How Gift Cards Can Grow Your Business
Looking for ways to improve your business's cash flow and increase customer retention? A fantastic opportunity is by offering Gift and Loyalty Cards.
What is the best way to go about doing this? Keep reading for some statistics and to find out!
Discover How Gift Cards Can Help Your Business Grow
How to Use Gift Cards to Increase Sales
Your company supplies individuals with something they require. Whether you own a retail business, a house cleaning service, or a travel agency, the product or service you provide is one-of-a-kind and meets a need.
Assume you own a house cleaning service. When the homeowners step in the door and see their gleaming floors and gleaming countertops, they exhale a sigh of relief.
You have not only given your customer a fresh, clean home, but you have also helped to relieve their worry and take a major responsibility off their plate. Perhaps the consumer is so happy with their clean home that they wish to share their happiness with a friend.
As a result, they ask whether they may buy a gift card or certificate from you.
In this case, you've more than doubled your sales from a single consumer. Consider how much your profits could increase if others followed suit.
Dream sales circumstances like these do not happen without your help. You must provide the greatest experience possible to truly amaze your customers and inspire them to acquire that gift card. Offering memorable experiences is one of the most effective methods to increase client loyalty and generate good discussion in your community.
Contents Page
Why You Should Sell Gift Cards in Your Business
How to Publicize Your Gift Cards
Profits can be increased by using gift cards.
Why You Should Sell Gift Cards in Your Business
When a customer wants to give a gift that is more personal than cash, they will frequently purchase a gift card. This is applicable to all types of businesses, including restaurants, retail stores, grocery stores, service businesses, and others.
While the holidays are often the busiest season for gift card purchases, buyers hunt for gift cards all year. They can be purchased for special occasions such as weddings, birthdays, or graduations, but they can also be purchased simply as a "thinking of you" gift.
And that isn't all. According to a recent report, 64% of customers purchased a gift card for themselves in 2018. Talk about retaining customers!
Why do people opt to buy gift cards for themselves? Nowadays, many gift cards can be linked to loyalty programs.
The issuing company can then provide discounts and incentives to customers who opt to load a gift card and use it as a form of payment on a regular basis. Contact us to learn more about integrating your gift and loyalty programs!
So, why does your company need to sell gift cards? To save you time, we'll simply say it: gift cards are a straightforward, risk-free approach to increase revenues.
When a consumer buys a gift card from your company, they are essentially pre-paying for a future purchase. Sometimes the future purchase is never made, in which case you keep the entire amount of the gift card as profit. Alternatively, according to a 2018 survey, most customers who pay with a gift card wind up spending more than the gift card is worth - approximately $59 more.
Consider the following gift card statistics:
44% of consumers say they went to a new store or business because they had a gift card.
Eight out of ten buyers intend to buy more than one gift card at a time.
Gift cards are the most popular type of gift.
Have we persuaded you yet?
How to Publicize Your Gift Cards
Now that you understand why your company has to sell gift cards, let's look at some ways to advertise them.
1. Hold a Competition
Everyone enjoys free things, especially if they win them! Consider running a contest for every consumer who buys a gift card. You don't need to give away a free automobile or anything fancy; simply put together a basket of products from your company or an enticing discount offer.
Then, after each consumer purchases a gift card, ask them to jot down their name, phone number, or email address so that they can be notified if they win. (As a side note, remember to keep their contact information on file when the contest is over.) It might come in handy for future marketing!)
2. Come up with an eye-catching design.
Draw your consumers' attention with eye-catching gift card designs. To maintain the look fresh and intriguing, it's a good idea to invest in new cards as the seasons change.
Remember that the cards will be representing your company, so add your logo and colors. Contact the creative pros at Electronic Merchant Systems if you need assistance establishing the right design. We can gladly help you with a bespoke design.
3. Motivate Employees
Offer a reward or prize to the person who sells the most gift cards to create some friendly rivalry among your employees.
Again, the prize does not have to be excessive; rather, it should be something exceptional to celebrate their efforts. This is an excellent method to keep employees engaged with consumers throughout the workday while also generating additional income for your company.
4. Provide an Excellent Value
Customers enjoy competitions, but they also appreciate discounts and promotions. Offer extra value with your gift cards, especially during busy gift-card-buying seasons like the holidays or graduation season. As an example, consider the following:
15% off with the purchase of a gift card
Buy $200 in gift cards and receive a $25 card for free.
Buy three gift cards and receive one free.
Get a $60 gift card for the price of $50.
These types of valuable promos give clients who are on the fence about purchasing a cause to purchase that gift card.
There's no arguing with a lot!
Profits can be increased by using gift cards.
If you're looking for a quick strategy to increase revenues for your company, gift cards could be the answer. Remember that in order to get clients to buy your cards, you must first delight them with a memorable experience.
When you combine these methods, you'll be well on your road to company success.