One of the most successful – and affordable – sales strategies small businesses use to attract consumers is selling their own branded gift cards. By some estimates, 9-out-of-10 consumers have either purchased or received at least one gift card in the past year – and you may be surprised how many gift cards are purchased outside the traditional retail environment.
Medical and legal practices sell prepaid services. Businesses issue gift cards instead of refunds (where allowed) – which keeps more money in your register.
Community associations, such as chambers of commerce and downtown development authorities, provide gift cards from local businesses to welcome new businesses and homeowners to the community... which act as “coupons” that encourage local shopping.
Partner with other businesses for cross-promotional opportunities using your gift cards as incentives to shop locally.
In addition to selling them as gifts, restaurants and bars use them as “comp cards” if a guest has a less than pleasurable experience – giving you another chance to earn their business.
Creatively use gift cards to promote your business, build your brand and attract new customers:
- Gift cards can generate brand awareness and encourage repeat visits to your store(s)
- Research shows that purchases made with gift cards tend to be 20% to 50% higher than the average purchase at a merchant location
- Approximately 70% of consumers making purchases with gift cards will spend more than the value loaded on the gift card.
And – perhaps best of all – you can start selling your personalized gift cards in as few as two weeks. Plus, they:
- Work on most existing credit card terminals
- Come with an array of easy-to-use reporting tools to help you manage your cards
- Include 24/7 cardholder support that allows consumers to check their balance online