It remains less than 100 days before the most beautiful time of the year. That’s great, is not it? But for many clients, it may also be stressful as they begin to think about the “perfect gifts” to offer to family and friends. This can be a dilemma, because if most people need money, it is clearly not possible to give it because it is too “impersonal”. It is for this reason that many people turn to gift cards. They are personalized, practical and as useful as money for the person to whom they are offered.
If you are a merchant but still have Vanilla Visa Gift Card Balance in place, it is time to change that and reap the benefits before the holiday season begins. Not only will you improve your bottom line and win new customers, but you will also maintain loyalty to your brand and make more money.
To help you get started, let’s take a look at the benefits of setting up a gift card program and give you useful tips on how to start a gift card program.
Are you ready to make more money during the holidays?
According to research from the National Retail Federation (NRF) dating from 2016, gift card sales thrive in November and December.
Increase in customer loyalty
Offering gift cards implies that customers are likely to come to your store more than once to spend the money available on their cards. Gift cards are a direct call to action. It is also a way for loyal customers or brand supporters to show their interest in your business to their family and friends by recommending them to them. If customers are satisfied with their experience in your store, they will keep coming back, especially if you convert them with loyalty and rewards.
Acquisition of new customers
Gift cards can also be a recommendation to a new customer, with the “obligation” to buy from you. When a customer offers a gift card to a friend who has never been to your store, he gives them a reason to buy from you. Gift cards can help to promote your brand and generate interest from non-customers. 55% of people receiving a gift card go to the store in question more than once to use the full amount available on the card. And if they like your store, they are likely to come back.
Increased profits and increased sales
There are so many financial benefits associated with gift cards. Once you sell one, it means that the person receiving the card will have to spend the money in your store. If she does not, you have made money without doing anything. If the card is used, more often than not, customers spend more on a transaction than the amount available on the card. According to giftcards.com, people spend nearly 20% more than the value of their gift card. Also remember that by selling gift cards, you earn money in advance, which can be very important during the holiday season when costs increase.
Measurability of fidelity
Electronic gift cards also measure customer loyalty and record transactions more efficiently. There are many electronic payment systems that allow you and your customers to keep track of online and in-store data. They also allow better conversion and targeting because you can track purchases and uses of the map.