The holidays are almost upon us! If you’re not quite sure exactly how that happened, you’re not alone (wasn’t it August just the other day?). The good news is that winter brings a season of giving, which is the perfect opportunity to start issuing some gift cards.
Gift cards are great for a number of reasons. They’re easy to track, they act as advertising for your business, and they’re almost always redeemed for more than they’re worth. If you’re looking to attract more local customers, they’re a great marketing strategy to try.
Want to jump in straight away? Give our team a call.
Gift cards make conversions effortless
Normally, when you roll out a marketing strategy, you work hard to generate leads. Then you work hard to convert leads. Then you work hard to turn those conversions into loyal customers. It’s an active process that requires an ongoing effort. But what if you didn’t have to try so hard? What if new customers just started walking into the door? It sounds like a dream scenario, right?
That’s what gift cards can do for you. The oldest and best form of marketing is word of mouth, and that means it’s critical to give your customers such a great experience that they recommend your products or services to their friends and family. Gift cards take it to the next level, however, because it means your loyal customers are putting their money behind their mouth. They’re telling their friends and family that your shop or restaurant is so good they’ll happily pay for your meal.
This builds trust, and it means the customer base you’ve worked so hard to grow and retain are now generating and converting leads on your behalf. It’s a beautiful thing. On top of that, since it’s a gift, your new customers will already be in a positive frame of mind and ready to have a great time. All that’s left to do is give them such a good experience they come back for more.
Why gift cards are effective marketing
There are many reasons why gift cards make good business sense.
At the top of the list is the fact that gift cards are a marketing strategy that won’t cut into your profits. They only need a small investment, and once you’ve got your POS system set up to accept them, customers will pay for them up-front. This can be great for your cash flow! On top of that, about two-thirds of gift card recipients will spent almost 40% more than the value of the gift card when they visit your business. Remember we said about making conversions effortless?
The second reason gift cards are so great is because the increase brand awareness in your local area. Even if it takes a while for the recipient to redeem it, there’s a good chance it’s stuck on the door of their refrigerator, reminding them about your business every time they grab some creamer for their coffee. This will ensure you’re top of mind the next time they need your products or services. It’s like a neighborhood flyer drop, except it’s delivered directly to your target customers.
Since you’re a savvy business-person, you’ll already know that the third reason gift cards are so wonderful is because they offer great opportunities to up-sell. You can get them to sign up to your loyalty program, and then keep them posted about any promotions or special offers you’re running that they might like. You can also track analytics to see exactly how well they work for you.
Getting started with gift cards
If you’re interested in rolling out gift cards these holidays, give us a call. Partnering with Cornerstone Credit Services means all your credit, debit, and gift card processing needs will be covered. We offer a number of products designed to address the specific needs of your business, our friendly local team is always available to answer questions, and we’re excited to spread some holiday cheer.
What are you waiting for? Let’s get started.