Gift card giving has risen dramatically, owing to the epidemic and the world’s shift to online purchasing. Customers expect to be able to apply for, buy, and share gift cards online. As a result, gift cards have been widely used as the ideal gifting solutions for all occasions. They’re not only necessary to meet customers’ expectations but also part of a marketing strategy to boost conversion rates.
They basically do the job for you when correctly set up and targeted to the suitable buyer. Gift cards can increase your sales because over 60% of gift card users spend more than the amount on their card.
Why should you sell gift cards?
If you’re still on the fence about selling gift cards on your website, here are a few reasons why you should:
Frequently requested:
Many establishments are in a rush since we live in a fast-paced environment. Gift cards allow both donors and recipients the valuable freedom to purchase whenever they choose.
Advantage over competitors:
While this marketing strategy won’t allow you to overtake eCommerce titans overnight, it will help you stand out among similar businesses. You can hence use them as a chance to differentiate your company.
There are no losses:
When you sell a gift card, you enhance your cash flow. Furthermore, no significant investment would be necessary to make a profit.
Brand recognition:
It is generally known that recruiting new clients is more expensive than keeping existing customers. In reality, the option to exchange gift certificates empowers your brand ambassadors to perform the work for you.
How to boost sales with gift cards?
Consider the numerous experiences you can provide clients through your company, and then build gift cards at various pricing points. A gift card with a predetermined value restricts the gift giver’s spending options.
You need an excellent strategy to boost sales with gift cards; we’ve put forth a few for you.
Choose a prominent location
Gift cards are frequently purchased on impulse. Assume you have gift cards on display at a billing counter. Someone will enjoy a wonderful experience at a restaurant or hair salon and might recall recall their mother’s birthday as they wait for billing. Or they may be having trouble choosing a Christmas present and conclude that giving a gift card is more effortless. Customers will be more motivated to purchase gift cards if they are easy to see and purchase.
Distribute them in numerous ways
If you’re just getting started with gift cards, make sure that all of your consumers are aware of them, regardless of how they communicate or purchase. Consider producing channel-tailored unique promotions if you’ve been utilizing this marketing mix for a long. It wouldn’t hurt to make gift cards for specific marketing channels, such as newsletters, social media, and Google advertisements.
Encourage customer loyalty with gift cards
Don’t be fooled into believing that gift cards are solely good for giving. Instead, consider each gift card user as a customer who is sure to spend the amount on the card at your stores. Consider giving someone a gift card instead of refusing their refund if they are past the 30-day return limit or have misplaced their receipt. This not only helps you look more customer-centric, but it also motivates them to return to your establishment. They’ll return the next day and utilize the gift card to make a new purchase in many situations.
Create holiday-themed gift cards
E-cards or gift cards that are beautifully designed and prepared for special events may help you go viral and grab the attention of your target audience.
This was all about the importance of gift cards and how they help boost your sales enormously. So, when are you giving away some gift cards?
