If you aren’t sure your gift card programme will create ROI - Here are some ideas to help bring clarity
If you aren’t sure if a gift card programme will create real ROI – or if your CEO is asking questions – we’ve got some ideas to help bring clarity to the decision:
See if you have a ready market waiting.
Tools like Ubersuggest will help you see search volumes for your brand name & ‘gift card’.
Are people already looking and coming up short?
Ask your current customers if they would use or gift your cards.
Add a pop up to your site, or add to your email campaigns or social channels to canvas opinion. A programme you release on the back of this could pivot into a ‘you asked – we provided’ marketing angle for your brand.
Speak to experts (we are here to help!) to see if there has been industry talk around needing a gift card from your niche in the B2B space.
This could open up your brand to thousands of ready to spend customers.
Do the math.
Gift cards have an overspend known as redemption uplift where people using one spend up to £15 more per transaction. Analyse your typical average spend per customer to calculate a potential return. Also, consider that 5 – 10% of gift cards aren’t ever redeemed – offering pure profit for the retailer.
If you’d like a detailed analysis of how gift cards could work for your brand, speak to our team today.