Why Gift Card Promotions and Incentives Work
For companies that market directly to consumers, gift cards can be a powerful form of promotional material. In addition to generating more sales, creating customer loyalty and generating sales, gift cards can also help a company brand itself as one that genuinely cares about customer experience. Read on to learn more about why gift card promotions and incentives work and why you should be including them in your promotional strategy.
Gift Cards Can Help You Compete;
Regardless of whether you run a Fortune 100 company or a large regional retailer, gift cards can help you get a leg-up on the competition. The reason for this is when shopping for products, goods or services, consumers want to feel like they’re getting a great value. This is especially true when consumers are making a large purchase that requires early research and plenty of shopping around.
Customers who are purchasing a new living room furniture set, for example, will likely look at dozens of sets before they decide to purchase one. As they shop around, they will be bombarded by promotional deals, customer incentive programs, and limited time only sales. While sales and limited time offers are nice, a promotional gift card allows those customers to buy their new living room furniture and also receive a Gift Card that allows them to take themselves to dinner to celebrate their new purchase, go shopping, or buy a gift for a friend or family member. More than any sale or limited time offer on the market, a promotional gift card truly feels like a gift, and, because of this can easily help your company stand out in the market.
Gift Cards Will Bring You More Business:
Anyone involved in marketing and promotion knows that word of mouth is one of the best possible marketing and promotion tactics. When customers purchase your goods and get a $100 gift card to spend on shopping, dining, electronics or entertainment, they’re going to tell their friends.
This word or mouth chain has the potential to bring you dozens of customers who are interested specifically in your company because of your incentives or promotional strategy. Again, people want value and if they see their friends getting great customer incentives from one company, the likelihood that they will explore that company is high.
Gift Cards Appeal to Customers;
In the mind of your customers, a gift card is free money to spend how and where they want. For this reason, gift cards are one of the best possible promotional gifts. When a consumer receives a gift card in exchange for doing business with your company, two things happen:
- The customer goes out and purchases something with that gift card. The purchased item, be it dinner, a new set of headphones, tickets to a show or a new shirt, becomes a memento that reminds the customer of his or her interaction with your company. Additionally, when the customer’s friends or relatives ask about why, how or where the item was purchased, your customer spreads the word about your company’s great gift card incentive program.
- The customer feels valued and taken care of. In a world of incredibly competitive business tactics and some truly cutthroat marketing, taking care of customers is the one true way to stand out from the crowd, consistently. Taking care of customers builds customer loyalty and ensures that the next time the customer needs a similar product, good or service, they’ll head your way.
Gift Cards are Getting Popular;
According to the Incentive Research Foundation, 65% of all recognition and rewards-focused administrators use gift cards in their promotion & incentive strategy. Because gift cards have the potential to boost direct marketing success so hugely, companies are quickly catching on and as they do, it’s going to pay to be one of the first to the game.
The Case for Gift Card Incentives and Promotions;
Whether you’re running a promotion or incentive program, you need to consider adding gift cards to your strategy. In addition to being an effective, generous and memorable way to draw customers to your business, create new connections, retain customers, build outstanding customer loyalty and be competitive in the market, gift cards are also a great way to brand yourself as a company that truly cares about its customers.
In today’s incredibly competitive market, providing a great customer experience is one of the most effective marketing strategies there is. When customers have a good experience with a company and leave feeling genuinely valued, appreciated and catered to, they’re going to come back. Regardless of whether you’re in the Retail Energy, Banking, Home Security, Furniture, Hospitality or DTV industry, it’s clear that adding desirable, unique gift cards to your marketing and promotion strategy has the potential to give your company a sizable boost. Contact Mpell Promotions to find out more!