There are plenty of reasons to use digital rewards as an incentive strategy for your business. One of these is a shifting need for digital communications now that most Americans are always connected, thanks to smartphones. Another reason is that Millennials—known for disrupting any industry they can get their hands on—are starting to have more and more buying power, and 65 percent say they prefer digital rewards.
That being said, it’s not just Millennials who prefer instant gratification; it’s a global standard across every consumer segment. Today, 78% of all consumers prefer to access rewards and incentives online so they can be received and used immediately. If today’s consumers prefer digital rewards, it’s essential to find new ways to engage and retain them. Businesses need to pivot to these growing trends.
Here are three ways you can use digital gift cards to increase engagement with your digitally savvy customers.
Create Effective Engagement Opportunities
When given in low denominations (such as $2 or $3), we’ve found that eGift cards create opportunities for high-value marketing touch points. These products give you the opportunity to surprise and delight large groups of members, creating higher engagement and driving retention.
Make A Quick Service Recovery
Turn a negative customer service experience into a positive one by enabling your team to issue digital gift cards immediately. This fast appeasement can help limit damage to a brand’s image and prevent negative social media chatter from escalating.
Refer-a-friend programs are one of the easiest ways to drive new sales. The benefits of referral programs are almost endless: prospects buy faster, buy more, and have greater loyalty. By incorporating digital rewards into your referral program, you can decrease lead time by rewarding referrals faster. Customers are more inclined to refer your business if they know the reward is achievable and instant.
The digital age is affecting every aspect of modern business, even down to your incentive strategy. Now is the time to evaluate if your rewards offer the same mobile and digital experience you’ve worked hard to create in other areas of your business.