Micros South Africa, in conjunction with Singapore-based CPR Vision Management, this week launched an e-gifting platform designed to help companies in the hospitality industry increase direct and repeat business, acquire new customers, and reward and win back existing customers.
Named Isipo, the new platform is based on a platform developed by CPR Vision Management and widely used in the Asia Pacific region.
“E-gifting saved many hotels during the lockdowns, but what’s really exciting is how it can be used to turbo-charge growth and improve margins as the hospitality industry takes off,” says Reginald Sibeko, MD of Micros SA. “Today’s market is all about experiences, and Isipo provides a way for South African and African hospitality players to sell the emotional, experiential side of their business.”
Cameron Richards, CEO of CPR Vision Management, highlights the many ways that e-gifting vouchers could be used to open up new income streams for the industry, and build recurring direct income.
He cites the example of one client which was able to sell $6 million-worth of vouchers during lockdown for later redemption, something that kept the business afloat.
In addition, Isipo allows hospitality companies to “close the loyalty loop” quickly, responding rapidly to aggrieved customers with an apology and a voucher, thus converting detractors into ambassadors. Similarly, vouchers can be used to convert customers into repeat business.
Research shows that when the vouchers are redeemed, 72% of customers will spend extra money at the establishment. The average voucher size is $150.
“With Isipo, vouchers can be merchant-specific, which means that the money goes direct to the establishment concerned, and the flexible platform allows users to develop new ways of attracting new and repeat business,” Richards says. “This is a purely Web-based platform, so it’s ridiculously easy to implement and use, and doesn’t require the purchase of new hardware or software, making it extremely cost effective and eliminating any risk.”