Setting up a gift card or gift certificate programme is a great way to bring in new customers while keeping the ones you already have. E-gift cards may be placed near the cash register or front desk for convenient access at retail establishments and companies that provide specialised services, such as booksellers and day spas. The following section contains further information on the advantages of gift cards.
Increase the number of potential customers
For example, in an electronics shop, where many consumers avoid purchasing expensive things because of their high price tag, they might benefit significantly from the use of gift cards since they take credit cards. Visits to your company are more likely when you give out gift cards instead of cash. Returns for further purchases may be more likely as a consequence of this.
Boost the visibility of the brand
In essence, your gift card becomes a mobile advertisement for your business when it is imprinted with your logo and brand colours. You’ll keep getting new clients as they buy gift cards for friends and family for birthdays and holidays.
Sell and accept gift cards to increase revenue.
Even while gift cards are typically pre-programmed with a specific dollar amount, many recipients wind up spending more than that. Customers are more likely to shop if they have a gift card to use. Once they start looking, they’re likely to come upon something that costs a little more than the amount of the gift card. Even if you pay a portion of the total, your consumer will be happy regardless of how much you save.
Cut down on scamming.
If you use an electronic gift card, you may only utilise a portion of the value before it expires, removing the need for a physical gift card. Gift cards may also be used for store credit, which helps to minimise fraud by consumers attempting to return expired returns for the money. Providing customers with gift cards in place of cash encourages them to make additional purchases.
For your business’s sake, here are some pointers on how to implement a gift card programme that works:
The holidays and special occasions are a great time to position yourself for holiday and occasion-based gift purchases, regardless of your business status.
Shopping for holidays and other special occasions is still predominantly the domain of retailers throughout the year. Using E-gift cards may help small businesses compete against online and brick-and-mortar retail giants in the present buying market. On the other hand, gift cards allow non-retail firms a chance to get into the gift-giving game. Gift cards are an excellent way for restaurants and other service-based small businesses to increase their gift sales. Creating physical or digital gift cards is the first step. Customers of Clover have the option of using the company’s gift cards to design their gift cards, which may be used for either or both kinds of gift cards.
To be successful, you need to be deliberate in promoting your gift cards to clients once you’ve made them. It’s easy to achieve this by sending an email blast to your client database announcing the availability of gift cards and emphasising their value as a practical and thoughtful present. Use social media to provide new information about your programme. Your restaurant counter, host stations, bar or dining room tables, registration area, waiting rooms, and on your window should all have signs announcing your establishment. Also, teach your employees to hand out gift cards to customers as they check out or pay their bills, if possible. Boost the competition by awarding a reward to the most enthusiastic staff.
For gift card redemptions, have an in-store upselling plan.
You’ve made money selling gift cards and have the receipts to prove it. If you’re looking to boost your sales, gift cards are a terrific way to get you started. Why? It has to do with what’s called “redemption.” It’s a win-win situation for you and your company when the receiver of a gift card comes into your store to make purchases. If a customer uses a gift card, they spend an average of $59 more than the gift card’s value when they redeem it.
So, when consumers redeem their gift cards, make a big deal out of it to make them feel special. When new customers use their E-gift cards, retail businesses may want to put gift-wrapped accessories behind the counter to add to their purchases. Consider delivering freebies that consumers may utilise to prolong the life of the service you just gave as an appointment-based business approach. If you’re in the restaurant sector, you may want to consider offering complimentary appetisers, desserts, or drinks as part of the redemption experience.
Encourage customers to return to your establishment regularly.
Increased client lifetime value equals a higher return on investment for your gift card programme. Gift cards are an excellent way to drive repeat visits among new customers.