Why set up a gift card programme
Have you ever considered setting up a gift card programme? Are you unsure how to convince senior team members that gift card programmes make your business more visible, and profitable – and help get you into new markets, simply by existing?!
If you think it sounds too good to be true – read on and see why you might need a gift card programme…
Customers are looking for them!
You may have heard customers ask for a gift card, or even heard stories of customers making their own gift cards! Now is the time to create your own gift card programme. Even if your brand is just starting out, offering a gift card is an additional way to get money – and it can act as a promotional tool.
You need a way to enhance sales in peaks
Gift cards sales peak around big occasions – Mother’s day, Father’s day, Christmas and Easter. When people aren’t sure what to buy, a gift card makes a great choice. You may need a gift card if you don’t see enough activity around these seasonal spikes. Perhaps people simply aren’t sure how to create a gift from your product range. A gift card presented to the consumer in the right packaging allows people to make that connection and purchase for others.
You’ve heard it’s a great profit driver (and you’re right!)
There are three ways gift cards offer great value for a brand. Firstly – you get sales of gift cards. These are like a promise to come back and spend money. Secondly – of the people who do come and spend their gift card, there’s only a very small percentage who spend the amount they’ve been given exactly. The most likely scenario is they spend more – supplementing with their own cash, or they leave money on the card.
The third and final way gift cards offer a great perk to retailers is this leftover money- and through the cards that are never redeemed.
You’d like a way to be seen across the world!
Gift cards are like a key to a network and a way to open doors across countries. Working with your team, we’ll leverage our European network of online and offline third-party channels to ensure your gift cards connect with the right markets to unlock the commercial results you want.
You’d like to attract B2B sales
Gift cards are a powerful tool that can launch your brand into new markets and help you acquire new customers on a massive scale. The employee reward market is huge for gift cards. Why? Well there are a huge multitude of reasons. Some companies may feel:
o High-potential employees don’t feel like their good work is valued.
o Employee morale is down
o The business is in a period of change
o The risk of staff loss is high
o Staff numbers are low
o Increased levels of absenteeism / unplanned leave
o Increased levels of mental health issues
o Recruitment and staffing issues are present
o The business is overperforming, yet staff haven’t been tangibly rewarded
o Staff rewards are infrequent
Gift cards make good sense to these businesses and there are two ways they go about using them. The first is using a B2B gift card supplier to provide them bulk gift cards. The second is having an employee rewards/ employee benefits platform that offers gift cards in exchange for ‘points’ (points being generated by good work or other company-chosen metrics.)
As a retailer – you can get your brand gift card onto these platforms.
Gift Cards Start With Us
From strategy to tech solutions to commercial success: we’ll show you the way.
Your brand’s objectives are the starting point for defining the right gift card strategy. From there, our consulting team advises on the right solution and defines a plan that takes you from design and tech to distribution and sales. We know the challenges that often arise and can help you steer clear of these to get the results you want, faster.
With a sound strategy defined, our team works alongside you to provide hands-on support where you need it. We function as an extension of your team and work proactively to ensure that your gift card solution fits the big picture.
Technology is a crucial component to gift card success. We’re familiar with the obstacles outdated in-house tech can pose and can help clients manoeuvre around these. Likewise, we have solutions for sourcing and managing all necessary tech touchpoints for gift cards – from white-label platforms to processing and API distribution.
Speak to us today!