Digital vouchers as a product
Digital vouchers are digital coupons that can be used to purchase goods and services from a variety of businesses. There are two types of vouchers; digital vouchers that can be used online and vouchers that can be redeemed in-stores. These vouchers cover a wide range of industries including F&B, retail, e-commerce, and lifestyle. With the help of mobile apps, users can easily buy vouchers for different products and services.
By using these vouchers, end-users or consumers can get discounts on different purchases and enjoy substantial savings. The discounts can be in the form of percentage cuts or cashbacks. These vouchers can be used in-store or online and are a great way for consumers to save money while supporting local businesses.
Why this is important?
There are several reasons why it is important for a mobile app to offer digital vouchers:
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Product stickiness: Digital vouchers can increase customer engagement and retention by providing a convenient and valuable service that encourages end-users to use the app on a regular basis. This can lead to a higher level of "product stickiness", where end-users continue to use the app even after the initial purchase.
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Employee benefits and rewards: Many companies use digital vouchers as a way to offer employee benefits and rewards. By providing digital vouchers to employees, companies can offer a flexible and cost-effective way to provide perks and benefits, without the need for expensive physical goods.
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To engage end-users consistently: By providing a convenient and easy-to-use platform for end-users to purchase and use vouchers, the mobile app can encourage end-users to use the app on a regular basis. This consistent engagement can help to strengthen the customer-brand relationship and increase customer loyalty.
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To drive more revenue, revenue diversification: Offering digital vouchers can help to increase revenue by providing an additional stream of income for the mobile app. Additionally, by providing vouchers for a wide range of products and services, the app can also diversify its revenue streams.
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Product expansion: By offering vouchers for a wide range of products and services, the mobile app can expand its product offering, which can help to attract new end-users and increase revenue.
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Rolling exercise: keep revenue flowing: By offering digital vouchers regularly, it keeps the revenue flowing consistently, this can be done by having a rolling exercise and introducing new vouchers regularly.
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To increase wallet share: By offering a wider range of services, such as the ability to buy digital vouchers, the mobile app can increase the amount of money that end-users spend through the app. This can lead to a higher share of the end-users’ overall spending, also known as "wallet share."
How our clients have benefited
After integrating the platform, some of our clients are now able to retain up to 95% of its end-users by pushing them to register as members before utilizing vouchers. This helped to increase customer engagement and retention.
Additionally, they also benefited from revenue cuts ranging from 1 to 10%, provided by IIMMPACT. This helped to increase the company's revenue by providing an additional stream of income.
These clients also reported that it attracted new end-users by partnering with top merchants in various industries, such as F&B, retail, e-commerce, and lifestyle, to offer discounts and deals to end-users through the platform.
Interested? It’s easy!
It is as easy as adding a product code! Just reply to partnership@iimmpact.com with the product name and we’ll send the specific code immediately.