As more individuals are making purchases online than ever before, digital business tools have become essential for success. It is thus crucial for businesses to expand their business models to include the use of custom gift cards to continue making virtual sales. More than $100 billion in annual purchases are made using gift cards. This makes gift cards the perfect solution for your business!
Boost Sales and Revenue
A study found that 72 percent of customers spend more than the amount on gift cards when they checkout, which boosts revenue and opens up new sales opportunities. These gift cards not only increase sales but also increase revenue for your company as consumers often use gift cards as a discount to purchase products that they otherwise might not have thought to buy.
For the consumer, the advantages are clear-cut – custom gift cards are simpler to purchase, give, track, and use as a platform for earning loyalty incentives. Additionally, gift cards allow your devoted customers a way to support you while business is on pause.
The main advantages for merchants and restaurants are the additional gift card sales channels, which include social media sites like Facebook, Instagram, and Google Ads.
Increase Brand Awareness
Further, selling custom gift cards can help in boosting brand awareness. You can easily do so by customizing your gift cards with your branding and logo. You can also customize your gift cards to sell a fixed value or a custom value while offering your products and services in any currency or social media platform.
Build Relationships with Your Consumers
You can build relationships with your consumers through the use of gift cards as it acts as a rewards program. On top of this, you can give customers a gift card to settle a dispute or when they spend a particular amount on your goods or services. That way, you can build a strong bond with potential repeated customers! Promotions like “Buy $100 in gift cards and receive a $10 promotional gift card” may make consumers come again. Once they do, they’ll probably spend more than the amount on their gift card.
Profit from Impulsive Purchases
Unbelievably, a lot of people make impulsive purchases of gift cards. When a consumer sees your gift cards at the register, they may suddenly realize that they need to buy something for their aunt’s birthday or their brother’s wedding. It’s simple to decide to purchase a gift card at the same time because they already have their wallet out.
Make sure your gift cards are prominently displayed to capitalize on this inclination. Too many businesses make the error of hiding gift cards behind the counter. Gift cards are useless unless they can be seen.
About Millennium Payment Systems
With Millennium Payment Systems, you can expect a smooth and hassle-free experience using our payment processing systems as we are dedicated to providing you with the best services. From our extensive coverage of all major credit cards to our fully integrated payment gateways, we are devoted to meeting your needs and strive to bring you the quality service you deserve. To learn more about our services, contact us today!