No matter a company’s strategy, offering gift cards will help increase revenue and grow a customer base. Still, there are a few best practices that merchants should keep in mind to get the most from their gift card sales.
Through implementing a few simple steps, businesses can turn an adequate gift card program into an amazing one. So, to help you avoid some common pitfalls along the way, here’s our list of what not to do when selling gift cards.
1. Never forget that a gift card is supposed to be a gift.
Oftentimes when a customer buys a gift card, they are buying it as a present for someone else. This means that a gift card should be dressed up and packaged as a gift. Some businesses fail to give their gift cards these personal touches, and sales may suffer as a result.
2. Don’t forget to promote your gift cards.
Gift cards drive additional revenue opportunities for businesses, but that’s not all. Gift cards can also be important marketing tools for merchants, as they can be used for increasing brand awareness. To make the most of this, businesses should invest in intentional gift card marketing efforts both online and in-store. This marketing will enhance gift card sales and help spread awareness about the company to potential new customers.
3. Don’t discount the value of digital gift cards.
Physical gift cards are important for every business to have on hand, but many merchants underestimate the value of offering digital gift cards, too. Digital gift cards are fairly simple to implement, they are environmentally friendly, and they are quite popular with customers due to convenience. Failing to add digital gift cards to your website could be a costly mistake over time.
4. Don’t lose track of local laws.
Some states and cities have laws surrounding gift cards and how they can be redeemed. Be sure to research whatever the laws are where your businesses are located. Failing to follow local laws could result in fines or other penalties for your company.
5. Don’t wait until the last minute to implement gift cards.
The holiday season is a critical time for gift card sales. It’s also an incredibly busy part of the year for most businesses. Attempting to ramp up a gift card program during the busy holiday season may be too late and will likely impact gift card sales.
Are you ready to learn more about starting a gift card program at your business? Contact us today to schedule a consultation!