Selling gift cards for your business
Tips / 18.09.2020
- Benefits of gift cards
- Types of gift card programs to choose from
- Some ways of maximising your gift card program
- How to get gift cards made for your business
From carpet cleaning to high-end retailers, or even putting fuel in the tank, a gift card makes for a superb gift!
Many businesses are taking advantage of this great marketing opportunity, and if you’ve ever asked yourself how do I sell gift cards for my business, this blog post is for you.
Benefits of gift cards
Before starting to offer gift cards for your product or service offering, you might be wondering what their benefits are.
Let’s take a closer look at some of them.
1. Brand advertising and awareness
Because your gift cards are specially branded for your business, whenever a customer purchases one from you or a customer walks into your shop with one in their wallets, these essentially make for “mini-sized” billboards in a wallet or purse.
This type of advertising is excellent for your business, and it has the potential to increase and improve brand awareness and recall, too.
2. Increased sales and revenue
Gift cards are usually preloaded with a certain amount of money.
However, in most instances, shoppers with a gift card in hand often shop for a value higher than that on the card, ultimately paying in the difference using cash.
This is a great incentive for any business which seeks to cross- or up-sell a product or a service.
It leads to increased sales, and ultimately, increased revenue.
3. Better customer loyalty
The use of gift cards also has the potential to boost customer loyalty, as a customer is more likely to visit your business and purchase from you if they have your gift card.
This is an ideal situation for first-time visitors as it’s your opportunity to make a great first impression on them, ensuring that they return for more.
4. Great gifts for the holidays
There’s a wide range of statistics on the Internet regarding how many gift cards have been given as gifts. Some indicate that the figures go as high as 90%.
Gift cards offer an individual a lot of choice and variety to select their gift on their own, thereby reducing the need for uncomfortable conversations and unpleasant returns.
5. Good for younger shoppers
Gift cards are also well-suited for younger shoppers, whose parents are teaching them the value of money.
By staying within the means on the gift card, the young shopper will be able to make an informed decision about the purchase, whether it’s necessary or not, what type of gift it will make (if relevant) and whether this is within budget.
6. Better safety than cash
The number of people carrying cash is declining significantly with most opting for digital or card solutions.
In this tech-savvy age and environment, carrying a gift card is much safer than cash.
Losing a gift card means you can call and have it replaced, whereas the chances of getting lost cash back are slim to none.
7. Generate useful data
Finally, gift cards can help you generate useful data about your customers.
From gleaning insights such as their shopping habits to their maximum and minimum spending at your business, you can discern a lot about your customers, especially if your gift cards are integrated within your POS system (more on this below).
Types of gift card programs to choose from
Gift cards primarily come in two types: closed-loop and open-loop.
Whereas the former can only be used at a certain location, like your business, the latter can be used at multiple businesses, unless specifically restricted.
Some ways of maximising your gift card program
Advertise your gift cards
Most major retailers offer gift cards, and for good reason.
They’re effective marketing tools. Advertise them as much as you can!
Putting signage on your doors, placing them on your counter, or even your website will help give them visibility. But don’t stop there!
Add links to digital gift cards in your newsletter and raise awareness about it there, too.
Have it ready to gift
An envelope, a ribbon, a card – all of these small touches can help your gift card be ready to be gifted.
It can be seen as a complete, presentation-ready gift.
How to get gift cards made for your business
You truly can skyrocket your sales with myPOS Private Label GiftCards! Want to know how? It’s easy!
- Step 1: Create your branded GiftCards by logging in to your myPOS account. Go to Merchant Services > GiftCards. Select your design, add your company name and details and place the order. You’ll get your cards within 3-5 business days.
- Step 2: Load the cards with cash by using your myPOS card machine. Navigate to the GiftCard menu, enter the right amount and swipe the card.
- Step 3: Sell and track the results including sales, card usage and outstanding balances – all through your account.
That’s a “wrap” (pun intended)!
An innovative offering, gift cards can often make for the perfect gift.
There are many benefits to offering these at your shop or service-based business.
They’re also easy to load and sell, and you can easily track the results all through your myPOS account.
Don’t hesitate and order your GiftCards today!