Storing and using gift cards in branded apps and mobile wallets
The pandemic turned the steady evolution of e-gift cards into a digital revolution. With physical shopping curtailed, consumers gravitated to click-and-shop, because they had to. This new necessity accelerated the adoption of digital payment methods, including digital gift cards.
While a majority of consumers will return to physical shopping post-pandemic, their preference for digital and touchless payment methods will continue to trend as a convenient and trusted way to pay. And for those who stick with online shopping, digital gift cards will be a go-to option. Here are four steps to ensure your gift card program is trending, too.
1. Evaluate your digital gift card strategy
Where does your digital strategy fit into your overall giftcard program? Does it align with who your customers are and how they prefer to shop and pay? The rapid acceleration of digital adoption during lockdown should motivate you to evaluate your current digital strategy with your gift card provider/partner. They can help you find new ways to profit from this extraordinary growth.
2. Make sure your customers can store your gift cards in a device
There’s no going back on this trend – consumers want to store gift cards in their mobile wallets or your branded app. This includes includes being able to store and use physical gift cards in a mobile wallet so they can pay with their devices.
This is not just a matter of providing convenience for your customers. 50% of consumers use their smart phones for shopping, and a mobile gift card is an easy, accessible payment option, with the added potential of stimulating lift above card value.
3. Leverage the communication opportunity with mobile wallets and branded apps
Offering a path for your customers to use their digital and physical gift cards in a mobile wallet or branded app opens up new ways to know and communicate with them. Your gift card customer is no longer invisible to you– you know how much money he has to spend and when he last spent.
You also know how to get in touch. The right pass management solution gives you the option to communicate with your customers like never before, directly through the gift card channel. You can drive direct messages to them to encourage them to spend a remaining balance or to offer an incentive or promotional opportunity to draw them into your store. You can keep them engaged or remind them that you haven’t seen them in a while.
4. Continue best-practices for both physical and digital gift cards
Pursue your same best practices for both physical and digital gift cards. Quality design and multiple card variations are important to both. Distributing both kinds of gift cards through multiple channels is essential. Giving both physical and digital gift cards a prominent place on your e-commerce site will drive sales. Tying your cards into your loyalty and rewards program will increase engagement. Giving your customers a choice of physical or digital cards for guest appeasement and merchandise return will promote lift.
The bottom line
Providing multiple ways for your customers to buy, give, store, and spend gift cards will ensure that you are meeting their needs. Now that the pandemic is letting up, it’s time to turn those card balances into revenue and lift. SVS is eager to talk to you about ways to maximize your program and provide the ultimate customer experience for your gift card customers.