Thanks to advances in internet and mobile connectivity technology, we live in a world that has been forever transformed into one where digital is fast becoming the most preferred lifestyle platform. From shopping, to learning, to entertainment, to information – many things in life that used to require a physical presence are now going virtual.
In the old days, establishing personal partnership with customers, channel partners and employees was a slow but essential process. Business owners built these relationships one by one, and over time their reputation and word of mouth increases.
However, with internet and mobile technology today, customers and business partners can interact with businesses and brands in a speed and scale that could never have been imagined even just a decade ago. This shift has presented tremendous opportunities for merchants, and also challenges.
At Boost Connect, we are very excited about these developments in the online retail space as our purpose is to help clients create new synergies and monetisation opportunities.
Challenges and opportunities in digital commerce
The pace of the digital marketplace has accelerated exponentially compared to the physical marketplace. This is because digital products and platforms have enabled people to be connected to multiple platforms simultaneously and get whatever they want instantly. For example, when people shop for a product, they typically have several browser tabs are open simultaneously, looking up sellers, comparing prices, checking delivery times and searching for promotional benefits. As a result, the digital marketplace has become a very competitive and high-speed environment.
That’s where digital vouchers can have a significant impact as part of the customer acquisition and retention effort.
For merchants looking for effective ways to attract, engage and convert customers, nothing comes close to digital vouchers. They have tremendous versatility, which allows merchants to create excitement and engagement through competitions, giveaways and promotions. Digital vouchers can also be used to launch a new product, recognise and reward employees for great work, and to celebrate birthdays and anniversaries. With the right digital voucher platform and partner, the possibilities are endless.
Boost Connect’s Digital Voucher Platform offers a full end to end management of digital voucher from onboarding, real time tracking of voucher usage, inventory, performance reporting, and billing.
Our Digital Voucher Platform is as a one stop voucher platform where partners like telcos, ewallets and online & offline merchants have access to vouchers of different genres. With Boost Connect’s Digital Voucher Platform, merchants can now set up promotional campaigns to reach more customers, improve sales conversion and initiate loyalty campaign to build brand stickiness
Advantages of Digital Vouchers
Vouchers have always been one of the best methods for businesses to acquire new customers and increase the frequency of customer visits. This is because the short-term benefits offered in the voucher creates strong incentives for the customer to purchase new products, purchase more of a product they already use, or to make more visits to a store.
Vouchers are a favourite strategy of merchants as customers almost always spend more than the benefit amount of the voucher. It is very rare that customers will use the voucher without spending more on upsells or on other products, resulting in additional profits for the merchant.
Digital vouchers amplify these advantages to suit the digital lifestyles today because they meet customers’ expectations for convenience and immediacy. What’s more, digital promotions are highly shareable on social media. This provides many opportunities to enjoy an organic boost for your business and brand.
At Boost Connect, we see many exciting opportunities for merchants with digital vouchers. Here are the five key benefits that digital vouchers hold for online and offline merchants.
- Digital vouchers can be used at both online and offline stores
Digital vouchers allow customers to easily shop both online and in-store, providing more reasons for users to purchase at a store.They are also much easier to redeem than a physical voucher. Once a voucher reaches their inbox, all a customer needs to do is present it at the store to redeem their reward. It’s even easier if it’s an online merchant – customers simply enter the voucher details at the checkout.
- Digital vouchers are extremely versatile
Digital vouchers can be created across many products – from online gaming, to fashion, to pharmaceuticals, to groceries, to restaurants and any other merchant looking to encourage consumers to try their product or service. Digital vouchers can also be personalised to individual customers, enabled to be redeemed instantly, and even provide an immersive experience through user interface design. The only limit is the imagination of the merchant.
- Digital vouchers require simpler logistics
Digital vouchers are delivered easily and instantly, sent directly to the recipient’s phone or email. No more worries about printing quality, lead times and distribution timelines of physical vouchers. All merchants need to do is select or create a digital voucher on Boost Connect’s Digital Voucher Platform and send it to their database. All customers have to do to access the digital voucher is to tap a button.
- Digital vouchers involve lower costs
One of the most attractive advantages of digital vouchers is that they involve much lower cost than creating a physical voucher. Digital vouchers eliminate printing costs, logistics, and distribution of physical vouchers, making it a convenient and cost-effective option for merchants and companies with tight budgets.
- Digital vouchers provide better user experience
Unlike physical vouchers, customers don’t have to worry about losing or damaging a digital voucher. They are safely stored on their digital platforms until they’re ready to be used. The fast-growing number of customers who use digital vouchers means that merchants can choose exactly the right vouchers for their target market. Digital vouchers also allow merchants to add a personal touch by addressing the recipient directly and adding a custom message.
Digital vouchers are truly a marketing tool perfectly designed for the digital lifestyle as it allows merchants to create meaningful experiences and connections with customers. Our Digital Voucher Platform is helping clients unlock the full potential of digital vouchers.
Contact us today. We’ll be happy to show you how Boost Connect’s Digital Voucher Platform can help you in your customer acquisition and retention efforts.