How using gift cards during returns can increase your brand’s revenue retention
Nicole Walker
·June 21, 2023
Both you and your shoppers hope that they get it right the first time whenever an online order is placed.
However, the reality is that some returns are unavoidable.
But losing revenue? Not so much.
We believe retaining revenue throughout various touchpoints of a customer’s shopper experience is not only possible, but completely necessary. And an integral part of your retention strategy should be gift cards.
In today’s post, we’ll outline how to provide an exceptional return experience through gift cards that will ensure your shoppers come back to shop again and again.
Flexibility and Customer Satisfaction:
Sometimes your shoppers aren’t ready to make an exchange.
Gift cards offer flexibility and empower customers to choose products they truly desire, when the time is right for them. It’s critical to make your gift cards instant, digital, easy to access, as widely applicable as their original payment method, with no hidden fees or expiration dates. This way, you can ensure another purchase through their gift card, which can lead to customer retention and brand loyalty.
Amplifying Brand Perception:
Every interaction a customer has with your brand contributes to their perception, the good and the not-so-good.
A positive gift card experience during the returns process reinforces the notion that you value your shoppers’ needs and respect their choice. Word-of-mouth marketing plays a significant role in shaping brand perception, and when your shoppers share their positive experiences with their community, it can lead to increased brand recognition and drive site traffic.
Differentiation in a Competitive Market:
In today’s fiercely competitive landscape, differentiating oneself from the competition is crucial.
You’re likely perfecting your products and becoming best in class, but it’s also critical to think about how to stand out throughout the customer experience. Providing a seamless and satisfying gift card experience during returns can be a unique selling point for an online store.
By prioritizing customer convenience and ensuring a hassle-free process, you can stand out from the crowd and establish a reputation for exceptional customer service. This competitive advantage can help attract new customers and retain existing ones.
Building Trust and Confidence:
The returns process is often the litmus test of your brand’s commitment to your shoppers.
When they encounter a smooth and positive gift card experience, it instills a sense of trust and confidence. This confidence extends beyond the return itself, impacting future purchasing decisions. Customers who feel supported and valued are more likely to make repeat purchases, knowing they can rely on the store’s commitment to customer satisfaction.
In the ever-evolving world of online shopping, prioritizing a positive gift card experience during the returns process is no longer an option but a necessity.
By offering a thoughtful, flexible experience, you can amplify brand perception, differentiate from your competitors, and build trust with shoppers. Remember, a satisfied customer is not only likely to purchase again, but also becomes an advocate for your brand. Invest in a seamless gift card experience during returns, and watch your brand outpace the competition.
Rise.ai x Loop:
Are you considering upgrading both your gift card and loyalty programs? Rise.ai offers a simple, streamlined option for customers to consolidate all their store credit earnings and gift cards within a unique digital wallet for easy-redemption.
Rise.ai integrates directly with Loop, enabling your team to automate return workflows and trigger store credit refunds that encourage repeat purchases, providing an ideal alternative to cash-based compensation.
To find out how you can optimize your loyalty and returns strategy today, click here.
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Retain more revenue with Loop today
With Loop, your brand can offer everything from refunds to direct exchanges to shopper incentives and more. Even better? These exchanges build your business.