Many businesses believe that Gift Cards are only used by High Street stores however smaller retailers are now experiencing the benefits of offering these to their customers.
Gift cards have the potential to drive incredible growth, increase customer loyalty and widen your target market, along with other benefits we’ve listed below:
A gift card can easily fit through a letter box which enables you to charge less or even nothing for the delivery when people buy online. As more and more people choose the internet to shop, this is a huge incentive to buy. The convenience also prompts people to send directly from the internet as gifts and as gift cards are for a specific amount there’s no need for the customer to worry about the recipient seeing the receipt!
Advertising Your Brand
Your gift cards will sport your branding and contact details so wherever they go they always advertise your business. As they have value too, they will be treasured much more than a plain business card.
Gift cards take up very little room so you can sell them anywhere. You can liase with other local businesses and ask if they would stock them or even reach out to online businesses for the same reasons as they only need space for a small box. Many would welcome the chance to offer their customers something new; of course, you may have to offer an incentive on sales.
It’s a fact that when someone has a gift card for a specific amount they usually purchase more as they understand that they can’t receive cash for the difference. This enables them to get their full gift card worthwhile buying extra when shopping with you.
On top of this many customers will also buy something for the value of the gift card without considering delivery, so you make a tiny profit there too. Of course, whenever someone shops with you online, they register and create an account, which gives you the ability to send sales emails, incentives to visit again and to turn the one off customer into a loyal shopper.
It may not seem like gift cards give extra profit to businesses as they basically give an exact amount to spend. When used as currency in a shop they are taken in much the same way cash is. However last year over 30% of gift cards reached their expiry date without being used. Of course, you would rather gain custom but there’s no denying that’s a great profit as for those 30% you’re basically taking money for absolutely nothing.
Designed correctly gift cards can promote your business effectively giving you a whole new marketing tool to bring buyers into your brand. They don’t have to be relegated to retail stores either, you can offer gift cards for any product or service from gardening to copywriting, engine parts to adventure days out.
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