The prevalence of gift cards has surged, partly due to the worldwide trend towards online purchasing and the pandemic, but also because electronic cards are more practical. Today’s consumers expect gift cards to be available for online application, purchase, and sharing.
The usage of gift cards by eCommerce businesses has even more benefits. Not only are they essential for fulfilling consumer expectations, but they are also part of a marketing mix that increases conversion rates.
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In this blog post, we’ll examine the potential financial benefits of gift cards for online shops and offer some tips on how to boost sales to them. Let’s examine more closely at the administration of an effective gift card scheme.
What justifies the sale of gift cards?
If you’re still not sure whether to offer gift cards on your website, consider the following reasons to incorporate them in your marketing strategy:
in great demand. Our world is fast-paced, with many stores opening and closing quickly. Gift cards offer recipients and givers the invaluable freedom to purchase whenever it’s convenient for them.
No revenue decline. Did you know that the average customer spends about sixty dollars more than the value of a gift card? It suggests that selling gift cards generates higher cash flow. Moreover, generating a return would not need a huge investment.
increased brand recognition. It’s common knowledge that bringing on new customers costs more money than retaining current ones. If your brand evangelists have the authority to distribute gift cards, they can really accomplish the task for you.
an advantage over rivals. This marketing tactic won’t enable you to surpass eCommerce behemoths overnight, but it will help you stand out from competitors. Why not take advantage of the opportunity to further set your firm apart?
perfect for promoting across several channels. recently had a mobile app released? Would you like more people to walk into your actual storefronts? If gift cards are distributed through certain channels, there may be extra advantages. If not, you may give out gift cards through certain marketing channels to promote the targeted ones or use them as part of your omnichannel loyalty programs.
How gift cards affect your monthly income
The most popular gift item for a number of years has been gift vouchers, according to the results of the NRF Christmas poll, which indicated that 58.8% of consumers would rather get a gift card as a present.
E-gift cards are redeemed more frequently and help to increase check sizes by 6% for purchases that are completed and paid for in full or in part using an e-card, according to Paytronix’s 2019 Annual Gift Card Sales Report.
Imagine that your store gets 1,000 orders a month, each with an average check of $25. That equals $25,000 every month. You may increase your monthly income by at least $1,500. Not to mention the chance to attract new customers and cultivate the relationship necessary to make them devoted supporters.
Seven strategies to boost gift card sales
Gift cards are most often sold and given during the seasonal holidays, but you should always adjust your strategy to attract customers to e-cards. These seven tactics can help you boost your earnings even in sluggish sales.
First move: Make the e-card more visible
Can consumers simply purchase gift cards directly from the homepage? Do gift cards show up in the tree of navigation? Do you customers know that gift cards are available?
Use a range of marketing strategies to remind your visitors of this information, and display e-cards prominently on your website.
Additionally, a variety of designs have to be offered so that the purchaser has choices.
Strategy #2: Increase gift cards through cross-promotion
Cross-promotion works well. Why not use cross-merchandising e-cards when appropriate?
For example, you may have a special category of products for a certain event. Differently priced gift cards may attract some shoppers who are in the market for presents and provide them another choice for what to offer their friends.
3. Provide them with many ways to obtain them.
If you’re just getting started, make sure that every customer, regardless of preferred mode of purchase or communication, is aware of your gift card options.
If you’ve been using this marketing mix for a while, you might want to consider creating channel-specific special offers. It wouldn’t hurt to create gift cards for certain marketing channels, such social media, newsletters, Google ads, etc.
Tact #4: Mention gift cards.
In anything you do on the internet, never adopt a passive attitude. Gift cards do not qualify as an exception. If your firm is both online and offline, make sure that your sales reps bring up the availability of e-cards right away.
Write a last phrase mentioning your support staff members, or consider adding a remark to your email signature.
McDonald’s “Would you like fries with that?” has increased sales significantly with only one question. Why not acknowledge their accomplishments?
#5. As a ploy, make electronic cards with seasonal themes.
limited access. Just one hundred items in all. only this spring.
Clients love receiving special deals and discounts and being treated like king.
Beautifully designed e-cards for special occasions may be a great way to go viral and draw in readers who aren’t just in your target market.
Tip #6: Make mention of kickbacks
It’s a tried-and-true way to increase the value of a sold gift card. Get a free one when you buy one.
To encourage the purchase of higher-value e-cards, think about giving out free, lower-value ones.
Customers like free gifts, so why not offer them the chance to use your services to treat themselves or their friends to something wonderful for nothing? Furthermore, in the event that the kickback amount is not enough to cover a transaction, your clients are encouraged to increase the value of their purchases.
Strategy #7: Partner with other businesses
When and where do customers often use your services?
Consider working with businesses that aren’t direct competitors by trading gift cards. Not only is it a fantastic method to promote your goods or services, but it’s also a terrific approach to reach a wider audience and generate interest in your gift cards.
Finish
Present cards are popular, appreciated, and looked forward to.
With their help, we’ve discovered 7 successful tactics to boost your internet business’s revenue.
These days, any eCommerce business may use the platform’s fundamental features or a gift card API to implement the capacity with ease. Enjoy every advantage that this mix of marketing offers.