If you’re new to gift cards, here’s what you need to know to create the foundation for a successful program to keep your registers ringing.
- In addition to bringing in new customers, studies show an overwhelming majority of gift card users spend more than the original value of the card. That’s called uplift and it means more cash in your register at the end of the day.
- Choose a program easy to implement. That means it needs to be compatible with your point of sale system (POS). Just ask your provider if they can work with your POS. Simple as that.
- Understand the fee or pricing structure for printing and/or processing your cards.
(In some arrangements, gift card providers print, encode, and ship your cards. In others, they’re actually processing gift card transactional data in addition to card production).
- Create a vision for how you want your cards to look. Do you want a basic, no-fuss card with your logo that’s easy and fast to order and receive? Or do you want to spend a bit of extra time to create a mini-billboard for your company that reflects your brand, your environment and style? Both approaches have equal merit.
- Determine how you want to use your gift cards. Will you do a straight gift card value or do you want to supplement traditional gift cards with promotional cards such as rewarding the purchaser with a $5 card of their own with a minimum purchase of $30 on a gift card for someone else? Our merchants get creative with special promotions and have great results. Think about what makes sense for you.
- And finally, if you decide to invest in a gift card program, be sure to show them off. Displays put your brand front and center and packaging makes the giving of the gift card feel like a more traditional giving experience of unwrapping something unexpected.
We’ve worked with thousands of small merchants over the years and their consistency in keeping gift card programs running speaks to the benefits of both the monetary gains and the subtler aspect of reinforcing and extending brand names. Have questions? Call us at 1-866-776-7409.