Despite the current harsh economic climate, one market, the gift card market, witnessed substantial growth in recent years, according to multiple research and reports. The gift card system is becoming one of the best ways to overcome the numerous challenges that many businesses face and it is not hard to see why though. Gift cards are fairly cost-effective and bring about an array of benefits to most businesses. The strengths of a well-implemented gift card system can be roughly divided into three large categories: financial gain, elevated brand awareness, and improved customer engagement.
1. Financial Gains
·Advanced Cash Flow
First and foremost, selling gift cards help merchants generate immediate cash flow. While customers can spend their money with you anytime in the future, merchants can receive the cash and put them to good use immediately. This is especially helpful for business which is recovering from the pandemic and is currently short on cash.
Implementing gift cards also help merchants generate more profits. People generally spend more when shopping with a gift card. It is commonplace for people to receive a gift card that stores a flat value, like $20 or $50. Nevertheless, it is relatively rare for customers to spend that exact amount of money and be done with the gift card they received. Most people are likely to place a more expensive order and use the gift card to cover a fraction of the cost, rather than placing a smaller order and leaving a tiny balance on their gift cards. Research also shows that about two-thirds of people who receive gift cards are likely to spend about 40% more than the value of the gift card they received.
Besides, there exists a considerable percentage of people who only spend a portion of the balance of their gift cards. That means any balance left on the gift cards can be treated as profits for your business unless otherwise required by local laws.
Interested in starting your own gift card system? Click below to learn more!
2. Elevated Brand Awareness
·Attract New Customers
Monetary benefits aside, gift cards are a powerful marketing tool that can help you increase traffic as well as attract new customers. Every gift card sale will likely bring at least two customers to your establishment, one who purchase the gift card and the one who receives it as a gift.
·Build Brand Awareness
Gifting gift cards create deeper impacts than “word-of-mouth” when it comes to brand awareness building. Since telling your friends about an amazing dish from your favorite restaurant is abstract and boring. Yet, treating said friend to a meal at the said restaurant via gifting them gift cards is a lot more convincing. Gift cards allow people who might have never considered going to a certain business a chance to try new things out, hence bringing new potential customers and increase traffic.
3. Improved Customer Engagement
Integrating gift cards with a loyalty program can significantly boost your customer engagement and help customers go from one-time clients to frequent visitors. There are several ways to achieve this, but merchants can easily set up rewards for referral programs or big-budget customers using gift cards. Using gift cards to reward your customers not only give them real benefits but also encourages them to do further business with you.
Furthermore, a modern gift card system with functions like customer spending tracking can help restaurants to gain valuable insights into their customers and help foster stronger relationships.
Introducing AIYA Gift Card System!
If you are interested in harvesting the benefits of the gift card system and considering adopting one into your business, then you have come to the right place! We have just announced our own gift card system, the AIYA gift card system! Our gift card system help boosts your business through all the functions and benefits mentioned above. Plus, allow us to introduce some of our unique features!
·Attract New Customers
Our gift card options offer professional and beautiful template designs that help catch potential customers’ eyes. We also support customized designs that help your business stands out and show off your unique vibe and designs to existing and new customers.
·Increase Brand Awareness
Beyond the fantastic card designs, our gift card management system supports a suite of useful functions. One of them is the ability to set extra bonuses for customers who decide to recharge. Strategically setting enticing recharge bonus help transform current customers into long-term recurring members while also encouraging standing clients to tell others to join and take advantage of the bonus. These features not only help attract new customers but also help elevate overall brand awareness.
Our system also features a robust card management system that allows merchants to manage all issued gift cards. Merchants can even freeze and deactivate lost or stolen gift cards, bringing peace of mind for both merchants and customers.
·Easy Integration & Access
AIAY gift card system also features easy point of sale (POS) integration. Our system seamlessly integrates with mainstream point-of-sale systems and can be set up effortlessly. Did we mention that our mobile-friendly system can be conveniently managed via your POS terminals or remotely via website portals?
If you are ready to give your business:
an extra incoming stream,
rewarding your current customers,
attracting new customers,
Please don't hesitate to click the button below to contact us!