GiftCard Partners Blog

In the dynamic landscape of business, attracting customers is challenging, but the real success lies in retaining them. Repeat customers not only boost revenue but also act as brand ambassadors. To create a robust and loyal customer base, businesses must implement effective strategies that go beyond initial transactions. This blog post explores key methods on how to get repeat customers, offering insights that can significantly impact customer retention.

Consumer touch points can be risky for retailers. Customers are gained and lost when high-risk touch points are not taken advantage of and can result in negative consumer experiences.
LoyaltyOne's new study shows that high risk touch points get even riskier with certain demographic segments. One such example are return policies, they can be some of the most sensitive interactions brands face with consumers. While a smooth return policy, especially for gifts, may seem like smooth sailing  internally, it can make or break customer relationships. For consumers coming in to return a gift, retailers have the opportunity to acquire a new customer that may have never known about the brand. The opportunity here allows brands to build a relationship with a new consumer and create a lifelong revenue stream. At the same time brands have the opportunity to turn someone away who wasn't a customer and now will never be. Closing a consumer off to your brand forever because they had no loyalty to begin with and were met with a bad first experience. This high-risk high-reward interaction should be strongly considered for your business before being implemented, given the high stakes. Many retailers focus on female demographics as they tend to be the heaviest shoppers. However, in this case it’s really the men retailers need to worry about. According to the
 LoyaltyOne survey:

High risk consumer touch points can be risky for retailers. Customers are gained and lost when high risk touch points are not taken advantage of and result in negative consumer experiences. What LoyaltyOne's new study shows is that high risk touch-points get even higher risk when certain demographic segments are at greater risk for negative brand interactions.

Direct customers are essential to business.  GiftCard Partners asked its own B2B customer base what they wanted and the results are all in this infographic. We show you an inside look into the direct customer; including their purchasing habits, the most popular incentive programs, buying habits, category preferences and get insight into their gift card budgets.

Last week GiftCard Partners senior management attended Money 20/20, the biggest industry event surrounding payments and payment technology. The team learned quite a bit on the trip about what the latest technology could mean for how consumers pay for goods. A study released by
Accenture, put an interesting spin on payments that can sometimes can get lost in the latest technology and the cutting edge applications: the consumer perspective. The ongoing challenge in the consumer payments industry has been consumer confidence and adoption. Every wallet, app and mobile device is useless if consumers aren't willing to put their personal information in and use the technology. In the Accenture
survey of over 4,000 North American consumers, they expect to use traditional consumer payments methods like cash and credit 66% of the time, but that drops to only 54% by 2020. While the number is modest, it shows a trend over time that indicates consumer adoption is trending the way of mobile and virtual payment options. The survey results also indicate that although there are the typical fears about security, consumers are also interested in payments choices. Consumer choice overcoming consumer trepidation is the ultimate formula to real mobile and virtual payment adoption. Consumer impact is the only thing that will allow the consumer payments industry to truly turn the corner.