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Gift cards can serve multiple purposes. They’re a tried and tested reward that modern consumers value, and companies use them strategically for a variety of reasons. Of course, they’re often the focal point of loyalty programs to make customers feel appreciated. But there are other creative ways to profit from them! Let’s explore some ideas.

Manage Negative Reviews or Experiences

Let’s face it—it’s the age of information. Customers are on the Web, have access to several platforms to voice their opinions, and actively post reviews about businesses and products. According to Forbes, 94% of consumers avoid a company with bad reviews. Furthermore, 85% of them trust online feedback as much as recommendations from friends and family. This suggests that they hold nearly as much power as personal referrals. These statistics are significant, yet most enterprises ignore negative comments and don’t effectively address them.

There is good news, however! Companies who actively manage unfavourable experiences reap the benefits. Ideally, solving problems before customers post publicly is the best approach. When possible, apologizing and fixing the issue directly with clients can prevent loss of reputation. Gift cards are a great tool to appease agitated customers and retain their loyalty moving forward - they feel heard and valued. Make sure to stock up and train your staff to use them when dealing with difficult situations.

And if clients do leave poor reviews? No problem! Responding promptly and addressing concerns yield positive results. In fact, 45% of consumers support brands that reply to negative feedback. By opening the dialogue and creating opportunities for restitution, companies can counter bad press. Continue the conversation offline, invite customers to contact you directly to resolve the situation, and offer gift cards to mend the relationship.

Solicit Positive Reviews

Increase your overall ratings online by prompting clients to leave positive reviews. Develop a strategy to encourage your most valued customers by exchanging small denomination gift cards for feedback. 72% of consumers wrote a review in 2020. Trading rewards for good comments will tip the scales in your favour and ensure that client reviews make you shine!

Gift cards are a cost-effective and powerful medium to manage both negative and positive reviews. Companies who incorporate this method in their business planning see a great return on investment and successfully protect their brand’s image. If you don’t yet have a strategy in place, get started with us today by creating a free account. You won’t regret it!