Gift cards are a tried-and-true offering for brands. They can play a powerful part in marketing efforts as a unique currency with the ability to build brand awareness, increase spend, capture customer insights, and reward loyalty. However, most are not realizing the full potential of their gift card programs, which can exceed 6% of total revenue for top performers.
As marketers search for new opportunities to reward and engage customers, gift cards can be leveraged in various ways – from referral bonuses, returned merchandise credits, bonus offers, member rewards, and more.
With expertise in customer loyalty programs, gift card processing, as well as legal and strategic management, partners Clutch and Totus will discuss their approach and their gift card best practices, including a maturity model for brands to go from a basic, functional application of gift cards in marketing efforts, to a strategic revenue center.
This webinar will feature live customer examples for each of the three stages in the Gift Card Maturity Model:
1. Establish: Key operational, financial, legal, and regulatory considerations and requirements for marketers looking to launch or expand the role of gift cards in their marketing efforts.
2. Expand: Acquire and expand with creative use cases, including digital distribution, marketing platforms, online marketplaces, 3rd party retail distributors, and more to increase customer engagement.
3. Excel: Capture and integrate behavioral and transactional data from gift card data with existing marketing strategies, building customer retention, and loyalty.