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Your Guide to Maximizing Gift Cards
Offering Gift Cards for your business turns your loyal customers into brand ambassadors and introduces your brand to new customers. Gift Cards are a great revenue-driving tool, and your Gift Cards’ success depends on the effort you put into them. Creating a plan is key in ensuring your customers are excited about this offering.
The Guide to Maximizing Gift Cards is a resource to help you set up gift cards for success. From marketing tips to identifying your target customers, this guide is meant to help you strategize your gift card offering.
This is not technical documentation. For resources to guide your technical settings, please refer to your Gift Cards welcome email or the links at the end of this document.
Set goals. As they say, “What gets measured, gets done.” Goals must be specific and measurable, whether you choose to measure numbers, percentages or dollars. See the list below for some ideas about what kinds of goals you should set.
If this is your first foray into gift card sales goal-setting and tracking, keep it simple and focus on a few key areas, such as staff participation, new clients acquired and overall revenue generated from gift card sales. It is important to understand that the most powerful goals follow the SMART goal setting method. Your goals should be:
Document your goals and move on to step two.
31% of customers say they buy higher priced or full priced items with a gift card.
Train your team on all things Gift Cards. Spend time reviewing everything from ringing up gift cards, loading money onto to physical gift cards, and redeeming gift cards. Make sure that your team is comfortable with every aspect of the gift cards, so when you start selling, everybody is ready for business.
Adding Gift Cards alone will not bring in revenue. It is important to implement smart marketing and communication tactics to make sure your target audience is aware and excited about your Gift Cards.
To help you see the ROI for your gift cards, incorporate some of these marketing tactics to bring customers in and asking about your gift cards.
Marketing shouldn’t stop once your customers are in your establishment. Utilize these strategies to promote your gift card offering:
Track the results of your business’ investment in gift cards.
If you can’t tie results to specific marketing efforts, you won’t know what’s working. Use your reporting data to measure the goals you established. Monthly evaluation is important to keep you on track to achieving your goals.
Keep track with a chart or log to clearly measure your goals and achieved numbers.
|Goal||Actual – January||Actual – February||Actual – March|
|Sell 25 gift cards a month||10||18||22|
|Achieve $1000 in gift card revenue||$200||$370||$550|
If you didn’t meet your expectations one month, take some time to evaluate your marketing and promotional strategy. Are there any changes or additions you could make? Think about small changes like sending out an additional email or adding promotional signage in your establishment.
Remember, if your Gift Cards don’t fly off the shelves immediately, don’t get discouraged. Revisit your marketing, and think about what else you can be doing to increase awareness and excitement.