You’ve probably been on the receiving end of this hugely effective retail tool. We’re talking about gift cards that brands and businesses of all kinds sell. If you sell products in a retail capacity, then it’s a practice you should already be using. If you’re not, we’re going to show you why targeting gift-givers can be one of the best steps your business has ever taken.
You’re building off existing love
People will normally buy gift cards specifically for those they know will already enjoy the products you offer. It builds off an existing love of your products, or perhaps the lifestyle image that your brand promotes. It all goes back to the origin. Initially, gift cards and tokens were used to have a gift to give to a book lover without having to assume what kind of books they love. If your business has a strong brand loyalty from its customers, then you definitely should capitalize on that.
An even greater ROI
Then there’s just a simple look at how easy they are to produce compared to other gift-methods and promotional materials. All you need is the design and enough plastic cards to create a full stock of them. Then there’s the pricing value you can attach to them. It’s not a bad idea to consider attaching monetary values to your cards that are margins above or below your average product. For instance, if your average popular product costs around $30, then consider making $20 and $50 the values of your cards. That way, you’re incentivizing further spending to make sure people use all that card credit.
They’re a seasonal sensation
If you’re like a lot of retail businesses, then the winter holidays are by far going to be your most important and profitable times of the year. This is when gift cards really come to shine through. When it’s getting close to the holidays, make sure that you divert a lot of your marketing budget towards the gift card option. Don’t focus specifically on products, but on a selection and the kind of person or lifestyle your brand is supposed to fit.
All the positive proof you need
In marketing, the positive is always better than the negative. Rather than focusing on a ‘lack’ of solutions or benefits, focusing on what you can offer in the positive elicits a more emotional response. To that end, gift cards also act as a way to positively market your own business. Gift-giving is a positive experience by definition. They create positive experiences that will stick with customers from the moment they receive them. Even better if you offer personalization options to go along with them. Alongside gift cards, it’s a good idea to offer gift wrapping for seasonal purchases for the same reason.
Gift cards fit as many purposes as you have products. They capitalize on the love of the brand and the positive nature of gift giving. They can also make your most important time of the year doubly as successful. Don’t assume they won’t do your business any good.