Gift cards continue to be one of the most popular and most requested items. With such popularity it is surprising that more merchants don’t offer gift cards at their businesses. This may be a function of the perception of many merchants that only large retailers or big box stores can offer gift cards. This is not true as it is very easy and inexpensive to implement a gift card solution.
So what are the benefits of offering gift cards?
- Money Upfront: Money is received upfront with product and service fulfillment at a letter time.
- Customer Loyalty: Gift cards ensure repeat business as the patron will likely return to redeem the card.
- Increased Customer Base: Most gift cards will be given to friends, family, colleagues or acquaintances, furthering business brand awareness. Additional patrons give you the ability to build on these relationships and forge future business.
- Word-of-Mouth Marketing: Gift card purchases represent an endorsement of your products and services. Most customers that purchase a gift card are excited about the product an service and want others to experience it.
- Purchases Above Face Value of the Card: Studies show that customers typically spent more than the face value of the gift card.
- Lack of Redemption: Not all gift cards get redeemed which results in more revenue toward your bottom line.
Interested in getting a gift card program started? Let us show you how.