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Survey: Consumer Gift Card Spending

by yiftee on August 17, 2017

Gift Card Survey Transcript:
1. Yiftee Consumer Survey: Consumer Gift Card Spending Trends – Survey responses collected from 1,500 gift card buyers.
2. If given a free offer, 53% of customers prefer a $5 eGift card
3. 77% of customers prefer to receive and store coupons on their phones
4. Consumers frequently forget about a coupon they have clipped until after it has expired
5. 84% of consumers say that an incentive would push them to purchase one brand’s gift card over another brand’s
6. Consumers prefer sending eGift cards over plastic gift cards
7. Quickness of gift card delivery and delivery method are the main reasons why consumers have sent eGift cards in the past
8. 85% of consumers believe a $5 eGift card is more meaningful than a $5 coupon
9. 75% of consumers would text-in to a brand they frequent to receive an offer
10. 97% of consumers think it’s a nice gesture to receive a freebie gift on their birthday.
11. Contact us: salesop@yiftee.com or (650) 564-4438
yifteeSurvey: Consumer Gift Card Spending

Back to School Shopping Spending Data

by yiftee on August 4, 2017

BAck to school Data

With statistics from the National Retail Federation projecting Back to School spending reaching a total of around $29.5 billion, the months of July and August are now considered the second biggest shopping season of the year. This will be the second highest spending on Back to School supplies since 2012 when spending was totaled at $30.3 billion. This new total is a ten percent increase from last year and is a result of the stabilized economy, rising wages, and increased employment levels.

We are currently in the height of the back to school shopping season. Deloitte’s annual survey on back to school shopping concluded that 71% of spending takes place during an eight week period from early July through late August. An easy way for retailers to anticipate behaviors for this back to school shopping season is to look at projected allocations of spending.

Expected spending graph

The same Deloitte Survey projects that a majority of all shopping will be completed in stores, 21% online, and 22% of individuals are undecided. (graph) Of the undecided, 68% will shop online when online shipping is offered, and 65% will shop online at various points in the summer to take advantage of various deals. A little over half will shop online when they can take advantage of a buy online and return in store deal. 49% prefer a system similar to Amazon Prime where loyalty programs that provide faster, cheaper shipping, instead of discounts on merchandise. Although these 22% may not shop online, a majority will still visit online sites to research Back to School supplies online before purchasing. 

characteristics of undecided shoppers

Social media also plays a role in back to school online shopping as one fourth of individuals will use social media for transactions. Social media is also commonly used to receive coupons, browse products, and read reviews and recommendations.  

social media usage in back to school shopping

Lastly, there are a lot of deals that will help back to school shoppers save money during this shopping season. For example, Amazon has back to school merchandise marked down by 80% this season. This ranges anywhere from children’s apparel, school supplies, and electronics. Apple is also running a promotion where the MacBook Pro and the MacBook Air are discounted up to $300 for teachers and students. Also, a free set of Beats Wireless Headphones will be given with purchase.

Comments or questions?

Give us a call at (650)564-4438 or schedule a demo with us.

 

yifteeBack to School Shopping Spending Data

Food Truck Marketing Tips From Yiftee

by yiftee on July 11, 2017

Yiftee & Food Trucks = No Brainer

As a small business it can be hard to distinguish yourself from the crowd, especially when you have limited resources. So in order to stand out you need to be creative like local coffee shop Prufrock, located in London who came up with the idea of a disloyalty card. Yes you heard that right, this company actually rewarded customers to buy coffee from their competitors. “Customers who patronized eight competing coffee shops and got a card stamped there would get a free Prufrock coffee”. Gwilym Davies, a co-owner of the shop said “I knew it was a good idea when it totally confused a group of city workers who regularly visited for coffee.” This wacky and creative idea garnered a lot of buzz for the coffee shop and helped create more business. “Revenue rose 18% to 20% due to new customers coming in for cards in the first three months”.a

People these days are bombarded with countless ads, this in turn has made it harder to reach your target audience since people just tune most ads out. This has made word of mouth one of the most effective avenues to reach potential customers.  According to “a 2015 Nielsen report found consumers are 90 percent more likely to trust a brand recommended by a friend.” Through Yiftee friends can send each other gift cards with personalized notes, from their favorite businesses. This will allow your customers to not only recommend your business to their friends, but incentivize them to buy from your business too using Yiftee’s eGift cards.

