Your Coins are a digital instrument that enables you to instantly begin selling your business’ own currency for customers to use themselves, or send as a gift card to others. This means you get the amazing flexibility to imagine any type of marketing or growth experience that leverages the power of your Coin. This eliminates the cost of antiquated gift card programs, and even replaces modern ones with something even more social and networked.
It also means you can immediately launch a new stream of revenue for your business. Enable consumers to buy your Coins now, and that cash flow can be accessed instantly instead of waiting for days. Offer incentives to kickstart sales, or even to incentivize customers at special events or holidays.
To activate selling Coins simply go to Promote My Business > Sell Coins and toggle the switch on the right hand side to 'Active'.
Creating a Campaign
To create a bonus incentive to encourage customers to purchase Coins, you can create a campaign. To start a sell Coins campaign, follow these steps:
- Click Create new campaign
- Enter the name of your campaign
- Select a percentage bonus to offer customers, or enter a custom amount
- Select an end date to the campaign (optional)
- Click Create Campaign
Note: If you also have an active Loyalty Rewards program, your Sell Coins campaign must be greater than or equal to your Rewards Rate.
After selling some Coins to customers and accruing funds in your Twism dashboard, you can then select Withdraw to begin this process.
Before performing your first withdrawal, you will need to connect your bank account using Stripe. To do so, please follow these steps:
- Select Withdraw
- In the modal that appears, click Go to Stripe
- Select your country (defaulted to the United States), type of entity, enter your mobile number, and email. Then click Next.
- You will receive a verification code via SMS. Type in the six-digit code you received.
- Confirm your legal business name and fill out doing business as if applicable. Confirm your business website. Then click Next.
- Select an account for payouts. You may choose to have funds sent directly to your bank account or a business debit card. Enter the appropriate details requested in the form. Then click Save
- Review your details and click Submit. You will then be redirected back to your Twism dashboard.
To learn more about withdrawals, see Selling Coins & Fund Withdrawal Fees
Digital Experience for Customers
Empowering consumers to buy your Coins and use them as payment, or send them as gifts, is a completely digital experience that uses apps you’re already familiar with. When Coins are purchased, they’re held in the consumer's digital wallet, and once a gift has been created, it can be sent via any popular messaging or email application. (SMS, Whatsapp, Messenger, etc.) Each user who receives a gift of Coins becomes a new lead for your business, since Coins are trackable instruments.
One of the greatest benefits of selling Coins is the socially trackable data that gets delivered to your business. Of course this would never exist with plastic gift cards or emailed links, but on Twism every interaction becomes a new opportunity to gain a new one, or support those who come often. In your Twism dashboard, we have provided a CRM function which enables you to instantly communicate and reward your customers at any time.
Passive Cash Flow + Costs
With selling Coins, you are unlocking a new, passive channel for generating upfront cash flow, that in turn can drive more sales to your business. Learn more about the costs - transaction fees related to Selling Coins.