What is a platform provider in gift card programs?
In the network of service providers for branded gift card programs (aggregator, processor, etc.) we find the platform provider.
As the name suggests, the platform provider will provide the interface for ordering digital/physical gift cards from end customers (B2C or B2B). It comes right after the processor or gift card code provider.
The platform provider provides the interface for the customer and for the company’s internal teams
Ultimately, the platform provider provides the gift card solution.
It includes an integrated buyer journey on the e-commerce website, with different ways to personalize a gift card before purchase (amount, visuals, message, etc.).
It adds features around the gift card: free amount, attached visuals and message, send by email or post, cash pool feature (multiple purchases), save on mobile wallet.
It also provides a back-office for internal teams to manage the gift card service: customer service, monitor the statistics and manage reconciliations, etc.
What types of platform providers?
The platform provider can be an agency. It will create a customized solution for the client.
There are plugins or SaaS. It will be an over-the-top solution. The SaaS will offer a comprehensive solution, always complying with current regulations.
The brand can also do without an external provider and develop the solution internally.
Why is it worth using an external service provider?
The first obvious benefit is that it saves time and resources. Instead of having resources allocated to developing the solution, an external provider takes care of it.
The other benefit is the constant upgrading of the solutions. If an internal development is done, it will be necessary to constantly monitor the regulations and the market evolutions.
An external provider, especially a SaaS, will take care of all that. They will develop new features, update processes and manage overall maintenance.
What are the criteria to consider when choosing a gift card platform provider?
Order interface optimization
The number one requirement is obviously to know/test the level of optimization of the order interface by the platform provider. You need to know the average conversion rate of the order page.
A multi-channel journey
On the order page, can the customer choose between a physical gift card and a digital gift card? The sales propensity of digital and physical gift cards is 40/60. To maximize conversion, choice is still necessary.
A unique and specific journey
When it comes to gift cards, we recommend having a different buyer journey than the main one for products.
Gift card buyers are not the brand’s customers. Creating a customer account and validating the shopping cart can be a drawback.
Hands-on and user-friendly features
What features are available? Does the provider have a research and development department to create new features?
The gift card is a gift. The higher the gift card customization features available, the higher the conversion rate will be.
The back office
What back office is available to the brand’s teams? Is it easy to use? Is the brand autonomous from the platform provider? In other words, does the platform provider offer enough management features in the back office?
Support
You need to know the contact points, the time frame and the responsiveness of the platform provider’s support team. Can SLAs be set up, for example?
Specific marketing features
Gift cards are also a tool used in marketing as might be promotional codes or coupons. If the brand wants to create marketing campaigns with a gift card, they need to make sure they have features to do so. For example, create a free gift card.
A business-friendly order page
Does the platform provider deliver a business-friendly order page? That is, the possibility to buy several gift cards at the same time, to distribute them quickly, to have access to invoices, credit notes, purchase orders, etc.
