Did you know that gift cards offer a surprising amount of benefits for businesses? By adding gift cards to your business, you can experience a significant amount of growth and customer retention. Here’s a look at five smart reasons why you should be offering gift cards at your business.
1) Gift cards keep your customers coming back
Gift cards are a currency that can only be used at your business. Therefore, a customer will be likely to come back to your business until they have exhausted all the funds on their gift card. Multiple customer visits from one gift card can drive up some exciting revenue.
2) Increases brand awareness
When someone purchases your gift card and gives it to a friend or a family member, it gives the recipient a risk-free way to try out your brand. This is an opportunity to turn this new visitor into a potential long-term customer. A gift card also allows you to gain that customer without having to spend any of your marketing money.
3) Reduces risk of fraud
Gift cards can protect both the customer and the business from potential fraud. Redeeming a gift card protects the customer by providing a way to purchase without having to deluge any critical financial information. Gift cards also protect the business from misuse from cashback schemes.
4) Builds customer loyalty
A gift card is a great way to keep customers coming back when you offer that gift card along with a loyalty program. Gift cards have a way of building a bond with the customer. Therefore, your company should consider offering gift cards to existing customers who are likely to purchase them for friends and families.
5) Boosts sales around the holidays
You are likely to sell lots of gift cards around the holidays if someone needs to buy something for a friend or family member. Also, the gift cards are likely to be redeemed right after the holiday season which can further boost your sales with additional purchases.
Inkas Payments is a leader in payment processing and merchant services. We can help you create a seamless checkout experience that can drive up your conversion rates and boost your business. Contact us today to learn more about our services.