How To Increase Sales With Gift Cards

1. How To Increase Sales With Gift Cards Without
2. How To Increase Sales With Gift Cards For A
3. How To Increase Sales With Gift Cards For Cash
4. How To Increase Sales With Gift Cards Balance

Everybody loves a gift card. For the recipient, it's something special to swipe or scan for a celebratory experience. For the buyer, it's a convenient gift-giving option that doesn't entail driving all over town or purchasing a costly product destined to be returned or exchanged. For the merchant, it's an invaluable opportunity to generate revenue instantly, whether the card gets redeemed or not. In short, everybody wins. But that begs the question, how does a local business optimize their selling process to increase gift card sales? Let's take a look.

1. Online, All the Time: Leverage Your Website to Offer Gift Cards
Think of your website as a 24/7 extension of your business. A place where your customers can find out more information on what you have to offer, book a visit or special event, and ideally, purchase a gift card. If you're not already selling gift cards on your site, giving your customers an option to buy outside of your physical location is an effortless method for advancing your sales by simply increasing visibility. At Hownd, we assist business owners by giving them the option of deploying gift card promos as website plugins (pop-ups). In addition to giving the visitor more incentive to increase the time spent on your site, a gift card plugin encourages them to conveniently buy right on the spot, effectively monetizing your website

2. Kind of a Big Deal: Offer Discounted Gift Card Promotions

Whether it's a 'Buy a $50 Gift Card, Get $10 in Bonus Value' or a 'Buy One $25 Gift Card, Get One $25 Gift Card Free' promotion, nothing is quite like getting more for your money from a buying perspective. Consumers love a deal, and gift card promotions entice them not only for others, but for themselves as well. A recent gift card consumer report from The Blackhawk Network revealed that 78% of consumers surveyed said they would purchase a gift card for themselves if they were offered a discount. The better the discount, the better the results, so aim to offer savings of around 20-30%.

3. Good Timing: Leverage Your Email List to Deliver Gift Cards at the Right Time

Face it, your customers' inboxes deserve better. Making gift card promotions a major part of your holiday marketing push gives them the option to stock up and cross off every name on their list. Be it for their families, employees, or friends, sending the right offer, at the right time, to the right person makes it simple for the consumer to secure a meaningful gift without spending a second in a busy mall. Additionally, an email gift card push shouldn't just be limited to the holiday season. Consider similar strategies to send for Valentine's Day, Father's Day, Mother's Day, and even special events like during high school or graduation season in late May and early June.

Interested in learning more and getting your first gift card promo off the ground with Hownd? Click here!

Gift cards are fantastic for both the customer and the business selling the gift cards. You can read more about how retailers can benefit from gift card sales in the article, The Power of Gift Cards for Your Company. Gift cards are a quick and easy choice for shoppers, especially when shoppers are having a difficult time finding the ‘perfect. Want to grow your gift card sales this holiday season? Check out our expert tips to sell more gift cards, create more loyalty, and get more clients. We're here to support you during COVID-19! 50% off selected plan! The Power Of Gift Card Marketing: How And Why It's So Effective. Gift card marketing is where you offer and promote gift cards as a way of accessing your product or service. It's a (relatively) passive form of marketing that allows you to: Convert more customers. Reach a larger audience. Increase customer referrals. According to the article '10 Awesome Tips for Using Gift Cards to Boost Your Holiday Sales' by contributor Rieva Lesonsky on smallbiztrends.com, gift cards are no longer just an option for major retailers to offer. 'In fact, a new study reports, half of U.S. Consumers are very open to buying gift cards from small, independent retailers. This introduces them to your brand and products. With incentives for the giver such as 'Buy a gift card and get a $10 credit for yourself' or an incentive for the receiver such as 'Use the gift card by a certain date to receive a 15% discount,' both parties can be rewarded and encouraged to return. Ready to increase sales with gift cards?

Gift cards are an easy way to attract new customers, get money in advance, forge stronger relationships with the existing customers, and so on. You might wonder if it is even possible for small businesses to use gift cards successfully. We have answered the same in this article.

Here is how small businesses can increase sales with gift cards:

Stand apart from peers:

How many small businesses can boast of having a gift card? The answer will be zero, more often than you think. When none of your immediate competitors offer gift cards for their customers, you will look more attractive in the eyes of your target market. Your prospective customers are thinking-'This store looks like an attractive option since they care enough to get gift cards printed. Maybe the products there are of much better quality too.'

The simple fact that you offer gift cards will change the attitude of your prospective customer about you. Your audience will think that you are a much bigger brand than you are. When it comes to marketing, isn't it all about perception?

Compete with bigger brands:

How To Increase Sales With Gift Cards Without

One advantage that a small business has over a bigger brand is that the former feels more personal and special. A gift card from a Walmart pales in comparison to a gift card from your best friend's favorite store that she loves dearly. The recipient feels special and realizes that it is a well thought out gift.

When a customer walks into a small store, they aren't expecting to see gift cards; this is why you need to display them prominently in different places in the store as well as on signages everywhere.

