You already know that consumers and retailers both love gift cards. Consumers love them because they are easy to purchase and make great gifts. Retail stores love them for the profit potential and brand awareness (link to other article). But if your business isn’t selling as many gift cards as you would like, we have some great tips to help increase gift card sales.
1) Make your Gift Cards stand out
It’s easy to overlook a gift card display of plain, single colored gift cards that blend in with the background. You can make your gift cards stand out and catch the eye of any consumer by making them unique. My1Stop offers customized gift card printing that will help your gift cards stand out while still remaining professional.
*Pro Tip: Don’t forget to make the display you use for your gift cards stand out. Bright colors, obscure shapes, anything that draws the attention of your clients.
2) Sell packages, not just dollar denominations
For some consumers, grabbing a $25 gift card is a quick, mindless way to grab a gift and get on with their life. But what if your client wants to provide something more thoughtful? Inc.com recommends selling an experience or package rather than a dollar amount.
Consider different experiences you can offer and provide different price points. For example, if you are a clothing store, consider an after-hours personalized shopping experience or a coordinated outfit.
*Pro Tip: Gift cards without designated denominations are exempt from the Federal Card Act stating that non-denominations gift cards are not subject to the federal laws in regards to expiration dates.
3) Provide a digital gift card option to purchase online
According to a press release by InComm, 67% of total gift card sales in December 2014 were digital gift cards (compared to 57% in 2013). With digital gift card demand growing, make sure your business gets its piece of the gift card buying pie by providing a digital options. But don’t forget to always provide the option of a physical gift card that can be purchased in store. Many consumers still prefer to have a physical object to gift to their loved ones.
*Pro Tip: Use digital gift card purchase as a means to grow your email list.
4) Run a gift card promotion
Heartland Payment Systems encourages stepping out of your typical gift card selling methods and trying something different. Give your customers a reason to buy your business’s gift card over your competitors. Offer a gift with the purchase of a gift card or a discount if you purchase more than one.
*Pro Tip: Start with small promotions to gauge the reaction of your clientele then ramp them up as you observe success.
5) Advertise your gift cards through social media
Online marketing is becoming not only a vital part of promotion but a necessity. If you are new to online marketing, advertising on Facebook is the perfect platform for the novice. Advertising can be a simple as creating a status update about gift cards and then boosting it with the amount that fits in your budget.
*Pro Tip: If you are a local retailer, target your Facebook ads demographically.
Stay Ahead of the Game
Before you act on any of the tips we have listed, make sure you have plenty of gift cards on hand so that you do not run out and miss potential sales. Don’t forget to ensure the quality by having your gift card printing done by a trusted professionals.