Why Gift Cards Are Great For Your Business
In this modern, technologically advanced world, there are a lot of ways to promote and sell your business but going the extra mile has become a necessity in order to keep up with the competition. Fortunately, a lot of business owners are up with the challenge. There are those who carry out different marketing techniques online to reach out to wider audience, and there are those who do such an approach with a traditional touch by trying to sell gift cards online.
Experts say gift cards make a great tool in marketing any business regardless of its size and type. Such tool is fit for all. Still unconvinced? After rigorous analysis, here are the reasons why gift cards are a powerful tool for any business:
- Easy to Produce and Distribute
Most marketing efforts are complex and would take time to implement. At times, hiring additional staff to create elaborate displays can be necessary. The marketing stunt may even require strategic location in order to successfully get the message across to potential customers. Unfortunately, all these sacrifices do not guarantee positive response. There is still that possibility that customers will not pay attention to your costly effort. The good news is gift cards offer an easier, less costly way to make your business offerings an eye catcher. It does the job all the same but with less hassle on your part. For instance, you can simply display gift cards near your front desk or cash registers, in which case you easily target impulsive buyers.
With gift cards being so cheap and easy to produce and distribute, any businessman must not be afraid to try using them out. You can take the traditional way and go through the steps toward distribution or you can simply have a graphic artist design your gift card and have a professional distribute it online; people call it e-gift card. It can even be attached into your promotional mails. The goal here is to lure your customers to buy something from your business through it. Because more often than not, as your recipient finally uses your gift card, he will tend to shop more than your gift card’s value. Smart, eh?
- Gift cards offer new, non-boring approach to promote a business.
Gift cards are a great way to offer a different, much more exciting approach to promote your business and they are easy to customize. For instance, companies can easily change the design of their gift cards to make it relevant to current occasions or holidays. You can actually make it appear more pleasing by adding a large box with a fancy wrapping.
Here’s a fun fact: gift cards pretty much work the same as coupons, just that they sound more thrilling than the latter. That said, you can actually offer free gift card after the customer reaches a certain amount of purchase and enjoy the potential savings instead of giving out 20% discount to your customer which hurts a lot for large purchases. In the long run, you saved and pleased your customers at the same time by gifting them.
- Gift cards will help you boost your brand inexpensively.
Businessmen are naturally to take all steps to stand out in the competition even if it means spending a lot for brand boosting. The good news is gift cards do the wonders without requiring a huge amount of investment. It only takes beautifully and appropriately designed gift cards and strategically distributing them to increase brand awareness. For instance, if you want to promote your restaurant, incorporate what you can offer to your gift card and make your recipients salivate.
Basically, your gift card has to display your company name and logo. Not only this reaches your customers, other people in their networks may also get to come across it – people who can be your potential customers too.
- Gift cards easily convert people into new customers.
Naturally, businesses do not stop only in making current customers happy. All marketing efforts are not centered to that alone; they are also there to earn new customers. The good news is gift cards can do the job right. There tends to be a domino effect when existing customers who receive gift cards during special occasions or holidays spread the news to their friends who can turn into potential customers too. The power of word-of-mouth marketing is there and it never disappoints, making indirect endorsement that holds weight.
- Gift cards make less room for frauds.
Most return policies are victimized by fraud. Gift cards can help revamp these policies, making them less costly and hassle for the business owner’s part. A popular style nowadays is done by issuing a gift card for returns instead of cash. This way, silly customers will be forced to pick a replacement item instead of making the return their source of income.
Another good reason why gift cards serve as great return slips is because the potential earning still revolves within the establishment by forcing the customer to spend the gift card at the store. It eventually becomes a sure income for the business.
Along with these promotional benefits, gift cards can also serve as a tool for good will. Once people notice it, the level of respect from customers out of branding efforts will go to another level. You can easily sell your gift cards and give a certain percentage of the proceeds to charitable institutions as a sort of donation. With this, you will be able to advertise your business while helping the needy at the same time. And people who buy your gift cards will feel blessed by supporting your kind cause.
There is no doubt how businesses of all types and sizes have discovered amazing ways to market their business through gift cards. Sans having to spend too much, all types of businesses, whether product-based or service-based will surely reap the benefits of creating new, profitable relationships with their old and new customers. With all this, gift cards are definitely a must try.