It’s a smart and thoughtful decision to give your loved ones gift cards during holiday seasons. These tiny simple cards are loved by almost every growing business. They have become an effective way to increase revenue and customer satisfaction.
A gift card, also known as a gift certificate/ voucher is a card containing a certain amount of prepaid money that is available for use in a variety of purchases. They come in all forms and any denomination.
If you are not optimizing vouchers in your stores then you are turning your back on one of the most fruitful methods to increase sales and attract customers. According to the report of the National Retail Federation, 62% of consumers prefer to receive a gift card over anything.
Undeniable advantages of gift cards
Vouchers can open new possibilities for your business as they have the ability to bring new customers to your store, who have never been here before.
Moreover, gift cards can be the perfect sales strategy to upsell since they encourage more spending. Customers have the tendency to buy extra items to meet the threshold to use them.
Gift cards are also considered as a good substitute for payment, rather than paying in cash or using credit cards. Many consumers love using these cards to avoid bank overdrafts and control spending.
How to Make Use of Gift Cards?
In fact, creating a gift card for your business is quite easy and inexpensive. Here are some simple tips to maximize the potential of this method.
Find an affordable gift card supplier
There are a lot of gift card suppliers range from different prices to a number of cards altogether. With the helping of multiple affiliate programs, you can quickly find a partner that happily exchanges their gift cards for other benefits and vice versa. Don’t just limit your promotions at your store.
Create e-Gift cards
With the rise of eCommerce and mCommerce, having digital voucher will be one of the quickest ways to win consumers’ heart. These cards can be purchased online and then sent to friends or used in-store.
You can also create and sell e-Gift cards through the POS system. Many POS providers are supporting retailers to make up their own vouchers right inside the app. Take a look at ConnectPOS as an example.
Promote gift cards
As one of the popular visual merchandising elements, stores usually place gift advertisements around the locations so they won’t go unnoticed under the eyes of consumers.
Other retailers choose to promote within the community as an event prize, which raises awareness about the brands subtlely. Trendy marketing campaigns on social media also a great method to bring your vouchers closer to customers.
There are other ways to attract customers and increase loyalty, however, vouchers still hold a high place on the list of best low-cost strategies for retailers.