Average basket size
  • Purchase frequency
  • Total revenue

❓ How it works?

  1. Create a control group of customers who do not have the Wallet card.
  2. Ensure the control group is representative of your customer base.
  3. Compare the behavior of Wallet holders versus the control group.
  4. Isolate the impact of Wallet by controlling for other variables.

This is the recommended method because it provides the most accurate measurement of incremental value.

Method 2: Before and after comparison

Compare the purchasing behavior of a group of customers before and after they adopt the Wallet.

👁️ Metrics to measure

  • Average basket size
  • Purchase frequency
  • Total revenue

❓ How it works?

  1. Select a group of customers who adopted your Wallet card.
  2. Analyze their purchasing behavior for a period before adoption (for example, 3 months).
  3. Analyze their purchasing behavior for the same period after adoption.
  4. Compare the metrics to identify improvements.
Method 3: Offer code tracking

Deploy Wallet-exclusive offers with unique tracking codes to measure direct attribution and recruit new customers.

👁️ Metrics to measure

  • Average basket size
  • Revenue generated by the offer
  • Volume of sales

❓ How it works?

  1. Create a special offer exclusive to Wallet users.
  2. Assign a unique offer code to track redemptions.
  3. Promote the offer through Wallet notifications and campaigns.
  4. Track the revenue and sales volume generated by the offer code.

This method allows you to measure ROI quickly and recruit new Wallet users simultaneously.

🔑 Key performance indicators to track

Retention rate

Percentage of wallet users still active after 30, 60, or 90 days.

A good retention rate indicates that your communication frequency is appropriate and users find value in your Wallet card.

Average basket size

Compare the average transaction value of Wallet holders versus non-holders or before versus after adoption.

🎯 Target: 10-25% increase

Purchase frequency

Measure how often Wallet holders make purchases compared to non-holders or their behavior before adoption.

🎯 Target: 2x increase

Revenue per customer

Calculate total revenue divided by the number of customers for Wallet holders versus non-holders.

🎯 Target: 2x increase

Total revenue contribution

Measure the percentage of total company revenue attributed to Wallet holders.

🎯 Target: 3-5% of total revenue

Campaign revenue

Track revenue attributed to Wallet-linked campaigns. This is your primary ROI indicator and requires e-commerce tracking to be enabled.

Revenue per automation

Measure the total revenue generated by Wallet engagement automations to assess journey effectiveness over time.

Automation goal conversion rate

Track the percentage of users reaching your install or purchase goal in ROI test journeys.

Offer code redemption

Track the volume and revenue generated by Wallet-exclusive promotions.

📊 Use Brevo Analytics to track ROI

Brevo Analytics allows you to compare cohorts and run before/after views to quantify your Wallet ROI. With Brevo Analytics track: 

  • Campaign revenue attributed to Wallet
  • Revenue per automation
  • Average order value changes
  • Conversion rates for Wallet campaigns
  • Customer behavior across segments