Over the past few years, gift cards have gained massive popularity amongst people of all ages as gift cards make sending presents easier and provide a wide range of options to choose from. It's a boon for consumers worldwide, but it's even more beneficial for business owners. Gift cards have a massive impact on both sales and reach, so they can cause your profits to skyrocket.
Here are a few ways in which gift cards can help your business climb up to the top of your industry.
Branding is an indispensable part of marketing. With personalised merch and goods that have your logo on top, you can spread the word about your business quickly. Gift cards contain unique designs that help customers identify your business and amplify your reach.
Since gift cards are often used for special occasions such as birthdays, anniversaries, promotions, etc. - the people who receive your gift card are introduced to your business too. Not to mention, they trust your brand from the get-go since a loved one has recommended it.
According to a report shared by giftcards.com, it was found that about 72% of customers tend to spend more than the given amount on a gift card. This shows that gift cards don't just bring you profits from the buyer, but also the people who encash them. They are a great way of attracting new customers to your store and urging them to spend more on your products.
It's almost like making money twice on a single sale!
People will never stop giving away gifts, and hence, gift cards can never go out of business. Making them a part of your business model increases cash flow and helps you meet your sales targets.
Covid-19 took a hit on millions of businesses and stopped their primary source of income. An interactive shopping medium like gift cards helped businesses stay afloat. People showed their love for friends and family living far away by sending gift cards from their favourite stores. Thus, even when business is dreary, gift cards can help you earn a steady living.
Gift cards function on a prepaid model. So, the amount that can be availed on a card is specified, which doesn't leave any room for confusion. Unlike ATM or reward cards, there's no pin for gift cards that can be stolen by deceit, so neither the business owner nor the customer loses any money.
Even when it comes to E-gift cards, partnering with a service provider that assures complete security can cut out all financial risks.
Gift cards can help you create a purchase system that keeps buyers coming back for more. Every gift card helps you get business from both the giver and the receiver. It also generates positive word of mouth regarding your business amongst different social circles.
By attaching additional credit points on a gift card, you can even have customers coming back to shop more just so that they can redeem the offer.
Whether you're going through a POS system or partnering up with a processing company, gift cards are pretty easy to include in your business model. Both electronic and physical gift cards can be activated by just tapping a few buttons, so it doesn't require much labour or time. In fact, you get paid even before a purchase has been made which boosts your finances too!
Gift cards are necessary for every business that wants to thrive in this day and age. Having a trusted service provider that guides you through the process is important for a successful promotional campaign. Valuedesign can help your business design and operate the best gift cards in the market using its technical expertise and 15+ years of experience. High returns on investment, ease of usage, and responsive customer care are only a few of the exciting benefits that you can avail with Valuedesign!