A great way to acquire new customers while retaining the loyal ones is to set up a gift and loyalty card program. The many benefits of the gift and loyalty card are often overlooked by merchants. For retail stores and special-service businesses, such as bookstores and day spas, gift cards are extremely effective marketing tools that can be displayed at the cash register or front desk for easy access. Below, find more benefits of gift cards.
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1. Attract New Customers
Gift cards are usually effective at a business accepting credit cards for products or services that most people want or need –Gift cards encourage people who might not otherwise visit your business to take a look around and likely return to make additional purchases.
2. Increase Brand Awareness
When your gift card is designed to match your company logo and brand, it essentially works as a marketing tool in the customer’s pocket. As people purchase more gift cards to give to their friends on birthdays and holidays, your brand continues to be dispersed among new customers.
3. Improve Sales
The gift card encourages customers to enter the store and browse products. Once they’ve started shopping, it is likely that they’ll end up finding a product that costs slightly more than the gift card’s value. Paying only a fraction of the price is still better than paying in full, and your customer will leave satisfied.
4. Increase Repeat Business and Build Loyalty
A loyalty program rewards your customers with points for each dollar spent at your establishment. Customers can redeem these points for products or services at your discretion.
Did you know?
⦁ Over $100 billion is spent on Gift Cards annually
⦁ 72% of customers will spend MORE than the value of their card
⦁ On average the recipient will spend 20% MORE than their gift card value
⦁ 90% of gift cards are used within the first 60 days
The gift and loyalty card option is a merchant processing service that you shouldn’t pass up. Learn more about how you can start a small business gift card program today!