From increasing your sales to improving your business relationships, we discuss the ways of using business gift cards for your small business is a good idea
Gift cards are the most requested present during the holidays.
If your business doesn’t offer gift cards, then you are missing out on tons of potential business.
Keep reading to learn how business gift cards are a great way to increase sales.
1. Acquire New Customers
More than 10 % of gift card recipients have never (or rarely) visited a merchant’s location before receiving a gift card.
Because no one is throwing away “free” money, the gift card recipient will redeem the gift card.
This gives you the opportunity to win over a new customer.
For example, Sally receives a gift card from her aunt to try a new nail salon. Sally redeems her gift card for a manicure and loves the work done by the nail technician. She begins to return to this nail salon from now on for her self care needs.
One single gift card gave you an upfront sale and a recurring customer.
2. Increase the Price per Sale
72% of customers spend more than the value of their gift card.
When redeeming their gift card, 25% purchased an item they had not planned to spend money on and 8% bought a more expensive version of an item they already planned to buy.
Maybe John wanted a new blender worth $80, but he didn’t have the extra cash. On his birthday he received a gift card to a local appliance store for $50. Since he had the extra $50 already, he went ahead and upgraded to the $100 blender.
Many consumer view gift cards as a discount or free money, encouraging them to spend more.
3. Create Engagement
Gift cards can create engagement within your local and online community.
You can create raffle contests in your community and giveaways online.
There are eye-catching gift certificates templates from Adobe Spark that are perfect for social media.
Creating social media engagement is a great way to increase sales.
4. Decrease Returned Merchandise
During 2017, the holiday season saw 28 percent of the gifts people purchased returned, at a value of $90 billion.
Processing returns can be both time-consuming and expensive since this involves restocking inventory and determining how to credit funds back to the customers, which can result in chargebacks.
Allowing people to select their own gifts minimizes the potential of returns which will save your business money.
5. Compete with Other Businesses
All large retailers offer gift cards to many different businesses because they understand that consumers value convenience.
Gift cards are perfect for last-minute shopping or those office parties when you don’t actually know the receiver.
To compete with these businesses, your local business also needs to offer gift cards.
They should be visible in your store and online.
You can also collaborate with other business owners in your niche. For example, you could place gift cards to your smoothie company in a local gym facility and vice versa.
This is a great way to create valuable business relationships in addition to staying competitive.
Get Your Business Gift Cards Today!
Getting your business gift cards should be a priority, as consumers spend millions of dollars in this category each year.
Don’t miss another dollar and orders yours today!