Street foodLocal partnerships, can also be an effective way to gain new customers. The San Francisco based food truck  b. Street waffles found this out when they partnered up with their local Capital One bank to serve their food there once a week. This partnership helped this food truck expand, and now it caters to some of the top tech companies in its region. “Whether its learning from other small businesses and turning to them for advice, or finding opportunities to connect with new customers, small business owners need to capitalize on opportunities to engage with their community, which will ultimately help their business thrive.”

These three marketing tactics are just a few of the many ways small businesses can reach their target audience. Having out of the box and creative marketing strategies can help you small business stand out from the crowd. Sign up for a free trial of Yiftee’s eGift cards today.

 

 

yifteeFood Truck Marketing Tips From Yiftee

Consumer Data Helps Businesses Run Smarter Promotions

by yiftee on July 6, 2017

Blog (2)

In the data driven world that we live in, consumer data plays a vital role in helping businesses enhance their consumer’s experience. Consumer data not only helps businesses understand their customers, but it also helps learn more about the business itself. They can learn the strengths and weaknesses of their business, which can help them maximize their profits and lower their costs. Amazon, which is one of the world’s largest collectors of consumer data, continually analyzes the data that they have on their customers to learn more about their buying behaviors and patterns. This allows Amazon to optimize their customer’s experiences on their various platforms and services.AdobeStock_85595304-min

Data was a key reason why Amazon decided to recently purchase Whole Foods. This acquisition will allow them to gain even more insights into their customer’s buying habits, since grocery shopping is a regular activity for most people. They can use this data to help them predict what items or bands of food shoppers might want to buy; it can also tell them what the most popular days and times are for grocery shopping.analytics-dash

By using Yiftee eGift cards your business will be able to collect important data about your clientele that can give you an edge over your competitors. For example, you can learn when customers are most likely to buy gift cards, or what products/items they use the egift cards for the most. This data can help you enhance the buying experience for your customers. Data from our egift cards is easily trackable since it is all done electronically. Businesses can use our website’s analytics dashboard to find info such as, a graphical display of gift cards sold, value and redemptions. Consumer data can also help with the logistics side of your business. You can use your data to find out what products are the most or least popular and order more or less of those items accordingly. This could help you cut down your inventory costs by eliminating excess inventory of less popular items.

Consumer data is, and will become an even more important part of the business world as technology continues to grow; and becomes more entrenched in our lives. As businesses and consumers shift more towards e-commerce their will not only be more consumers to track, but it will also become easier. Businesses that can not only collect data on their customers, but also effectively analyze their data will be the ones who will thrive in this business climate.  

 

yifteeConsumer Data Helps Businesses Run Smarter Promotions

Tips To Protect Your Business’s Online Reputation

by yiftee on May 17, 2017

manage your reputation

We live in an internet-driven world. Chances are, you or someone you know has been “Googled” before.online reviews Consumers are constantly looking for an expert opinion that will help push them towards a buying decision. In a competitive space, not only is having a good online reputation important, it’s necessary if your business wants to succeed. Protecting your online reputation is integral because it’s very hard to remove that asterisk that’s on your business’s Yelp or Facebook page. What’s shared on the internet is either saved, archived or posted on there forever.

You can have the best in-store customer service in the world but you still have to monitor what people are saying about you online. Here are some of Yiftee’s tips on how to keep your onlinereputation as clean and spotless as possible:

Social Listening

You should always know what other people are writing about you, your competitors and other similar businesses. This initial research information that you gather will help you determine what you can share that others might find of interest or value. It will also help prevent you from hitting sensitive topics that customers have or conversations to avoid. For example, if you own a upscale restaurant, you want to see what culinary experts are writing about you. Monitoring which conversations are about you is also important because it will help you uncover complaints and other problems that you might not otherwise know about.

Some great tools to help you monitor your online mentions are Google Alerts which will give you the ability to run a customized Google search that sends you notifications when new content is added for keywords that you’ve specified. Another great tool is Hootsuite, they offer a social media management tool that allows you to maintain all of your social media networks in one place. You’re able to schedule future messages, listen and engage with your followers, and view in-depth social media analytics in order to see how your content is being perceived and make improvements where they’re needed.

Customer Interaction

Engaging in conversation with customers is something that not many businesses seem to do. Sure, some businesses will offer the standard “we’re sorry for your bad experience” post but does it really do anything for you in the long run? Will it salvage that customer and let your other potential customers know that they won’t have another bad experience?

