How Gift Cards Can Grow Company Revenue

Gifting someone is not a new thing but, gifting someone in the form of gift cards has become a new trend. Reports say that digital gift card programs have become an inextricable part of retail businesses. If you have not yet made gift cards a part of your business, you are in the right place. Here, we are going to tell you how you can grow your company revenue with the help of gift cards.

Increase The Overall Revenue

You can easily grow company revenue by selling gift cards. But, the best part is that the overall revenue is enhanced when gift cards are redeemed. According to a survey done by First Data, a person spends an additional $38 along with the gift cards while purchasing anything. Moreover, it is seen that shoppers have a tendency to buy highly-priced items when they purchase using gift cards. Well, it happens because they consider gift cards as ‘free money’. According to Retail Touchpoints, 72% of people who go to store for purchasing gift cards for others also buy items for themselves.

Increase The Number Of Customers

Well, you can increase the number of customers by selling gift cards. When someone is purchasing gift cards from your store for others, it means that the person is exposing your business to the people who probably never shopped in your store. It will really grow your business. Moreover, that person might purchase something else while visiting your store for purchasing something using the gifted gift cards.

Well, if you are invited to a fundraising event to make some donation, you can donate gift cards instead of donating money. As a result, you will open the gates of your business for more recipients and there will be a higher chance that they will spend something more while purchasing anything using those gift cards. Ultimately, it will create a solid impression upon others and you can establish yourself as a reputed businessman.

Drive People To Your Website

With the advancement of technology, everything is becoming digital and gift cards are not an exception as well. The craziness for digital gift cards is increasing day by day because of its endless benefits. First of all, the buyer does not need to go to any shop physically. Moreover, it is one of the most convenient ways to purchase gifts for someone. It will make a solid enhancement in the sales as they will make more payments online. Along with it, it will also increase the traffic on your website.

Encourage Loyalty

Encouraging the loyalty of the customers is always considered one of the best strategies for increasing sales. You can simply do it by offering the customers a free $10 gift card whenever they purchase $100 worth of items from your store. It will encourage your customers and they might spend more money through the integrated terminals. Moreover, it will make them repeated customers and the curve of the sales of your business will always be sharp.

Use It to Manage Rewards, Rebates and Returns

Another advantage of using gift cards is that it will help you to manage rewards, rebates, and returns as well. If a customer comes to your store to return something and that person does not have any receipt, in such a scenario, you can offer gift cards. Thus, you can keep his money in your business. Moreover, you can use it as an option for your regular customers if they want anything in return.

If you are a business owner, gift cards allow you to create a solid impression upon your employees. Yes, you can use gift cards as rewards for your employees. You can also offer free gift cards to your VIP customers whenever they come to your poynt terminal to make bill payments or if you are an owner of a restaurant, you can send gift cards along with the pay at table terminal. If you run any loyalty program, you can also include gift cards there.

Compete With Major Retailers

Gift card has become a new trend and it also creates a solid impression upon the customers. Therefore, if you want to compete with other major retailers, you can give your customers gift cards with every purchase. Moreover, if there is any occasion, you can offer your customers something special in the form of gift cards. In order to let your customers know about your gift card offer, you can include this thing in social media campaigns and email marketing.

So, you have probably understood the importance of gift cards and how they can make additional benefits to your business. Now, if you are looking for the best platform that will allow you to run a gift card program, we will suggest you get in touch with International Payment Solution for the best service.

With an MBA Dual Specialization in Finance and Marketing, this is Debanjan Mukherjee from India. I have got more than 7 years of experience in the field of content development and have extensive working experience in top corporate houses like Pwc and Zacks Investment Research. My skill set includes SEO Writing, Content Writing, Blog Writing, Web Content & Research Articles. I believe in taking things to the next level.