Building a new kind of loyalty – Social Loyalty
It’s hard to go anywhere online without seeing social media icons, “likes” or stories about how Facebook is being used to enhance retailer loyalty…”social loyalty”. Building social media pages, vying for your “likes” and offering targeted promotions…but then what? What does it really mean to retailers for consumers to “like” something in this way? And what does it mean for prepaid and gift cards? So, I go to one of my favorite sources for marketing research, and information, Mashable and I am instantly tied in with my friends who share the same favorite source. Let’s put this scenario into a retail ecommerce setting … I’m researching new mobile phones and selected the phone I’m interested in; I could see who my friends are that have “liked” the Droid on Facebook. This is likely to influence my opinion of the product. The bigger picture shows a snapshot of ecommerce transactions excelling exponentially. Last week Adweek published: “Data Shows Real-World Results for Facebook 'Likes', One new fan for a retailer produces 20 website visits”. This is great news for retailers (our clients), but it’s great news for the prepaid industry and its gift card component as well. GCP’s end customers (B2B or bulk buys of gift cards) benefit as well, as the recipients of the gift cards have new ways of engaging with the card brands they are holding.
Prepaid Expo: Social Media Critical to Growth of Prepaid
You are likely either a marketer or involved with the prepaid & gift card industry OR BOTH (like me). We love this video and we love how the Prepaid Expo is looking beyond traditional information sources and prepaid to bring us their take on the next generation of prepaid.
Potential Pitfalls of the Daily-Deal
Daily deal sites are increasingly popular with consumers across the country, however they are posing increasing problems with the retailers who offer these "too good to be true" deals. Be careful how your company interacts with daily deal sites so they attract more customers, and don't cost your business too much potential revenue. For example, if you give gift cards away at a discount is that too much free money? Here are some tips to success in the daily deal arena:
"Digital Age" gift card predictions
Cutting edge technology is top of mind for companies who provide gift cards in their programs. Here are a few predictions from CashStar and GCP for how the Digital Age will affect gifting: 1. Instant Communication: The email channel will grow and become a primary means of sending and distributing gift cards. Speed, convenience and cost will drive the transition from plastic to digital. Technologies like QR Codes will merge offline marketing and advertising to accommodate retailers’ need to bridge online and offline and consumers’ need for instant gratification. 2. Social Gifting: We have all heard the buzz about “Facebook Commerce.” As consumers become more comfortable socializing and communicating through social networks, this channel will continue to grow in importance for retailers: first as an engagement tool, primarily, and then as a commerce channel. Retailers who have active, engaged Facebook fans will witness the most growth for their digital gift cards. Smart retailers will also utilize the social channel as a means of acquiring customers and deepening relationships. “Social gifts” and incentives are valuable tools in this milieu. 3. Mobile Gifting: Mobile is an emerging channel that will develop as smartphone penetration (and supplementary technologies like mobile wallets) increases and retailers begin the process of enabling point-of-sale redemption. Retailers will want to make sure their customers’ mobile purchases – and the recipients’ experiences, especially – are as friction free and convenient as possible. So retailers: build or partner wisely. 4. A richer gifting experience: In the digital world the customer experience becomes king. Simply offering a “plastic-like” alternative or a message with a “code” will not impress the savvy, discerning digital consumer. They will want digital personalization options and a friendlier, easier user experience. This is only the tip of the technology iceberg, follow our blog to stay on top. Do you have your own digital age predictions? Post them if you've got them. Source: David Douglas Stone is co-founder and CEO of CashStar, digital gifting and incentives company.
Top Reasons why to use gift cards for incentives
Incentives as a way to boost employee morale, motivation and performance is nothing new, but let’s look at 5 perspectives for why to consider gift cards as incentives. Gift cards are as close as you’ll find for a one-size-fits-all incentive. They truly satisfy all demographics, interests, needs and lifestyles and offer much flexibility for the buyer. 1. Employees want gift cards. According to a recent study by Incentives Magazine, 8 out of 10 employees report that they prefer gift cards over other incentives. 2. Gift cards provide choice. Choice not just in what your recipient selects, but you often have choices in how you give them: eCert, mCert (mobile delivery) or plastic 3. Gift cards can be shared with family and friends. A night out with loved ones of friends has been cut back as discretionary spending, revive the night out with gift cards. 4. Gift cards can fit many corporate needs. Bulk gift card purchases provide cost savings and fit a variety of business scenarios can provide additional cost savings. Use for employee incentives & retention and use as rewards in corporate health & wellness programs, consumer promotions, customer promotions & loyalty, and/or as dealer and reseller awards. Source for list: Ceridian Connection.
