Customers love gift cards. Not only are they empowered with choice, but they’re armed with a secure and easy payment method. Businesses have even more reasons to love gift cards. Did you know that in 2019 alone, customers on average, spent $358 billion on gift cards? By 2025, this number is expected to increase to $510 billion!
If you’re uncertain about where to buy fitting gift cards, visit In the End Gaming. They offer gift cards from a selection of household-named gift cards such as iTunes, Netflix, Amazon, and Xbox.
If this data is not enough, below are 5 solid reasons for incorporating gift cards into your business strategy.
1. Increase Brand Awareness
Gift cards are like cost-effective mini billboards for your business in the customer’s pocket. As people purchase gift cards to give to their family and friends, your brand continues to reach consumers that you usually would not reach. They almost work like a personal invitation to attract new customers.
For example, if a person has never heard of your brand but receives a €100 gift card from someone they trust, they will definitely visit your website or store. The business is guaranteed at least one visit to create a good impression, and if the customer is satisfied, you’ve acquired a long term consumer or even a brand advocate.
Alternatively, if your business doesn’t offer what the consumer is looking for, they will most likely re-gift the card to someone else, and eventually, someone will make a purchase. Each time your card is passed on, it increases brand awareness.
2. Increase of Revenue
Gift card programs can help boost your cash flow. As opposed to cash, gift card receivers have a strong incentive to spend money on your business. Gift cards are very cost-effective to produce, and according to giftcard.com, almost 60% of customers will purchase more than the amount on the token. Customers tend to treat the value on the card as ‘free money,’ and they’re less likely to hunt for bargains or wait for seasonal sales. This is excellent news for you as selling items at a full price increase your profit margin.
Depending on the amount on the card, consumers are likely to visit your business more than once to redeem the voucher, making them repeat customers. Alternatively, you could use gift cards as a way to save refunds.
Furthermore, if, for whatever reason, the gift card goes unused, it’s pure profit for your business.
We’ve got a tip for you! If you are selling gift cards, showcase them in a highly visible place. Ideally, place them next to the cash register as it will lead to more impulse buys from consumers.
3. Create More Touchpoints
Integrating gift cards with your point of sale system is beneficial because you can track transactions in one place. Additionally, when customers activate their gift cards online, you could collect vital data such as e-mail addresses to touch base with them more often. You could add their e-mail addresses to your mailing list, and you could send them special offers, promotions, and updates on sales. Through e-mail data and analysis, you’ll be able to understand your market better and serve them more effectively.
4. It’s an Immediate Purchase
Unlike other marketing strategies, selling gift cards allows you to generate revenue even before selling your product or service and you’ll be able to cover your expenses quicker. Regardless of whether the recipient uses the token or not, you’ve made a profit. Of course, to strengthen your relationship with the customer, it’s best if the customer spends time and money at your store or website, but either way, there’s no risk involved for your business.
5. Reduction of Fraud
With the increase of identity fraud, gift cards provide a sense of security to both the client and the business. In the End Gaming’s gift cards have the latest technology installed so that balance is updated automatically when a purchase is made, reducing the risk of misuse through cashback schemes.
Of course not to forget that gift cards are very convenient and they can be used the same way as credit and debit cards. Even if you lose the card, your money is safe. Explore In the End Gaming
If implemented correctly, you’ve now got five good reasons to use gift cards for your business. Right from boosting your revenue to increasing traffic to building meaningful relationships with your clients, gift cards are extremely cost-effective with high-profit margins – so be sure to include them in your marketing strategy.
With so many options available, choosing the perfect gift can be tricky. People may think that gift cards are impersonal, when in fact, you’re giving your special someone the freedom to pick out whatever they want and like. Maybe you don’t know what they have and don’t have, and perhaps you don’t know what their choice is. With In the End Gaming’s streaming and gaming gift cards, there is something for everyone! And the best part? You can save money and time without leaving home! Buy gift cards from as little as €10.