By Pat Dalton, CEO and Founder of iGoDirect Group, Victoria, Australia
As more people work remotely (and not even from their regular home address), sending a physical delivery can remove the joy intended and designed to actually deliver some instant gratitude and gratification. – Pat Dalton
Shut up and take my money!
Everyone loves free money, and when it comes to creating and sharing rewards with the team, staff, or suppliers, thinking about how the recipient receives and experiences the reward is key. But IgoDirect Gift Card utilisation trends in 2021 showed us that times are changing. Digital cards are increasingly important. As more people work remotely (and not even from their regular home address), sending a physical delivery can remove the joy intended and designed to actually deliver some instant gratitude and gratification.
Money has been around since 3000BC, but over the last few years, many countries are increasingly starting to shun and move away from physical money. According to BBC Future, and well before the onset of a global pandemic, these trends also indicated that when the money wasn’t physical, we would like spend it more freely, and more of it. But like any person moving through life – we all remember getting our first gold coin, our first bank note, and for many today – our first bank card. Our relationship with physical and Digital money has changed, but when it comes to gift cards – there are very important benefits to both.
Have gift card, will spend.
There’s a lot to be gained from a physical presence: from the moment they open the envelope to reveal the card, to sliding out the card slotted between their personal cards in the wallet. A tangible product makes the reward physical. And having something tangible that works every time your client opens their wallet is a serious benefit in creating brand awareness.
CASE STUDY: MAKING BILLS BAREABLE
Customers hated thinking about bills, they hated paying bills — who doesn’t? For an energy client wanting to change the relationship with this monthly grudge experience, we had to motivate a change in the relationship with money and the brand.
Customer research told us that since introducing direct debit as a payment option, they’d noticed that those who had to actively pay their bills instead of having them automatically paid from their accounts were leaving at a much faster rate. So, using our Classic Cards, we were able to help them switch remaining customers to a direct debit profile.
They sent out envelopes with a promise and a custom-branded card: if you switched over to direct debit, you could activate this card and spend the reward anywhere EFTPOS was accepted.
Compared to their previous efforts to incentivise switching, their response rates doubled. And for an energy provider, to be associated with a reward and not the cost of an expensive bill was a serious brand asset.
Digital rewards are like Digital hugs 🤗
A 2006 research piece confirms that money can change behaviour – generally for the better. The psychology of money is as fascinating as it is a reminder that it is a wonderful, motivational tool. Digital money is no different. A Digital reward is like a Digital hug – but in the age of emoji’s we’re familiar with sharing and receiving Digital, social, exchanges.
A digital gift card is no different – much like slipping into the DM’s, opening an email that says ‘Thank You’ and reveals a generous reward can flip the tone of the day in a heartbeat.
No envelopes and no paperwork mean more trees for tomorrow! Lower production and distribution costs and a quicker time to market – we don’t have to go to print or wait for delayed postal services to catch up with demand. You can even services rewards across different markets, at the click of a button.
Why people choose digital rewards:
– No physical letters reduce reliance on postal services and associated postage costs
– Online promotion and reward management allow you to turn your campaign around faster, and 100% online
– Fewer challenges with managing printing requirements, like design, stock, and printing lead times
– No express or standard shipping concerns, or worrying if they will be home to get the cards at all – hit them instantly, in their inbox
Our investment and innovation in technology are more important today than ever before. The market is changing and how we as customers accept and use our rewards are different too. Whether it’s a birthday gift or an incentive from the office – we have automated the process putting the creation and distribution power in the hands of the sender. Pat Dalton
The best, most exciting features lie in the potential for automation: behaviours from your customers can trigger a digital reward to be sent. Winning back lapsed customers is a very popular reason for a cash back offer, or a random Digital incentive.
“We Miss You!”: We all know that after you’ve worked hard to win a customer, it can hurt pretty badly to lose them. Digital rewards are an easy solution to push those lapsed customers back into the ‘active’ category. We’ll work with you to segment your database, locating those most likely to respond to the offer of a Digital reward. We’ll send a custom email inviting them back into your brand with an exciting offer. You set the terms and conditions, and we’ll hook them back. Our journey with you doesn’t end there, we can learn about your customers also. Our anonymised redemption data will help you understand how your audience redeemed their reward:
a. what they chose to purchase in your store to get the rewards
b. what they spent their digital reward on
This even works for physical stores, using the email addresses registered to their WiFi services as the database. If you can see that someone hasn’t visited — logged in — in a while, you can offer them a reward to return and spend!
CASE STUDY: GO THE DISTANCE
One of our clients wanted to send a reward to their members over both Australia and New Zealand but didn’t want the logistical nightmare of sending across multiple different postal services, especially as the office organising the rewards was in Australia. With a quick turnaround time, digital rewards cards were the obvious choice for a solution that their clients really appreciated — and that effectively promoted future engagement.
While that’s all very exciting, it’s got its time and its place. Our classic, tangible rewards cards are still one of the best ways to incentivise and reward your customer base.
Variety is the (essential) spice of life
We offer both digital rewards (email delivery) and classic rewards cards (postal service delivery). What you need and what you choose is really dependent on your timeline to market, your target audience, and your business goal. We have the tools, technology, and experience to get you in the driver’s seat of the perfect reward and incentives program. Once off? Automated? We have over 20 years of experience in designing programs that work and delivering rewards that satisfy. Talk to us today about powering up your marketing strategy for the year ahead.
So, what do you want to achieve with your next campaign?
Increase your monthly sales figures? Reactivate your lapsed consumers? Incentivise customers to take up your offer? To discuss the best approach for you (with our rewards, there’s always something we can do for you), get in touch by calling 1800 043 656 or emailing us at sales@cometrue.com.au. We’d be more than happy to talk through your options.