Increases order size:

Did you know that every time someone gets a gift card, they end up spending more than the value of what is there on the gift card? Let's say you get a gift card for $100. You spend $70 on your first visit, and since you have $30 more, you plan to visit again. During your second visit, you are attracted to a $50 product, so you extinguish your credits and pay an additional $20 out of your pocket. This is what happens with regularity.

Issue gift cards in higher denominations, which will influence the shopper also to buy more when they are trying to use up the credits in it.

Market them across different channels:

Ensure that you spread the word to your immediate circle of customers that you have launched a gift card for your store. Most of them would be happy to check out your card and might even be open to spreading the word about it. This will result in a few people coming to your store, thus increasing the sales without much effort. It would be best if you also communicated about the presence of gift cards on all platforms.

It helps with after-holiday sales:

Most customers purchase gift cards during the holiday season. Why? Because they use it as a gift to their friends and family. These gift cards are usually used after the holidays. After the holidays, there is a lull in retail stores because there will be very few customers. When your gift card recipients start popping in, not only will you see more people in the store, but they are also more likely to spend more money than what is there on the card.

Offer unprecedented value:

If you want to make gift cards more attractive to the average customer who walks into your store, online or otherwise, then offer more value than what is there on the card. Let's say that the customer is looking at buying a $100 gift card; then you can offer them $110 or give them a freebie like free maintenance or repair or something that increases its intrinsic value.

Hold contests:

Stand apart from peers:

How many small businesses can boast of having a gift card? The answer will be zero, more often than you think. When none of your immediate competitors offer gift cards for their customers, you will look more attractive in the eyes of your target market. Your prospective customers are thinking-'This store looks like an attractive option since they care enough to get gift cards printed. Maybe the products there are of much better quality too.'

The simple fact that you offer gift cards will change the attitude of your prospective customer about you. Your audience will think that you are a much bigger brand than you are. When it comes to marketing, isn't it all about perception?

Compete with bigger brands:

How To Increase Sales With Gift Cards Without

One advantage that a small business has over a bigger brand is that the former feels more personal and special. A gift card from a Walmart pales in comparison to a gift card from your best friend's favorite store that she loves dearly. The recipient feels special and realizes that it is a well thought out gift.

When a customer walks into a small store, they aren't expecting to see gift cards; this is why you need to display them prominently in different places in the store as well as on signages everywhere.

Increases order size:

Did you know that every time someone gets a gift card, they end up spending more than the value of what is there on the gift card? Let's say you get a gift card for $100. You spend $70 on your first visit, and since you have $30 more, you plan to visit again. During your second visit, you are attracted to a $50 product, so you extinguish your credits and pay an additional $20 out of your pocket. This is what happens with regularity.

Issue gift cards in higher denominations, which will influence the shopper also to buy more when they are trying to use up the credits in it.

Market them across different channels:

Ensure that you spread the word to your immediate circle of customers that you have launched a gift card for your store. Most of them would be happy to check out your card and might even be open to spreading the word about it. This will result in a few people coming to your store, thus increasing the sales without much effort. It would be best if you also communicated about the presence of gift cards on all platforms.

It helps with after-holiday sales:

Most customers purchase gift cards during the holiday season. Why? Because they use it as a gift to their friends and family. These gift cards are usually used after the holidays. After the holidays, there is a lull in retail stores because there will be very few customers. When your gift card recipients start popping in, not only will you see more people in the store, but they are also more likely to spend more money than what is there on the card.

Offer unprecedented value:

If you want to make gift cards more attractive to the average customer who walks into your store, online or otherwise, then offer more value than what is there on the card. Let's say that the customer is looking at buying a $100 gift card; then you can offer them $110 or give them a freebie like free maintenance or repair or something that increases its intrinsic value.

Hold contests:

Use contests for all your gift card customers by entering them into a contest as soon as they buy one. You do not have to give away a prize that is expensive or offer anything that is beyond what is necessary. Maybe a bundled package or a special discount offer is more than enough. Create enough interest surrounding your gift card and the corresponding offer. Even people who were not looking to purchase the gift card will be tempted to do so.

How To Increase Sales With Gift Cards For A

Sell holiday-themed gift cards:

Gift cards are synonymous with holidays. So why not create a New Year special gift card? Or you can even create a gift card that is themed based on the city where your store is. It will be even more special for the residents of the place. Residents and tourists alike will keep the gift card as a souvenir. The only thing you need to do apart from marketing it wisely is that you need to tell people that they can use the gift cards even after the holidays are over.

Conclusion:

How To Increase Sales With Gift Cards For Cash

Now that you understand how big gift cards can be for a small business, it is better if you can add them to your offerings soon. Gift cards are an easy way to meet the demands of the customers and keep them happy.

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Gift cards are a win-win for the retailer and the customer. It offers convenience for the latter, while it offers a multitude of benefits for the former. For small businesses looking for an easy way to get more sales, gift cards are one of the best options out there. Provide an incredible experience for your customers, create the right kind of gift cards that are attractive and aesthetically pleasing, and you will see the cash registers rolling.

How To Increase Sales With Gift Cards Balance

If you don't have a gift card system in place, let the folks at 99minds help you with it.