The gift voucher market has been booming in recent years with global gift voucher sales projected to reach $510 Billion in 2025. The increasing popularity of the gifting culture has given rise to the demand of gift vouchers over the years and will continue to do so.
Recognising its commercial value, businessess across various industries have adopted gift vouchers and incorporated them into their inventory as a product for sale.
Amid COVID-19 & due to virtual celebrations, the demand for gift vouchers has skyrocketed. Digital gift vouchers are convenient and valuable tools for shopping online which makes for a quick and simple gift for any occasion.
If you are looking to invest in a Digital Gift Voucher Software then the following features are a must have!
Features to look for:
1. Flexibility
When subscribing to an e-gift voucher software, you must ensure is that the, software versatile & provides appropriate features crucial for every aspect of marketing. From customer segmentation to flexible expiry date management and voucher design, an e- gift voucher software should grant you the flexibility to
- create various types of gift vouchers, including third-party vouchers
- issue them via multiple platforms
- and offer seamless redemption methods.
As such, you would be able to seamlessly create multiple types of campaigns targeted to different audiences.
2. Automation
Scalability is crucial today. The system you invest in should be highly scalable to support your business as you grow. It should allow for marketing automation to help you implement varied marketing automation campaigns such as:
- Cart Abandonment Offer
Whenever a customer abandons their online shopping cart, the System can automatically trigger an e-voucher to be sent to customers’ email, encouraging them to complete the transaction.
- Referral Rewards
A system to help you attract new customers via a one & two-referral rewards strategy.
One-way rewards: You refer your friend with your generated code, and you earn a reward such as a $5 e-voucher when your friend joins. Only the referrer (you) benefits from this referral exchange.
Two-way rewards: You refer your friend with your generated code and both of you earn an e-voucher when your friend joins. In this case, both the referrer (you) and the referee (friend) benefits from this referral exchange.
- Incentivising Customer Feedback
Incentivise your customers in real time by attaching incentives to your customer feedback forms and surveys. This can provide you with candid feedback and higher response rates from your customers.
3. Personalisation
In today’s age of technology, businesses are focusing on personalising every touchpoint and interaction of the customer journey. Personalisation involves tailoring the customer experience to individual customers based on various attributes such as past preferences, purchase history, demographics etc. According to SmarterHQ, 80% of consumers are more likely to make a purchase from a brand that provides personalized experiences.
As such, personalisation is an important driver of success for many businesses in the industry. With the rising popularity of personalisation, Mass Marketing is becoming history and deemed an “old school” way of marketing.
A good software monitors customer behaviour and keeps track of various customer attributes such as demographics, past preferences and transaction history to aid you in creating personalised marketing campaigns for your niche audiences.
4. Integration
When searching for a new voucher system, you should always look out for one that offers easy integration. As a business you do not want to invest in a software which cannot be integrated with your other systems, especially in the long run when your business scales up and volume grows.
One important factor to look out for is developer-friendliness of the software. A developer-friendly API refers to providing a clear documentation for the developer to operate more productively without hassle. It should also provide the flexibility to create & amend campaigns efficiently with ease. The desired outcome you want to receive from a new software is to be able to market independently without the assistance of the developers to modify your campaigns.
To wrap it up, an ideal gift voucher software should offer automation and customisation features to enable you to implement automated marketing campaigns with dynamic customer segmentation.
Stay away from rigid systems that are unable to scale or integrate with your other systems. A gift voucher software should make your marketing effortless.
Want to know more about VoucherMatic and how it can help your business grow ? Call us for a free consultation at +65 81189106 or email [email protected]
