Quick poll – are you more likely to redeem a coupon received from a brand randomly or one that comes personalized from a friend who has effectively vetted that brand’s product or service?
No prizes for getting that one right! Most would agree that a gift from a friend is way more likely to be accepted and redeemed than one from a faceless corporation or brand.
How can brands take advantage of this? And what benefits could they accrue?
Research with customers suggests the following:
- Inviting a current, satisfied customer to send a gift is more effective than asking people at random to buy gifts.
- The receiver is more likely to pay attention to the gift when received from a trusted source – namely, abovementioned friend.
- Gift will likely be sent to people with a profile that matches what the business wants to attract in the first place, primarily because it was sent by an existing customer who is likely to send it to “people like me”.
The result is a trifecta of ‘wins’. The business gets new traffic/footfalls, the sender feels good about sending out a gift easily and the receiver gets the warm fuzzy feeling by having someone send them something. Which means they come into the business with a positive predisposition.
Know’N’act is pushing the envelope with a smart, personalized gifting capability that businesses can take advantage of.