Are you gearing up for holiday sales? Or, perhaps, you simply want a new way to increase your revenue? Whatever your goal, cross-promoting your gift cards can drive sales and create meaningful partnerships with other local businesses. You can work with like-minded business owners, who aren’t your competitors, to take your business to the next level. To help you get started, here are a few tips on how you can partner with other businesses to sell your gift cards.
1. Choose Complementary Businesses
Your first step in finding the right partners is to choose complementary businesses that work well with your product or service. Instead of choosing businesses by proximity, try finding brands that your customers will be interested in, and vice versa. For example, if you sell fine cheeses, you may consider partnering with a business that sells wine or kitchenware. This way, you’ll work with businesses that aren’t your competitors, but they still lie within your audience’s interests.
Consider also that you should identify businesses that you find reputable and trustworthy, as this partnership will reflect your brand’s values. You will be associated with that business, so you want to make sure they represent you well.
2. Create a Promotion that is Mutually Beneficial
How you partner with the other business should be beneficial for you both. You might consider these ideas:
- Exchange low-dollar gift cards ($5, $10, or $15) for the partner to give to their customers who spend more than a certain amount. For example, if they spend $100 at your store, they receive a $10 gift card for your partner.
- Work with complementary businesses to build gift baskets with your gift cards and products.
- Sell each other’s gift cards in your respective stores and pay commission on the sales.
There are endless possibilities for working together with like-minded businesses. Get creative with your promotional ideas!
3. Collaborate on Marketing Ahead of Time
One key to the success of your cross-promotion is adequate marketing and advertising. By planning your strategy ahead of time and making sure that both businesses are on the same page, you can increase the chances of your sales doing well.
There are a few things to keep in mind when spreading the word about your promotion, such as:
- Collaborating with the other business to ensure that your ideas, thoughts, and messages are aligned
- Informing your employees of the promotion and empowering them to share the information with customers, as well as their family and friends
- Creating digital marketing assets, such as social media posts, stories, and emails
- Budgeting for ad spend to promote your gift card promotion across social media and other websites
- Crafting messaging for the promotion that fully explains the benefits the customer receives
4. Track Your Progress
To measure the success of your promotion, be sure to track all gift card sales. Work with the partnering business to create a standard for tracking sales and how often you will share sales numbers. This allows you to see how your promotion is progressing and areas that could be improved. It can also help you determine if this promotion is beneficial for you both and can open the opportunity to discuss new promotions in the future.
5. Schedule Promotions throughout the Year
Do you usually create gift card promotions around the holidays? The beauty of gift cards is that they’re great gifts all year round. When the holiday season is over and your sales begin to slow down, use that time to partner with other businesses to bring your customers back in. Work with your partners to plan promotions consistently throughout the year. Planning ahead of time will give you ample time to iron out the details of your partnership.
Sell Digital and Physical Gift Cards with Card Market
With Card Market Pro and Express, you have the tools you need to sell digital and physical gift cards with ease. We help you promote, sell, and track your gift cards so that you can share your products and services with current and new customers. Are you ready to learn more about Card Market’s services? Contact us today to schedule a consultation!