How to Increase Brand Awareness for a Restaurant: 10 Tips
Ever wondered why restaurants like KFC or Chick-fil-A always seem top of mind even if you've never tried their food? It’s because of their strong...
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Attract More Dream Customers and Keep Them Longer
6 min read
Sep 11, 2024
Gift cards offer your business a way to boost revenue and encourage repeat customer visits. About 75% of customers reported purchasing a gift card in the last year. While some give the card to loved ones, others may use it themselves.
Gift cards invite customers to engage with your brand from another angle, strengthening their relationship with your business. They can stretch each dollar further when using a gift card to cover a part of their purchase. Additionally, you can loop gift cards into your loyalty programs to prompt return visits and enhance the customer experience.
To maximize the use of gift cards for your business, it’s important to effectively market them. Strategic marketing campaigns make sure customers are aware. This article outlines the best strategies for your gift card program to make sure you maximize their potential and drive sales year-round.
For every gift card promotion strategy, there are a few core steps that can help make it as successful as possible. You need to understand consumer behavior, advertise compelling offers to these customers, and uncover creative techniques to keep them engaged.
Before you kick off your gift card strategy, cover these five bases:
Pro tip: Gift card sales show no sign of slowing down. Our latest Gift Card Sales Report captures the current state of customers’ enthusiasm for gift cards.
Once you have the foundations covered, it’s time to explore the core strategies and tactics you’ll use to promote your gift cards successfully.
As a general rule of thumb, it’s worth diversifying your gift card marketing strategies and orienting them around your target demographic. Doing so allows you to connect with the right people across several different platforms. Consider these five factors for when, how, and to whom you should market your gift cards:
Ready to get started on your gift card strategy? Our Marketer's Guide to Gift Card Strategy covers all things related to promoting gift cards, connecting with customers, and ensuring satisfaction that invites customers back again and again.
Both strategies and tactics are crucial in successfully executing your gift card marketing strategy. Although the terms are often used interchangeably, they’re different and serve distinct purposes in your overall marketing approach.
Once you have a strategy for marketing gift cards to your customers, it’s time to break it down into tactics. You want to make your gift card program eye-catching, too. Maybe the cards’ physical design is appealing or it’s connected with an exciting rewards program. Here are eight of the best tactics to boost gift card visibility and appeal:
It’s best to choose two or three tactics to start. You can always adjust and iterate your gift card marketing strategy later. By using a handful of tactics at first, you can more easily measure which ones work. This way, you can remove the tactics that aren’t helpful and prioritize those that have the most significant impact on your sales and revenue.
Pro tip: Did you know that the average digital gift card was loaded with $83.95? According to a 2023 report from Bank of America, the average sum on a digital gift card outweighs the average amount of $63.86 on physical gift cards. A digital-first approach to gift card marketing could help boost your revenue.
Promotions and discounts create a sense of urgency for customers, and as a result, your business is more likely to experience a boost in gift card sales. Time-limited promotions and discounts increase the perceived value of your marketing item. 37% of customers made purchases sooner than expected because of discounts.
Likewise, 35% of customers bought more than they would have without a discount. Here are nine tips to help you make the most of your gift card promotions and discounts:
Every discount and promotion aims to attract customers’ attention and drive revenue. When linked to effective rewards programs, these tactics not only help drive sales but also encourage repeat visits and draw new customers.
As you start implementing various gift card marketing strategies and tactics, it’s important that you choose the right gift card provider. You want it to be secure, reliable, and easy to integrate with your existing business. Make sure you properly vet each possible provider to make the right decision for your business.
Additionally, you should regularly analyze the performance of these gift card efforts. Define how you will track each tactic as part of your strategy preparation.
Along with the measurable numbers, seek customer feedback. Input from customers is one of the best ways to determine how your marketing strategies resonate with them. Based on what you learn from customers, adapt your marketing techniques to keep your offerings relevant and appealing.
There is much trial and error when starting new gift card strategies. You may predict one tactic will work well, but find that another performs better. It’s best to remain flexible while continuing to invest in strategies with proven performance. Be willing to change course if a different tactic or approach works better.
Ready to kick off your gift card marketing strategy? Paytronix is the all-in-one platform to help you make impactful progress in your gift card marketing. Request a demo now.
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