Gift Cards: Embrace Gifting to Boost Business

It happens with probably everyone out there–what to gift to your loved ones on special occasions. You spend hours evaluating different options considering plenty of factors. And once you choose, you are never sure if your friend will like the gift. That’s the whole purpose of a gift–to spread happiness and see a smile, which, if not happen, can be pretty disappointing.

But who doesn’t like gifts? Everybody does! Gifts can make you feel happy, cheer you up, build closer connections, and enhance your overall mental health. Having said that, brands can also build deeper relationships with customers by helping them with gift cards.

What is a Gift Card?
A gift card is a voucher that customers can use to buy anything. For example, you can send your friend a gift card preloaded with a specific amount from a particular brand. Your friend can buy anything from that brand and use the gift card to redeem its value. Earlier, retailers offered physical cards, typically kept at the checkout kiosks. However, digitization has helped businesses prosper and made gifting simple by sending gift cards online through emails, apps, or even social media; around 46% of US users purchased a gift card on social media in 2020.

Digital gifting is becoming increasingly popular. It’s simple, easy, and effective! 42% of consumers spend more when using gift cards, and around 50% of leading retailers offer gift card solutions. Apart from customer engagement, gift cards are a lesser-known fact boosting sales and conversions.

Increased Revenue and Cash Flow
Gift cards are not just a pretty face; they also work wonders for businesses’ bottom lines. When customers purchase gift cards, it provides an immediate cash injection without needing an immediate product or service exchange. This influx of funds can be beneficial, especially for small businesses, as it helps them cover operational costs, invest in growth, or improve their offerings.

Moreover, studies have shown that customers often spend more than the gift card’s value when redeeming it. They end up falling in love with products or services, adding more items to their purchase and increasing overall sales.

Customer Acquisition and Retention
Gift cards aren’t just a boon for businesses’ wallets but also an excellent tool for acquiring new customers. When someone receives a gift card, it introduces them to a brand they may not have considered before. Exploring a new store, restaurant, or service is like a golden ticket.

Once customers step into a business, they experience firsthand the quality of products, exceptional customer service, and overall ambiance. If they have a good experience, they’ll likely become loyal customers, returning repeatedly. Gift cards are the gateway to building a tribe of raving fans!

Increased Brand Awareness
When you give a gift card of an unknown brand to your friend, it helps in creating brand awareness. Not only does the friend get excited about visiting the store, but everyone at the party learns about it too.

Gift cards are like tiny brand ambassadors that spread the word about your business. They constantly remind people of fantastic experiences with your brand, ultimately boosting awareness and expanding your customer base.

Convenient and Secure
Physical gift cards were challenging to store–they could be easily lost or stolen. But digital gift cards are secure, and users can send them easily with a few clicks. Recipients can have gift cards in their email boxes waiting for redemption. All they have to do is apply the gift coupon during checkout and enjoy the newly bought gift.

Nowadays, retailers can also enable the personalization factor and help users send customized gift cards with personal notes. OptCulture omnichannel marketing platform can help retailers with gift cards from creation to tracking redemption and monitoring sales. Retailers can generate thousands of gift cards and meet customers’ specific needs under one platform. Brands can spread happiness and boost sales with the incredible power of gift cards!
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