Gift Cards: An Unexpected, Money-Making Hero
Updated: Jan 29
Many small to mid-sized merchants write off gift cards as something that their business simply doesn’t need. Perhaps few customers have inquired about buying them, or you’re getting along just fine with paper certificates. But before you write them off, allow us to plead their case.
Did you know that 50 million adults purchase gift cards every year – outnumbering paper gift certificates four to one? Compared to paper certificates, gift cards are more durable, easier to track, reusable, hard to counterfeit, and a more attractive way to market your brand.
Gift cards enable your business to capture more holiday sales, year-round, from Christmas to Valentine’s Day to birthdays. Unlike coupons, which take value away from your products and services, gift cards keep customers coming back to use the full value of the card. While traditional marketing strategies take time to result in sales, gift cards actually generate revenue in advance of sales. They also signify that someone close to the gift card recipient feels so positively about your business that they want to encourage other customers.
Gift cards present a great opportunity to build brand awareness. They offer cost-effective advertising, keeping your business top-of-mind with customers. Gift cards act as a miniature, wallet-sized billboard for your company – while they cost a whole lot less than placing an advertisement. In addition, they engage customers even beyond the gift card purchase, opening doors to deeper customer engagement and marketing opportunities. Gift card purchasers are engaged as ambassadors of your business, while recipients engage with your business feeling happy and uplifted.
Gift cards are not only safer than paper gift certificates, but also more convenient. They can be used the same way as any credit or debit card: in-store or online. They are also easier to hold onto, being less vulnerable to loss and damage.
If you’re thinking about implementing a gift card program at your business, consider Tandem. Tandem’s gift card program offers a number of benefits over other gift card providers – including low start-up costs, low monthly fees, no minimum card order, easy implementation, a comprehensive starter kit, free online reporting for monthly statement and transaction history, and online access to card balance. With all these advantages, plus the friendly and helpful service of Tandem’s team, it’s easy to see why so many small and mid-sized merchants choose Tandem for their gift card needs.
To learn more about our gift card program and additional ways to drive success and profitability at your business, contact our team today at https://www.tandempayment.com/ to begin a conversation.