In spite of the fact that the gift card sales have doubled in the past year, only 59% of the online merchants offer online gift cards. Considering the size of the sale increase, not implementing a gift card program on your website means that you’re simply selling your business short. Moreover, given the perks online gift cards can offer, not including them in your operations means you’re also doing your customers a great disservice. Following are the top five benefits you stand to gain by offering online gift cards.
1. A built-in referral system
Even though all online merchants are aware that gaining new, loyal customers is best done via referrals from your best clients, a vast majority of them choose to ignore it. Your loyal customers are some of the finest advocates for your business. Therefore, offering them gift cards is synonymous with giving them the ability to put their money where their mouth is. By implementing a thoughtful gift card system, not only can you be certain that they’ll mention your business to friends and relatives, but they will also send them to you.
2. A truly 24/7 business online
Modern businesses should never limit their sales based on store-hours, especially with the rise of e-commerce and m-commerce. By implementing gift cards for purchasing 24/7, you are making it more convenient for loyal and potential customers to do business with you, no matter the time of the day.
3. Retail regardless of your niche
Granted, not all businesses have a retail front or provide clients with the possibility to purchase gifts, and the service niche is the perfect example in this sense. While most people love receiving gifts, with services this is relatively difficult to achieve. Thanks to gift cards, every service business can now be a source of thoughtful gifts for loved ones. Keep in mind that there’s no rule stating that gift cards have to be limited to the walls of your business!
4. New customers
A first time visitor with a gift card constitutes an opportunity to win over a loyal client. First impressions matter, and your gift card is bound to determine users to rate the experience independently. Furthermore, there are good chances that the customer who gave him the card will inquire about the experience. After all, let’s not forget that a customer willing to give an online gift card is a supporter of your business. Because the gift-giver verbalizes the positives and reassures the gift-recipient he made a good decision, there’s a fairly big chance of a return visit.
5. Extra revenues
By far the most obvious advantage of implementing a gift card system on your site is the additional revenue. While anyone could offer their loved ones money and request they spend it on your premises, this is just plain rude and there’s also no guarantee that the recipient will actually follow the suggestion. Similarly to how large purchases come with down payments, a gift card system is bound to help you earn money upfront, irrespective of whether the card is redeemed.