Here's a quick, six question assessment to see if your business could benefit from gift card processing and acceptance. Gift cards can help increase foot traffic as well as sales for merchants across many verticals and of all sizes. Vantiv research shows that 2/3 of gift card holders spend 38% more than the value of their gift cards with you. The same findings indicate that 55% of gift card bearers visit a store location more than once to deplete the value of a gift card. Gift card-centered promotions also can help increase customer activity at store openings, events, holiday periods and even during slow times of the year.
Ask yourself these six questions:
1. Is increasing foot traffic important to your business?
Well, for every gift card purchased at least two people visit your business—the giver and the recipient. And Vantiv research indicates that 55% of gift card holders visit your business more than once.
2. Introducing new products? Opening a new location? Hosting a special event?
Gift cards and gift card promotional services, like those available from Vantiv Integrated Payments, can add to a powerful draw associated with what's new at your business.
3. Do you have known slow-periods or are you a seasonal business?
Gift card-centered promotions can help you drive customers in during known slow periods or they can help you kick-off your season and keep customer traffic flowing in over the life of your open season.
4. Struggling to build a loyal customer base?
Reloadable gift cards are a way to thank loyal customers. Gift card promotions can also foster visits and purchase.
5. Need an effective tool in customer service that also helps increase traffic?
What if you want to recognize a special customer on the spot? What if you want to say "thanks for understanding" for a service slip-up, or out-of-stock product? These are among the many uses of gift cards. Give your customers a wow to make sure they come back.
6. Want to differentiate yourself from your competition?
Even the smallest of businesses can make a big statement by offering gift cards. Consumers love them. Your favorite customers might want to share their joy with others. Accepting gift cards, in all their forms, offer advantages over the traditional paper gift certificates or punch-cards still used by many businesses today. Gift cards also give you the power of recognizing others, customers, employees and in a way that can differentiate you from the competition.
If you answered YES to any of the above, then it’s time you considered offering custom gift cards. And, now is the time to investigate gift card options for your business.