Why are Gift Vouchers important?
Often overlooked by many business, gift vouchers are a great way to give your sales a short term boost. Typically, Gift Vouchers aren’t given much consideration when it comes to companies looking at their sales and marketing. But we are here to tell you why you should!
When your customers purchase a gift voucher, your brand awareness is just beginning. Whoever the recipient is, will then be seeing your brand and hearing about your business. This could potentially be someone who has never used your business before. Let’s say they use the voucher, and speak to others about it – Then you have just created a chain of brand awareness for your business.
Gift vouchers are especially popular around Christmas time, however many of our clients engage in year round gift voucher marketing and sales campaigns. With this in mind, they sell gift vouchers daily, providing a wonderful income stream all year round.
If you are still on the fence, here are some of the reasons we, as business owners should love Gift Vouchers;
1. Attract new customers
Satisfied customers will purchase gift vouchers for their friends and relatives, introducing new customers to your business, who may well do the same.
Gift vouchers encourage people who might not otherwise visit your business to take a look around. This may result in future returns 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 by selling and accepting gift cards
Although gift cards are often set to a specific amount, many customers will end up spending more. 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. Improve customer loyalty
Keep customers coming back to you. It is far cheaper to retain an existing customer than it is to recruit a new one. Perhaps you could reward existing customers who spend a certain amount or even refer a new customer to you. Encourage past customers to come back to you with an incentive voucher. Send a voucher to past enquirers offering them money off vouchers. Show that personal touch by sending a gift voucher to a valued customer on their birthday, or just run a seasonal promotion where you send a voucher to all your customers and set an expiry date on the voucher to encourage quick purchases. Offering incentive vouchers to any customer spending more than money during a fixed period will drive up sales values as customers attempt to reach the spending threshold to gain the voucher.