With consumers increasingly confident with the electronic world, there’s never been a better time to investigate e-code rewards for use in consumer loyalty schemes. With the needs of harassed retailers everywhere firmly in mind, here is our list of the top benefits of e-code rewards.
1. Instant gratification
E-codes can be delivered to a phone, tablet or computer virtually instantly, meaning that the customer can be quickly enjoying their reward, potentially even increasing spend on the same visit.
2. Security
It’s difficult for e-codes to be activated by anyone other than the intended recipient because they are associated directly with the end-user.
3. Cheap to produce
Once you’ve created your electronic e-code, you can reproduce it as many times as you like. There are no printing costs.
4. Cheap to deliver
E-codes can be delivered straight to the phone or electronic device of the consumer’s choice without incurring postage costs. While gift cards can be distributed with zero value loaded and therefore relatively cheap to deliver, gift vouchers will incur secure postage costs.
5. Personalised delivery
E-codes can be fully personalised in a more cost-effective manner than either gift cards or paper vouchers. When this is done correctly, it can help people feel like they are genuinely being recognised for their actions and rewards can be tweaked with the season or linked to special events without having to radically change the infrastructure. It also enables firms to rebrand and merge without being left with excess stock.
6. Flexible denominations
Because you are not constrained by print costs and runs, you are less restricted by the denominations you offer. This can create some opportunity for creative consumer rewards based on many differing behaviours with reward values to suit. It also means you can try different things without being trapped by excess stock if something doesn’t work.
7. Increasingly wide acceptance
Smart-phones and tablets now have broad acceptance across the majority of demographics. Most people receive their emails throughout the day, almost irrespective of where they are and what they are doing and e-code rewards are widely accepted by consumers and retailers alike.
8. Works for all sizes of retailer
Complex e-code reward schemes were once the preserve of the major national retailers, but the evolution of technology has now made them potentially cost-effective for far smaller operations, with the range of e-code brands ever expanding.
9. Instant data
E-code rewards offer almost instantaneous data, the holy grail for marketing, sales and finance teams alike. Information that you can use to amend a reward strategy while it’s happening.
Many years ago when brands got their rewards wrong, they would have to simply accept it, hang their heads and take the long walk to the senior leader’s office to explain how long they’d be stuck with a non-performing strategy. Now, problems can be fixed and opportunities exploited almost instantaneously.
Find out more about our e-code distribution system, Evolve Digital Rewards, here.
