Digital and Physical Gift Cards
Thanks to constantly evolving technology and the daily development of the modern world, we are witnessing increasing digitalization across all areas of daily life. Things like cash are becoming digital and losing their physical form. That is not the case with Gift Cards. Which is why it is good to incorporate both if your goal is to own a successful business.
Both digital and physical Gift Card purchases are on the rise. There are a number of reasons for this, since cards have proven to be a vital marketing strategy for many businesses. In addition to resulting in an exponential growth in sales for countless companies, a Gift Card in its physical form is very satisfying to hold and use.
Physical form or not, Gift Cards are both versatile and attractive to customers. Buying them as a present for a loved one or using them for oneself, these cards are incredibly useful as they provide discounts and other opportunities many promotions simply fail to offer.
Use Gift Cards as Rewards for Loyal Customers
This is certainly one of the best strategies to keep your customers happy while increasing sales at the same time. There are many ways you can implement a loyalty program. Some of them include:
- Rewards – Rewarding a customer when they buy items and reach a certain spend amount
- A point system based on the value of products. For example, if a customer gets X points, they get a Gift Card worth $10 or more depending on the points they accumulate during a certain period of time
- Holidays – Holidays are that period of the year when countless people go gift hunting and Gift Cards are among the favourite present ideas. The truth is, everyone wants to choose their own present and these cards are the best solution you can offer them
- You can even offer different types of Gift Cards depending on how much they’re worth, or how big of a discount they provide on certain products
Promote Your Gift Cards and Encourage Customers to Buy Them
Simply putting stacks of Gift Cards throughout your business location(s) won’t be enough. You must create a guide. Walk your customers through the process, explaining the endless benefits they can have from getting cards for themselves and their loved ones.
Simply put, make your customers offers they can’t refuse. If they don’t know about the awesome discounts and offers they can get by buying your card, then they won’t be motivated to buy them. That is why it is important to put time and effort into promoting your cards.
A research conducted in 2016 found 75% of customers who used Gift Cards spent, on average, 30% more than the amount on the cards. That trend is growing. Marketing strategies including Gift Cards are among the most cost-effective and easily implemented on the market. Don’t waste anymore time and adopt this strategy for your business today.
