Using Gift Cards and Store Credits as Your Brand’s Currency | Nadav Berger | Rise.ai
Honest Ecommerce · with Nadav Berger · September 21, 2020 · 29 min
Summary
This episode explores how ecommerce brands can leverage gift cards and store credit as their own 'brand currency' to drive customer engagement and retention. It highlights how these tools, beyond simple gifting, can be integrated into various customer touchpoints like refunds and rewards to foster future purchases and build stronger customer relationships.
Key takeaways
Implement store credit refunds to significantly increase the probability of future customer engagement and purchases.
Utilize gift cards and store credits as a versatile 'brand currency' for rewards, refunds, and compensations to communicate and build relationships with customers.
Recognize that a strong gift card strategy provides flexibility to recipients and can generate 3-4% of older cycle orders for good merchants.
Prioritize customer-centric product development by actively listening to customer feedback to ensure market fit and avoid building unwanted features.
Explore app solutions on Shopify to address platform limitations and enhance functionalities like gift card capabilities.
Nadav Berger is the VP of Marketing @ Rise.ai, the leading Gift Card and Store Credit solution for online brands. On this podcast, we talk about the competitive Israel app market, how gifting empowers customers, one of the amazing achievements you can have as a brand, and so much more! To learn more, visit: honestecommerce.co Resources: Visit gorgias.grsm.io/honest to get your 2nd month with Gorgias free! Visit klaviyo.com/honest to schedule a demo! Visit postscript.io/install for a free 30-day trial!
What does this episode say about customer retention?
Implement store credit refunds to significantly increase the probability of future customer engagement and purchases.
What does this episode say about shopify & ecommerce platforms?
Utilize gift cards and store credits as a versatile 'brand currency' for rewards, refunds, and compensations to communicate and build relationships with customers.
What does this episode say about conversion & cro?
Recognize that a strong gift card strategy provides flexibility to recipients and can generate 3-4% of older cycle orders for good merchants.
What does this episode say about brand & content?
Prioritize customer-centric product development by actively listening to customer feedback to ensure market fit and avoid building unwanted features.
What does this episode say about customer retention?
Explore app solutions on Shopify to address platform limitations and enhance functionalities like gift card capabilities.