Beinreputation managementg prepared for customer complaints, being transparent, and having a resolution in mind are three steps in mending a negative experience. Most owners that converse openly with customers on Yelp Reviews, Facebook Comments, and Twitter Posts are usually very apologetic and promise that the customer will have a better experience the next time around. The sad reality is that the owner will probably never see the customer again. Why? Because the owner simply hasn’t given the customer a big enough reason to.

Yiftee offers businesses a way to protect their online reputation. Whether it’s showing appreciation for a customer who’ve gone above and beyond or apologizing for a bad experience, giving your customers a little bit something extra can be the difference between them coming back into your business.

Schlotzsky’s Is a 300+ location Deli Café with a great reputation and a booming catering business. They take service seriously and carefully monitor social channels for feedback that helps them make their strong reputation even better.

Prior to signing on to Yiftee, the Schlotzsky’s Guest Recovery manager sent plastic gift cards to customers to acknowledge and address concerns. This was difficult and time consuming to obtain the customers’ address and snail-mail a card. With Yiftee, he was able to instantly send an eGift Card with a personal message from his desktop, track when those customers come back, and follow up. Personal gift messages and flexible reminders make sure the guest knows that Schlotzsky’s cares, and wants them back again.

Protect Yourself From Unwarranted Criticism

You hear the phrase: “the customer is always right.” This is true — but only to a certain extent. Consumers’ impulse to punish bad service—at least more readily than to reward delightful service—plays out dramatically more often than not.wendys

Many circumstances can put your business in a position where you receive an undeserved review online. A cheated worker can have some harsh words to share, a competitor could be trying to boost their own brand’s reputation by dragging yours through the mud, the list goes on and one. One main tip here is that don’t be afraid of stand up for your business’s values and mission if a customer is attempting to drag your brand through the mud.

A good example of this is Wendy’s. They recently engaged with a customer on Twitter who discredited the freshness of their burgers. Twitter quickly responded to the trolling customer who in return, had nothing to say. The growth of social media means that there are more “keyboard warriors” than ever before. Wendy’s response to this customer actually led to National coverage for the popular burger chain.

Need a reputation management and guest recovery solution? We can help you with that! Schedule some time here to learn more!

yifteeTips To Protect Your Business’s Online Reputation

Introducing: Great Harvest’s “Sandwich of the Week” Club

by yiftee on April 21, 2017

great harvest sandwich

Looking for a great deal to send your friends and family this Mother’s Day/Father’s Day/Graduation? Great Harvest is offering a “Sandwich of the Week Club” starting May 1st where customers can purchase 6 delicious sandwiches, delivered every other week for 12 weeks. The “Sandwich of the Week” will be delivered digitally to the recipient’s email or mobile phone. They can use it for any sandwich or equivalent item. The digital codes can also be redeemed (where available) for any hot or cold sandwich, salad, grain bowl, or bread. For $43, you can send someone 6 handcrafted sandwiches!

Yiftee delivers this digital membership and recipients register via email and/or text. Every two weeks, a code for the “Sandwich of the Week” will be delivered to the customer. Recipients will get regular reminders from Great Harvest until they have redeemedsandiwch of the week club their sandwich of the week. 

With Mother’s Day, Father’s Day, and Graduation all around the corner, send your friends and family the perfect bundled package. To redeem, the recipient simply presents the digital code on their phone to the cashier at Great Harvest. That’s it!

This offer is only good for a limited time so pick up your “Sandwich of the Week” on May 1st when the promotion starts!

Great Harvest’s “Sandwich of the Week Club” promotion runs from May 1st, 2017 – May 14th, 2017.

Are you a business who is interested in offering a _______ of the Month Club for your customers? Schedule some time here to learn more about what you can set up for your business!

yifteeIntroducing: Great Harvest’s “Sandwich of the Week” Club

3 Ways To Drive Repeat Customers Back Into Your Business

by yiftee on April 14, 2017


3 Ways To Drive Repeat Customers Back Into Your Business

Three of the top gifting days are right around the corner. Have you thought about what you will be doing for Mother’s Day, Father’s Day, and Graduation? Mother’s Day boasts one of the most impressive revenue numbers in terms of Holidays with about $2.2 billion being spent on gift cards and about 43.2% of consumers.

Did you know that it can cost a brand up to five times as much to get new customers versus keeping old ones? Also, a 5% increase in customer retention increases profits up to 125%. Gaining new customers into your business is great but what’s the whole point of getting them in one time if you can never get them to come back in? We wanted to give you 3 ways to drive customers back into your business with Mother’s Day around the corner.

