It’s no secret, we love gift cards. But most importantly, we think you should love them too.
Gift cards are a vital tool to helping your business thrive.
Building and maintaining a strong customer base, as well as increasing revenues are only a few of the many benefits this small piece of plastic will bring to your brand.
Here are three reasons why you need a gift card program for your business.
1. Keep Customers Coming Back
Gift cards are beneficial to attracting new customers and keeping them coming back. Gift cards are often given as a gift, which means your one customer just turned into two.
You can also use gift cards to your advantage to turn a frown upside with an unhappy customer. Run out of a certain item at your store? Offer a gift card instead that the customer can spend at your store, or when you have restocked the item. This will ensure that you won’t lose that customer and they will be encourage to return and spend.
As well, use a gift card during a return/refund. Instead of giving the cash back, you give your own currency to be redeemed.
2. Increase Dollars
Gift cards create the kind of buying behaviours merchants love.
When customers come into your store to spend with their gift card, they are encouraged to look around and browse the different products. Once they get to the cash, it is likely that the products they have selected will add up to more than the gift card value. Even though the customer may be spending some out of pocket, they will still be happy that they only had to pay a fraction of the price.
They will also be more inclined to splurge when they have a gift card and pick the products that aren’t on sale. So not only is there a lift in spend but also a lift in margin for the merchant.
3. Convenience for Shoppers
Gift cards are an easy gift solution for either the last minute shopper or the hard to buy for friend. Gift card sales are growing at an alarming rate of 20% per annum and has become the most sought after gift for birthdays and holidays.
As well, the gift card can be used as an easy marketing tool for your brand. Your image will always be stored in the customers’ wallet.
Gift cards are an easy year-round solution to help your store grow and they are valuable to any sized business. Also, it is simple to start up a gift card program!
At Ackroo, we will help you every step of the way from purchasing the quantity to perfecting the design of your gift card.
