Building brand loyalty with flexible payments
5
min read
Building brand loyalty with flexible payments
We sat down with managing director at Gadsby to discuss how flexible payments are helping to make his business more competitive, his products more affordable, and his customers more empowered to buy.
The team at Gadsby knows a thing or two about wicker. In fact, this family-owned business started manufacturing wicker products in 1864, before the dawn of plastics. Six generations later, Gadsby is the UK’s leading supplier of gift packaging and retail displays for businesses big and small. What started as a retail store is now a global company. The team prides itself on understanding the most important factors behind each customer’s purchase behaviour, whether that be sustainability, lead times, or price points. It was the latter that got Will, managing director at Gadsby, to bring iwocaPay on board.
iwocaPay provides flexibility – a luxury that cannot be overstated in today’s financial climate.
“We wanted to offer another payment option that could help our smaller business customers'', says Will. “What’s great about iwocaPay’s buy now, pay later solution is the flexibility we can give those businesses.” Gadsby understands that its customers have to manage cashflow too, and that an opportunity to spread the cost of payments will always help them make purchases. “Our sales team has had open conversations with those customers using iwocaPay to see how they are finding it, and the positive feedback we’ve received so far is a real testament to how well it’s working.” Crucially, the benefits work both ways. “With iwocaPay, we’re able to offer them the flexibility to choose how and when they pay without taking on any of the risk. The customer can spread their purchase, but we still get the funds immediately. It’s a win for us and for them.”
Flexible payment options have the power to transform purchasing behaviour and boost average order value, particularly during peak seasons.
For Gadsby and its customers, Christmas is always the busiest time. “The rush begins in August and doesn't stop until mid December”, explains Will. “We’re excited to see how flexible payments affect the average spending.” iwocaPay offers Gadsby’s customers immediate access to a sum of up to £30,000 in credit, with 90 days to reimburse the borrowed amount. “We know that our customers prefer to distribute their payments, especially during peak seasons, so we’re excited to see how iwocaPay is going to support our customers and impact buying behaviour during the 2024 festive season.” With customers now able to spread the cost over 3 months, Will and the team are anticipating an increase in average order value this year, setting the stage for one of their busiest peak seasons yet.
Offering alternative payment plans not only helps to increase order value, but increase the number of repeat orders too.
“We chose iwocaPay because we recognised the potential it has to help us build up brand loyalty, and encourage our customers to keep coming back to reorder”, says Will. Creating a positive, memorable customer journey is key to nurturing a loyal customer base, and iwocaPay helps to do just that. With a seamless checkout experience which offers customers the option to spread the cost of their purchase in just a few clicks, they are more likely to spend more, more often. In fact, our research shows that the average order value increases by a huge 30% when businesses start offering credit terms.
“The option to spread the cost of payments is a great message for us to be able to put out there to our customer base, and we’re excited to see how it grows.”
As Gadsby prepares to launch several new products, Will sees iwocaPay becoming a key promotional tool to bolster its marketing strategies. “This year we’re thrilled to have even more products to add to our website and we know having iwocaPay onboard is only going to help with our marketing plans. Email marketing and social media are where we expect to see iwocaPay really shine during our product launches.” Will believes that by showing customers that they can spread the cost of their payments with iwocaPay, they will feel more confident in completing their orders at checkout. This has led to the strategic placement of iwocaPay messaging across Gadsby’s marketing materials, such as its Abandon Cart email flow. “We hope that in doing this it will bring customers back to our site and encourage them to buy”.
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