Gift cards are a powerful tool for growing your business, fostering loyalty, and increasing profitability. Whether it’s a gift card from Target or a gift card from Red Lobster, we’re willing to bet that you have a gift card laying around your house or perhaps in your wallet. Gift cards make convenient gifts and ease the burden of shopping while providing the recipient with joy.
You might think that a gift card with a logo is only available to big companies. That’s not the case at all. Small independent businesses can implement your very own gift card program that delivers big benefits for your business in addition to the consumer benefit. Recipients of gift cards, or the original purchaser of the card can re-load the card with additional funds and check their balance online. Gift cards are processed the same as a credit card payment.
How Does it Help?
Merchants can use gift cards to promote their brand name and logo while increasing sales. The best part about gift cards is their ability to grow your profits rapidly. About $3 billion in gift card dollars will go unredeemed this year. That’s $3 billion dollars collected by merchants for the sale of the gift cards that is left in the pockets of merchants. More importantly adding gift cards as a marketing tool can engage your customers and build loyalty. Retailers who implement a gift card program experience a shopping frequency increase of about 69%. 85% of shoppers surveyed reported that having a gift card in a digital wallet made their shopping experience faster and more convenient. Here are some other benefits to consider:
Build Brand Awareness
Gift cards represent extremely cost-effective advertising that keeps your business at the top of the mind of customers and potential customers. Traditional plastic cards are virtually a wallet-sized billboard advertisement except they cost much less than a billboard.
Capture More Holiday Sales
Holiday sales rushes aren’t just for big box stores anymore. With a high emphasis on “Shop Local”, gift cards allow all types of businesses to catch the holiday spirit from their community. From limo rides to car wash subscriptions, jewelry and salons, gift card programs can make the holidays brighter for merchants and consumers alike.
In this modern era of electronics, merchants can also implement digital gift cards. A digital gift card is basically a unique numbered electronic card. The digital card number is entered to make payments for purchases. Using digital gift cards creates a custom-branded gift card that offers your customers the convenience of same-day sending by email. Either type gift card is accepted via your eCommerce payment gateway.
Gaining Customer Data
Gift cards create opportunities to better understand your customers. By learning information about them, you can serve them more effectively. Gift cards can help collect vital data about shopping trends, likes and interests that help target marketing messages specifically to the gift card holder and/or the original purchaser. The cards can be linked to online registrations, allowing your customers to tailor their communications from you to meet their wants and needs, and that translates to more sales for you!
Explore Our Gift Card Programs
We can implement a gift card program for companies of all sizes. We will help you grow your businesses by extending your exposure to a wider audience, drive more sales and incentivize repeat business. Want to learn more? Let’s work together to implement your gift card program. Give us a call at 833-287-6722 or email us at email@example.com