If the title doesn’t say it all, gift cards make you more money. They just do. If you’re a retailer, restaurateur, spa, salon, or any consumer based business, you need them. Gift cards are like printing money for yourselves, but only if you use them correctly. Many business owners buy gift cards and see little success. But it’s not a problem with gift cards, and it’s not their customers… It’s the way they’re using them.
So, you may ask, how do gift cards make you more money? How should they be used? Let’s walk through the bullet points!
1.) Train your staff!
Your sales people aren’t going to sell gift cards, if they don’t know how they work. You should have a training session, showing them all how to sell, and redeem gift cards. Talk about what they can do and can’t. Also, make sure your staff asks people about gift cards with every sale. McDonalds had massive success with their “Super-Size” campaign in the 90’s. It wasn’t because it was such a smart idea, it’s because they asked every customer if they wanted to “Super-Size.”
2.) Put the gift cards where people can see them!
I can’t tell you how often I talk to people who tell me gift cards are a bust. Only then to find out, they’re in a box in a warehouse, or under a counter. If people don’t know you have gift cards, how are they going to buy them? If you get a new product for your store, you don’t keep it in the back do you?
Look at major retailers. Walmart, Target, Kohls, even your grocery store. They have gift cards out, where you can see them. They want you to buy them, and they want them to be accessible.
3.) Use them creatively!
Don’t just sell gift cards to people who need a gift card. Think to yourself, how can I use these to my advantage? If customers want to return items without a receipt, you can return it and load their value on a gift card. Then your customer gets the full value back, but you know they’ll spend it in your store.
Run promotions. Spend $100, get a $20 gift card. That guarantees they’ll be back shopping again. And research shows the most people spend more than the gift card balance. Give cards away. How many people ask you to donate something for a fundraiser every month? Give a gift card. That way their non-profit can raffle it off. You can write off the expense. And you get a new customer!
If you use these 3 tips, you’re going to make money with gift cards. People love gift cards. It’s a 100 billion dollar business. Make sure you get your part of it! I’ll say it again: Gift cards make you more money! And if you need to order some, you can always call my company, Plastic Printers!