July 10, 2019
Forbes Publishes Article by Blackhawk Network’s Theresa McEndree
Nationally recognized media outlet Forbes recently published an article by Theresa McEndree, vice president of marketing at Blackhawk Network. The piece explores how branded payments can be valuable marketing vehicles—not just as payments tools—that can help brands better reach saturated target audiences and hit marketing objectives. Evidence of this concept can be found in Blackhawk’s “2018 State of Consumer Gift Card Preferences” report, in which 80 percent of consumers surveyed said that gift cards are more influential on their purchase decisions than other incentives, such as bonus dollars or coupons.
McEndree laid out four key ways branded payments can go beyond traditional payments tools, including:
- Driving specific desired behaviors. Offering a variety in prepaid and gift card reward mix is a surefire way to satisfy many tastes and preferences and drive specific behaviors that benefit brands.
- Engaging customers. Marketers can use branded payments tools like prepaid and gift cards or virtual rewards to engage customers on a regular basis, keep the lines of communication open and tailor future promotions informed by previous shopping behaviors.
- Creating long-lasting relationships. Prepaid and gift cards are effective ways to let your customers know you care about them and can open the door for long-term communication.
- Reaching new people. Brands can offer gift cards and other forms of branded payments as promotional rewards or to new customers who try a brand, enroll in a loyalty program or sign up for special email offers.