Editor’s Note: This blog was originally published in March 2018 and was amended to include more up-to-date and accurate information.
Consumer engagement can feel more challenging when you work within the unattended environment because you don’t have any direct, personal contact with your consumers. However, there are many ways that you can engage with your customers, whether through card branding, punch cards, discounts, gamification, or more.
One of the most engaging apps in the unattended business world is Monyx Wallet. Monyx Wallet is a mobile wallet that consumers use to pay for products and services in Nayax-powered machines. However, on top of being a very convenient payment app, it also has many opportunities for operators to brand themselves and engage with their customers. Here are some ways that operators can increase sales in open payment environment:
Operators can create digital prepaid cards for customers to top up. Customers can use money charged to these cards at any of the operators’ machines, and to make it easier for the consumer, the operator can brand their card, adding their logo and colors to it.
Reports and Analysis
Operators can use Nayax’s NayaxVend Management Suite to keep track of sales and inventory. This information is available in reports which give operators a comprehensive assessment of what products sell the most at which machines. Armed with this information, operators can create special campaigns that will be exclusively available to consumers who pay with Monyx Wallet and boost their engagement and loyalty.
Incentives: Membership and Punch Card Campaigns
On top of creating special deals and campaigns for consumers with Monyx Wallet, operators can further motivate their consumers with incentives like membership. When consumers sign up to be members, they can get special member prices.
Operators can also create punch card campaigns such as buy 10 get one free, encouraging consumers to buy more products. Because the punch cards are digital, there is no risk of consumers losing the card.
And, most importantly, operators can listen directly to their consumers by asking them for honest machine reviews. This adds a personal touch to the business, and helps operators improve, making consumers feel like they’re heard and improving their experience and satisfaction.
Now that we’ve highlighted Monyx Wallet’s general perks, we’ll go into some more detail about how its capabilities can be even more beneficial to operators who work in closed-loop environments.
Everyone Loves a Discount: Pricing Incentives in Closed-Loop Environments
Offering a discount to consumers with prepaid cards is a great incentive for them to spend more in a closed-loop environment such as the workplace. When employees have access to money that they can only spend in the building, their motivation to purchase there as opposed to going to a nearby shop grows. Operators can use these prepaid cards to provide employees with special discounts, while keeping the regular sales price there for any visitors who would like to make a purchase with their credit card.
Nayax’s NayaxVend Management Suite makes it easy to set up discounts individually on selected machines, with the option for the operator to offer discounts on specific products. Through the management suite, the operator can generate sales and transaction reports to better understand which products are best or worst-selling, and from those insights decide which products they want to promote with discounts.
With loyalty rewards programs, the benefits extend to both the consumer and operator. In this type of scenario, the consumer enjoys a discounted price and the operator receives more sales, with the likelihood of increased repeat business.
Members Only: Reward Consumers with Membership
Another way of applying loyalty rewards programs to your vending machine is by introducing membership levels. An operator, using Nayax’s Management Suite, can identify frequent consumers in a closed-loop environment and reward them by offering different loyalty membership types with tier pricing. Though it is also possible to offer membership in an open-loop environment, it is much more accurate and effective in a closed-loop environment, because the operators knows that the consumer will return to the same area and purchase items at the same machines. The consumer can be given discounts when purchasing a product, or rewarded with free credit when they upload credit onto their prepaid card using Monyx Wallet.
Within the Management Suite, individual cards can be assigned various memberships such as Bronze, Silver, Gold, Diamond, and Platinum, and each membership level can be customized to offer varying benefits. Users can then be encouraged to spend more to achieve higher status.
Operators can personalize the way the discounts are implemented, choosing which products the discounts can apply to, or the minimum spending required for a discount to count.
With these loyalty rewards programs integrated within Nayax’s software, a relationship can be developed between an operator and their customers.
Implementing these tools is an easy way to improve your consumers’ engagement with your product offerings, and they are adjustable to fit in with your consumers’ preferences. The end results are more loyal customers, buying more of your products.
Want to start increasing your consumers’ loyalty? Contact us today.