When a retailer has the ability to manage their gift card programme with complete visibility and transparency then that programme can become a lot more sophisticated.
Surprisingly, given the size of some of the retailer gift card programmes there is still a complete lack of information and data available for the retailer. It’s almost as if they’re flying blind with no element of control or judgement.
It’s reasonable to assume that a retailer wants to see their revenues, contracted partners, commissions payable, etc but they also want to see where their digital codes are being sold.
Here at Reward Cloud we absolutely believe that the retailer should be able to understand in real time where their digital codes are being sold. This will help them understand their channel margin and potentially dictate what incentives each channel receives for their group of customers.
Currently, there is a blanket approach to incentives, e.g. a generic 10% across most high volume partners. However, in reality, some channels should probably be at 5% whereas some channels where the up spend is substantial could be as high as say 15%. But with no insight or learnings these decisions aren’t possible.
Having visibility and control can allow a retailer to run strategic promotions such as Flash Sales. These are often time or quantity specific campaigns to drive revenue as well as awareness. Only through an API real time connection can these promotions take place with any level of sophistication as the results needs to be highly managed and interrogated.
We’ve spent a lot of time, money and effort building our management hub for this very reason. Our retail partners can log in and see their gift card programme activity across digital and physical cards. We can also feed in the redemption data to monitor the up spend across specific channels.
Our channel partners also have access to the management hub to see which brands are selling well and which set of customers (employees) are engaging with the content. Furthermore, we can show the total amount of savings that can be used to show the employee (e.g. Amex, Microsoft, etc) how much their employees are saving on the platform.
In conclusion, we don’t share business sensitive information with non-related parties but we very much believe in a collaborative approach between retailer, ourselves and the distribution channels.