Vouchers may seem like an old-school marketing tactic compared to shiny new digital methods. You may remember your parents cutting out coupons from newspapers and magazines or carrying around paper vouchers in their wallets.
In fact, vouchers are old school. It was first invented in 1887 by Coca-Cola. Asa Candler, the founder of the Coca-Cola company, wanted to get people to try his brand-new drink. So he gave out hand-written vouchers to the public offering them a free glass of Coca-Cola. It worked like a dream. Between 1894 and 1913, an estimated one out of every nine Americans redeemed their free Coke voucher. The voucher was such a valuable tactic to Coca-Cola’s business building that it took decades for the company to phase them out.
But are vouchers still relevant in today’s sophisticated digital-driven world?
The good news is, yes!
Vouchers are not only relevant in a digital world, but they are also a powerful tool to help merchants – whether online or brick-and-mortar – to drive sales and maintain customer loyalty.
At Boost Connect, we are thrilled to be active in a space that helps online merchants capitalise on the opportunities that digital vouchers offer. Our purpose is to help clients create new synergies and monetisation opportunities and our digital voucher platform enable online merchants to do just that.
Digital-first consumers still love vouchers, but…
The psychology behind vouchers is to trigger consumers’ motivation to make additional purchases or to try a new product by offering them an advantageous deal. That consumer desire has not changed – consumers are still looking for good deals, especially in today’s highly competitive and uncertain world. Inflationary pressures are also driving consumers to look for ways to get the most value for their spending.
The key to voucher usage is relevancy and ease of use. This is where digital vouchers shine. In a digital-first world, digital vouchers make perfect sense because it makes the distribution and redemption process much simpler for both the consumer and the retailer.
Digital vouchers provide merchants a convenient mechanism to reward loyal customers, attract new customers, generate more sales and store visits. Digital coupons remove the hassle of printing and physical distribution, as they can be sent via email, SMS, WhatsApp, on mobile apps, downloaded, scanned from a QR code, or through any digital channel.
Coupled with big data analytics, digital vouchers also enable e-retailers and brick-and-mortar businesses to offer targeted promotions to selected segments of customers. This is an extremely effective way to drive sales and increase customer loyalty.
Setting up digital vouchers is easy with the right support
Having a suitable partner is crucial to making your digital voucher strategy a success. Boost Connect’s Digital Voucher Platform is a one-stop voucher platform where partners like telcos, e-wallets, 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 campaigns to build brand stickiness.
Go here to check out how Boost Connect’s Digital Voucher Platform helps merchants quickly and easily set up effective digital voucher campaigns.
To unlock the full potential of digital vouchers for online merchants, you need the right partner and platform who understands your unique needs and goals. Contact us today for more information about how Boost Connect’s Digital Voucher Platform can help you in your customer acquisition and retention efforts.