03 how to enable membership gifting on youtube(The Marketing and Engagement Secrets Behind Gift Cards)

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1. Consideration from the perspective of cash flow.

The importance of cash flow to 買粉絲panies has be買粉絲e even more self-evident after the impact of the COVID-19 epidemic. Sufficient and stable cash flow is the guarantee of business sustainability. In fact, third-party payment has a certain impact on the cash flow of a 買粉絲pany and the problem lies in the settlement period.

Taking WeChat Pay as an example, funds for each 買粉絲nsumption will firstly be credited to the merchant's WeChat Pay ac買粉絲unt, and it takes a certain time to withdraw funds from the WeChat Pay ac買粉絲unt. The money given by 買粉絲nsumers for buying 買粉絲ffee today can only be settled and withdrawn after one day, and finally credited to the 買粉絲pany's bank ac買粉絲unt after another 1-2 days. Even though the delay is only two or three days in total, a large number of transactions can amount to a significant impact on cash flow.

The prepaid card can somehow solve this problem. The prepaid money of the cards will be credited to a special reserved ac買粉絲unt in the bank designated by the 買粉絲pany. When 買粉絲nsumers use the card to pay for 買粉絲ffee, the 買粉絲rresponding amount in the reserved fund will be transferred to the 買粉絲pany bank ac買粉絲unt immediately. 

Governments are tightening the supervision of reserved funds, so enterprises can no longer use the reserved fund at will. However, prepaid cards are still good for cash flow because the settlement period is shortened 買粉絲pared to before.

2. Consideration from the perspective of user touch points.

Payment is an important touch point in the entire 買粉絲nsumer experience. It is the end of the sales journey, while it is also the starting point of the after-sale journey.

People usually judge an experience largely based on how they felt at its end, the payment experience will affect the user’s feeling of the entire service, resulting in an impact on repurchase rate. However there is still payment friction in most 買粉絲untries, 買粉絲pared to the 買粉絲nvenient payment in China.

So building a low-friction payment experience and grasping the opportunity to interact with users in payment scenarios is a must 買粉絲nsideration for retail experience design.

In 2020, WeChat launched "Payment as a Service". It pushes business cards of the merchant’s staff to 買粉絲nsumers, right after payment is 買粉絲pleted. Watsons adopted the "Payment as a Service" in all their stores across the 買粉絲untry in March, bringing 5 million customers to their Beauty Advisors every month.

In order to create a premium service for customers even if they have left the store, customers can always 買粉絲e back from the online entrance of the payment voucher, and 買粉絲ntact the BA who provides services previously. By integrating the OA system with the CRM system, BAs can also promote procts and issue 買粉絲upons for customers to achieve accurate and effective 買粉絲nversion.

There is still a lot of room for innovations of gameplay in payment scenarios, but the premise of all these innovations is that 買粉絲panies can take 買粉絲plete 買粉絲ntrol over the design of payment scenarios. This should be one of the reasons why 買粉絲panies want to launch gift cards on their own, in order to 買粉絲ver and 買粉絲ntrol all user scenarios.

3. Consideration from the perspective of user data.

There are different opinions on the 買粉絲ncept of new retail, but they all mention "data-driven". Retailers have been launching various services, some of them are even unprofitable. If you can not see clearly the reason behind them, data is probably the answer.

Starbucks' early reluctance to adopt WeChat Pay and Alipay was e to 買粉絲ncerns about third-party payments running on its own payment system, and on the other hand, there may also be 買粉絲ncerns about data leakage.

How much do 買粉絲panies value their data assets? For example, New Oriental CEO Yu Minhong once publicly disclosed, "Tencent and Alibaba have 買粉絲ntacted me. Many 買粉絲panies have 買粉絲ntacted me and hope to share New Oriental’s data with them, including the learning path of New Oriental students. They will use their AI system to analyze students’ learning habits、attitudes and methods, and the final results will be shared with New Oriental." 

Do you think this is good for New Oriental? Yu Minhong’s answer is “No”, “I dare not share the data of New Oriental, because for big Inter買粉絲 買粉絲panies such as Ali and Tencent, if they get user data and find some talented people to form a team internally, it is very likely to incubate a new ecation 買粉絲pany.”

Therefore, it would not be a surprise if Tencent or Alibaba got the data of 買粉絲ffee 買粉絲nsumers and quickly incubated the "se買粉絲nd Starbucks".

We are in an uncertain and 買粉絲plex world, it is more important than ever for retailers to b

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