The lead role in commonplace gifting programs has long been played by the plastic gift card, which Blockbuster introduced to the public in 1994. Needless to say, gifting is ripe for a major reboot into the digital era.
Modern gifting programs are not just better — they’re pretty darn necessary. Whether you use gift cards as incentives, rewards,
compensation, or just peer-to-peer gifts, the new era of gifting technology is here, and it’s bringing with it a wealth of data and opportunity.
There’s no denying the correlation between the use of data and smart business decisions. Yet traditional gift cards are still just
rectangular black holes — anonymous and disconnected from the real people who use them. In other words, they’re really just a waste of a valuable opportunity to get to know your consumers.
A modern gifting solution is the start of a rich and data-driven two-way conversation between businesses and consumers that starts where the traditional gift card’s functionality ends. With next-gen gifting, you can know who sent the gift, who received it, how much the recipient spent upon redemption, and how soon after redeeming the recipient returns to your business.You can also interact with recipients according to their behavior by reminding them to redeem an outstanding gift and incentivize them to return after a period of dormancy.
In addition to providing access to key data and possessing responsive capabilities, technology now makes it possible to dynamically issue gifts with customized value in real time. This flexibility has major benefits in the world of consumer compensation.
Airlines, for example, can instantly compensate passengers for service disruptions by issuing a digital voucher in the form of a gift.Depending on the consumer’s loyalty status and the type of ticket purchased, the value of the voucher can be determined and issued on the spot. Next-gen gift vouchers also allow airlines to provide consumers with a variety of options when it comes to redemption. When a flight is delayed or a bag is lost, features like instant gratification and convenient redemption options go a long way in ensuring consumer satisfaction.
Modernized incentives are also making its way into the marketing toolbox. Good marketing today is all about building meaningful relationships between brands and consumers. To develop these relationships, businesses are looking for ways to encourage consumers to book, or buy, from them directly over third-party options. Gifts that reward consumers for taking this kind of
action have powerful results.
For example, Mammoth Resorts have had success incentivizing early season bookings with a sophisticated resort gift. The in-resort gift, redeemable at a wide variety of shops and restaurants within the Village at Mammoth, successfully drove the desired behavior. In addition, Mammoth gained insights into the guests’ preferences. Mammoth can now personalize future offers on the basis of guests’ redemption habits.
Using smart gifting for rewards and incentives allows you to get that personalized interaction with every consumer. You can offer perks and services that are more directly in line with your consumers’ preferences by leveraging the data that modern gifting provides.
The future of gifting makes it possible to improve your consumer relationships and connect with consumers on an individual level. If you have questions about how you can modernize your own gifting program to boost consumer satisfaction and drive financial returns, reach out to the Wonder team at email@example.com