Offer special promotions

80% of your future revenue will come from 20% of your current customers. Promotions can be a very effective way of retaining customers by keeping them actively engaged with your brand. The key is to run relevant promotions that reward customSlide2ers, make them feel good about doing business with your company, and encourage them to do more of the same. Yiftee’s “Of The Month Club” has helped businesses by creating enticing deal for consumers.

Yiftee’s “Of The Month Club” drives incremental visits to your business that create habit and loyalty. Offer a 6 month membership/6 week membership (you decide the time frame) for your “______ of the month club.” Customers who purchase will receive a “gift” once per month (could be a meal, spa session, pizza, sandwich). Yiftee delivers the membership as a digital gift and recipients register their email/phone number to the account. Every month, a gift for the “offer of the month” will be digitally delivered to the customer.

The best thing about this is that it’s flexible and designed just to benefit the services and products that you offer at your business. We’ve seen restaurants offer a “Meal of the Week”, gyms offer a “Personal Training Class of the Week”, and spas offer a “Massage of the Month”. So no matter what type of business you own, you always have the capability to bundle your services/products to entice repeat visits on a weekly/monthly basis for your customers.

Offering a bundled package of your products/services drives incremental visits and creates habits because clients are receiving a gift to pick up and use in store. Customers receive regular reminders ensuring that your redemption rate is high.

Loyalty & Rewards

Customers love to be rewarded. In today’s business world, everyone is offering something, so it’s important to keep your prize within reach of the consumer. According to the 2015 Colloquy Customer Loyalty Census, American households hold memberships in an average of 29 loyalty programs, but are active (meaning earn or redeem at least one per year) in only 12 of them. Companies lose money on time and effort, and customers get no more value from the businesses to which they are “loyal.”

Loyalty programs are a great add-on feature that most businesses should adopt. Boloco, an American restaurant chain known for its burritos, as well as a Yiftee merchant, is an example of a company who does the points-based loyalty program well. Customers swipe their stylish Boloco Card at every purchase, and the card tracks the amount of money spent. Every $50 spent earns the customer a free item. It doesn’t matter if that free item is a super jumbo burrito or an extra small smoothie: It’s free once the customer records $50 on their card. Boloco speaks the language of its audience by measuring points in dollars, and rewards in food and drink items. 

Take it a step even further. Reward those who have shopped with your business for a long time by showing that you value their business. A very simple way to do this is to give them birthday or anniversary discounts ipadbirthdayclub-033x-1that they look forward every year. Many of Yiftee’s businesses have adopted our VIP/Birthday Club feature where merchants can easily set up a form on their website to collect customer’s information like email, birthday, anniversary, phone number, etc. so that you can build a contact outreach list for future use. Best of all, gifts are sent automatically to customers based on their Birthdays/Anniversary/Special Occasion. 

It’s estimated that only 10% to 15% of independent restaurants have any kind of Birthday Rewards Club. Those who do not are missing out on an easy and effective way to increase their sales and profitability. Studies have shown that birthday tables spend more money, and and tip better.

Offer extraordinary customer support

Who are the employees in your business that interacts with your customers on a daily basis? Are you making sure that you have the right people in customer-facing positions? Having unhappy employees or shy employees could be bad for business. A customer who has a negative experience with one of your employees can quickly share that with friends and family, and hurt your business’ image.

A fast and convenient way of staying connected with customers is through social media. Customers can share information about their experiences with your business within seconds — in words, photos and videos. That can be great if they had a good experience, but difficult if it wasn’t positive because you can’t delete negative comments from someone else’s social media feed.

Yiftee offers businesses a reputation management tool that allows you to manage your customer relationships. Merchants like you need an easy and fast way to engage authentically with your customers on social media. What better way to thank a customer for a positive social media post than to tweet them your eGift Card for a free latte, appetizer or dessert? Or on the flip side, make amends for a bad experience by inviting them back for a meal on the house! With Yiftee, you can do this in seconds, and turn your dissatisfied customers into your fans and your fans into fanatics. badtweet2

Schlotzsky’s is a 300+ location deli cafe. Prior to signing on to Yiftee, the Schlotzsky’s Guest Recovery manager sent plastic gift cards to customers to acknowledge and address concerns. This was difficult and time consuming to obtain the customer’s address and snail-mail a card. With Yiftee, he is able to instantly send an eGift Card with a personal message from his desktop, track when those customers come back, and follow up. Personal gift messages and flexible reminders make sure the guest knows that Schlotzsky’s cares, and wants them back again.

 

yiftee3 Ways To Drive Repeat Customers Back Into Your Business