Gift cards can work wonders for businesses. Unfortunately, many small businesses do not have a gift card system setup despite all of the excellent benefits. Here are a few reasons why gift cards are great…

Forward Cash Flow

 

Gift cards mean money up front. You make the sale before any costs are incurred, win! This can really help in particularly slow periods. In some cases, gift cards may expire or never be redeemed which means you get to keep the funds.

 

Increase Traffic

 

Gift cards boost traffic in more ways than one. First, every gift cards solds mean two customers through the door – the loyal patron who bought the card and the future patron who receives it! In many cases, gift card recipients have never or infrequently visited your business, so you are essentially getting paid to gain to business!  Plus if your gift cards are reloadable, you can turn a first time buyer into a loyal, pre-paying, regular customer.

 

Higher Sales

 

Gift card are often considered free money so customers who pay with gift cards aren’t as sensitive to price and end up spending more. Two out of three gift card users will spend close to 40% more than the gift cards value.

Customer Convenience

 

Gift cards a quick and easy way to buy, pay, or get someone the perfect gift. Especially during holidays, when many people are looking for stocking stuffers, secret santa gifts for coworkers, and thoughtful gifts for extended family, gift cards are a convenient way to get that special someone exactly what they want.

 

Brand Awareness

 

Gift cards are like mini-billboards! They keep your business front-of-mind and boost word of mouth amongst loyal and future customers.

 

Build Relationships

 

Using innovative systems like Rewardle, gift cards can be used to connect with your customers, collect data on their patronage, and communicate with them to strengthen your relationship and make future sales. Having access to analytics on your customers alsos you to target your marketing activities, make smart business decisions, and boost sales short- and long-term.

 

Did you know you can use your Rewardle system to create gift cards?

To learn more about how to use gift cards and pre-pay for your business, get in touch with our Success Team.

 

 

Statistics cited from:  

https://due.com/blog/7-reasons-to-accept-or-offer-gift-cards-for-your-business/

https://www.vantiv.com/vantage-point/smarter-payments/gift-cards-for-your-business