With the holidays approaching, gift cards are always a great and easy gift to give, whether you’re in a rush to find something for a friend or want a family member to be able to purchase from their favorite store. Acquiring gift cards specifically for your business is also a great option and provides many benefits! Pre-planning for these business gift cards are a smart move to get ahead of the game. Getting a head start not only allows you to customize them to your company's liking, but guarantees that your company is ready to sell them in time for the holiday rush. Below we’ve listed some ways in which gift cards can be a key asset for your business.
1. Gain New Clients: Current clients can spread the word to their friends and family by purchasing gift cards as gift! Gift cards provide new customer potential because if given a gift card from your business, the receiver will be forced to browse and see what you offer.
2. Improve Customer Loyalty: By offering rewards and incentives your customers will turn into happy repeat customers. These can be gained through using gift cards.
3. Increased Sales: When given a gift card, customers are more likely to shop around until they spend their entire gift card, allowing them to have a better idea of all the products your business offers. Unused balances on gift cards are essentially wasted money, so customers prefer to spend it all. Oftentimes when customers get shopping their selection exceeds the amount on their gift card, too.
4. Brand Image: Gift cards allow an opportunity for your company to get creative, along with really getting your business name and logo out there. If customers purchase your cards, then the logo or picture you choose will mostly likely be in their wallet, with them wherever they go, and available for anyone to see. This repetition will really drive home your branding. The design you choose is significant as it can show off another side of your company!
5. New Avenues: When most people think of giving gift cards, they only relate it to brick-and-mortar, product-based stores, but gift cards can actually be great for any company. Many service-based companies are now offering gift cards. For example, gift cards open new channels for businesses like accounting, and financing firms that you wouldn’t immediately associate with gift cards. It's a great way for these companies to offer discounts or deals for services they may provide.