12:00 AM, 08 23, 2016

How To Make More Sales Using Gift Cards

 

Are you looking for a way to be a true leader in your sector? Whatever you sell, from business solutions to boats, sofas to ski trips – a Gift Card is a smart way to entice more customers in. Have you ever considered using them?  

You might think that Gift cards are just there to be used as a promotion tool by the stores who offer them, but as a business, you can purchase bulk gift cards for almost any retailer and use them to your advantage!

The great news is, this is still quite an untapped resource. Whilst Gift Cards are top of mind for employee rewards and consumer gifts, it’s only the savvy businesses who are using Gift Cards as an incentive to purchase. You will absolutely be able to think of lots of businesses who are offering ‘10% off the next purchase’ or quick sale promos, but these feel like a sales pitch. In contrast, a promotional gift card truly feels like a gift, and, because of this can easily help your company stand out in the market.

Here’s how it works.


1. Purchase or earmark a budget for Gift Cards that would work for you.

If you sell garden tools, maybe a restaurant card would be a nice gift that could benefit the whole family responsible for the purchase? If you are a business solution selling B2B, what about a gift card that would allow the business to order a hamper, or an experience day for key decision makers? There are lots of great ways to tie in a gift card with what you sell.


2. Start marketing your Gift Card promotion

You might want to consider changing your email signatures, your website, your order confirmation and putting posts on social media. Here are some examples:

• Buy between now and X date and get a £X Gift card for x retailer

• Spend over £x and get a free Gift Card worth £X for X retailer

• Come back again in the month and get a free Gift card for X retailer worth £X

• Spend £20 and get a £5 Gift Card - spend £50 and get a £25 Gift card

(Obviously, you’ll want to take your margins into account!)


3. Track your data for a clear vision of ROI

Experiment with who you want to target. You can use your CRM to identify big spenders, loyal customers who have gone quiet, or people who have never committed to purchasing from you.

Ensure you log every person who takes up your campaign and how much of an incremental spend they made so you can really see the benefits and the full ROI. You might also want to take a baseline and look at website traffic, social media attributed visits, social media ‘likes’ or retweets, email newsletter sign up. (Most of this can be tracked through Google Analytics.) 

It’s clear that with a little time and some clever planning around margins, target audience and investment, Gift Cards can bring you more business!

Don’t forget the power of advocacy- people love a freebie and they like to share good news. Make your Gift Cards exciting and a great deal. Don’t forget that you may need to speculate to accumulate, so it might mean your first campaign acts as a loss leader with a view that you make the very most of email marketing and other tactics afterwards to ensure the whole promotion is maximised over the long run.

Have you tried using Gift Cards as a sales and marketing promotion? 

How did it work? 



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