7 leading benefits of offering gift cards for your businesses
Everyone seems to love gift cards, especially consumers. Gift cards offer seamless convenience to givers. Gift cards recipients are empowered with choice and armed with an easy payment method.
Businesses have even more reasons to love gift cards. Businesses everywhere use gift cards as an effective marketing tool to raise awareness and grow sales. Adding gift cards to your marketing mix engages customers and keeps them coming back.
A September 2018 report by Mercator Advisory Group estimates the total loads on open-loop gift cards will reach $22 billion in 2019 in the US alone. Is your business ready to take advantage?
Gift card programs are easy to implement and affordable for businesses of all sizes. Consider these seven ways gift cards can benefit your business.
…build brand awareness
Gift cards are a cost-effective advertising vehicle that helps your business gain top-of-mind presence. Traditional plastic cards offer wallet-sized advertisements to share your company’s messaging, and they cost a lot less than a life-size billboard. Online gift giving opportunities expose your business to additional consumers.
…capture more holiday sales
Holiday sales rushes aren’t for traditional retail businesses anymore. Gift cards allow all types of businesses to catch the holiday spirit. From gym memberships to car wash subscriptions, lawn mowing to salon services, gift card programs make the holidays brighter for everyone.
…enable customer engagement
A connection with a customer may start with a gift card, but hopefully it doesn’t end there. Gift card programs open doors to deeper customer engagement and additional marketing opportunities. Gift givers are engaged as ambassadors of your brand, while gift recipients engage feeling uplifted.
…generate useful data
Gift cards open doors that allow you to serve your customers more effectively. Gift cards can help you collect vital data that can help you better understand your market. Gift cards can be linked to online registrations, allowing your customers to communicate their preferences so you can better serve them.
…are safe and convenient
Traditional paper gift certificates enjoyed a long run of popularity and remain viable at small scale. Yet today’s gift cards are safer and more convenient than paper certificates that were vulnerable to loss, theft, or fraud from duplication. As for convenience, you can accept gift cards the same ways you accept credit and debit cards whether online, in-app or in-store.
…offer easy distribution
Gift cards make for extremely cost-effective use of space in store. Beyond your own store, gift card malls expose your brand to even more potential customers. Worldpay offers gift card distribution in popular gift card malls, placing your cards alongside well-known brands in leading retail stores.
…improve cash flow
Gift card programs can improve cash flow especially versus other marketing techniques. Traditional marketing strategies with strong demonstrated return on investment take time to result in sales. Selling gift cards allows you to generate revenue in advance of providing products or services.
Explore Worldpay Gift
Worldpay Gift is a complete product line for your business, enabling a wealth of promotional capabilities and marketing advantages. Gift delivers everything you need to help generate new revenue, increase brand exposure and easily manage gift card sales. Click here to explore more.
Ready to discuss Worldpay Gift? Contact one of our payments experts today.