How are B2B Gift Cards improving customer relationships?
Get going with the new-age gifting and grievance resolution ways!
Gifting is one of the most progressive business practices. It’s nothing new to send gifts to your customers and partners. In fact, a present in any form, nurtures business relationships. Corporate strategists have also cited gifting to creating a brand image. Furthermore, it is a way to pay attention to and care for your customers.
The UK Gift Card & Voucher Association (UKGCVA) reports an increase of 3.07% in B2B Gift Cards sales. It accounts for 51% sales of the total gift card market in 2016.
The importance of B2C gifts and promotions has proved its impact on the masses. The effect of loyalty marketing is quite prevalent across all the industries. But, B2B gifting is yet an untapped area. Without a doubt, it holds a lot of potential. Consider the long B2B sale cycle, the amount of money involved and a number of decision-makers. However, the figures mentioned above state that B2B marketers are getting inclined towards the gift culture for a successful game plan.
It’s tough to score a B2B sale! Besides that, it is tougher to hold on to them and keep them happy enough that they come back to you with more purchases and referrals. An organisation has to be on its toes while providing high-level support, timely responses, designing accurate processes and being in constant touch with their B2B clients to continue their valued relationship. We strongly believe in the quote-
It is said that gifts persuade even the gods.
– Euripides
With the emergence of technology, digital gift cards have found their way over other freebies or cash rewards. Client relations can go far with the focused use of B2B Gift Cards. In our opinion, it is high time for businesses to embrace gift cards in their B2B CRM strategy. Stating some real benefits as below-
Customer Retention
Sending gift cards to the existing customers on certain occasions, milestones, or just as a sign of association is a good approach to keep in touch with them.
It can be in the form of your own company’s credits or a third-party card, depending on the working area. E-gift cards serve as a medium to establish a friendly bond that affects their purchasing pattern in an optimistic manner.
Customer Acquisition
As they say, an early bird catches the worm! B2B gift cards give you a competitive advantage over others in the market.
It is an upright means to lure new customers to form a new beginning. Giving something extra at the start shall promise huge returns in the long run. An organisation can design a comprehensive customer journey with the use of gift cards in a quantifiable method.
Grievance Resolution
Losing a B2B customer is a big big big deal! Since mistakes cannot be completely avoided, strong grievance resolution techniques should always be in your backup plan.
Dedicate gift cards as a grievance resolution tactic to convey your apologies. It shall help your business to win back the hurt customer. It is a sign of assurance that they are a valuable part of your business. You can also encourage them to try any new upgraded service.
Brand Endorsement
Earning customer loyalty is a hard nut to crack. Talking about B2B, unless you are flawless and excellent to your existing customers, they wouldn’t recommend you!
The crux of the matter is to bond with them above and beyond your usual customer support services. As again, gift cards are a great pact. Your customers will voice out your impact in shaping their business looping in some worthy referrals.
Interested to know how you can integrate gift cards to boost your client relationships?
We have partnered with many organisations to help them with gift card management using our customer support software. The automated platform assists with e-gift card distribution, redemption and validation. The information is synchronised with the CRM platform enabling a complete view at any point of time. Connect with our team to know more about it.
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