Gift Card Sales, with Bojana Maric
It’s that time of year where consumers are searching for great presents to give to family and friends. With so many choices in the market, how do you make your brand stand out and make money during this time? Here are my top 5 tips to benefit your business with gift cards. #Winning.
What is your top selling product?
Many small businesses make the mistake of creating vouchers for services or products that don’t sell well, with the hope that it will increase people’s interest. If it’s not enticing enough to purchase in the first place, who would buy it for a gift? Instead, choose top performing products and services and create a bundle deal with 2-3 products/services and give it an enticing name. Just think, would I love this as a gift for myself?
An opportunity for a returning or repeat customer
Showcase the best version of your business by creating holiday gift cards for services that require multiple visits. Yes, multiple visits. This will give you a greater opportunity to build rapport, upsell to other services/products and gain a customer for life. Create an incentive too hot to handle that people won’t want to miss it!
For example: If your best selling facial costs $199, then create a voucher that is $499 for three visits. Make the voucher enticing enough to purchase, but be sure that you’re never selling yourself short.
Create urgency around this deal so that people act fast. You want people to feel as though they CANNOT live without this deal. PS: I wouldn’t mind this as a present myself. Thank-you!
Spend and save!
This is for the indecisive shopper. Another great way to gain new customers over Christmas period is to create a ‘tiered voucher’ option that will give the customer an exciting opportunity to spend in your store.
For example: $49 will get you $60 credit towards your store/online shop, or $99 will gain you $150 credit, and so on. This is the perfect opportunity to create rapport and catered to your consumer needs.
A customer for life
For businesses that offer the more intrusive/multiple visit services, a great idea is to offer 6 or 12-month visits.
For example: $499 for 6 months worth of treatments/visits. $999 for 12 months worth of treatments/visits.
Give them access to certain treatments and services, but leave room for upselling. We all know word of mouth is the most effective form of advertising, so this will be your chance to spread the word about your great work.
Getting your price point right
Getting your price point right is key to the success of sales.
- If it’s a service on offer, is there room for an upsell or revisit opportunity?
- Am I offering three price points? Psychologically, the consumer will almost always go for the middle or highest option when you offer three prices ranges.
- A great way to price is to think about the numbers. $149 rather than $150 and $199 rather than $200 even though it is only a dollar difference, the consumer feels they are getting a better deal. This works like a charm.
There you have it, some advice for your holiday gift card marketing. Merry Christmas and Happy New Year!
Bojana,Founder & Creative Strategist, B Creative Enterprises.