Gift Card Program Best Practices - 8 Tips for Success

25 March, 2023

If the past few years have taught us anything, it’s that business is always in a state of change. With shifts in consumer behavior, advancements in technology, and fluctuations in the economy, it’s crucial to stay adaptable. We want to share some ideas on how to optimize your gift card program to adapt to these changes. Whether you’re looking to improve an existing gift card program or start a new one, we’ve got you covered.

Offer Gift Experiences

To provide customers with more options and enhance their experience, consider offering gift experiences related to your brand. This allows for greater personalization and goes beyond the traditional monetary gift card.

Offer Themed Gift Cards in Different Denominations

Customers appreciate choice, so make sure to provide a variety of gift card options for various occasions. This should include themed gift cards for events such as anniversaries, birthdays, and graduations, as well as popular holiday-themed gift cards like Easter and Christmas. Additionally, offering gift cards in multiple denominations can cater to a range of budgets and provide more options for your customers.

Promote Sustainability

To better promote sustainability, it is important to recognize the growing number of conscious consumers. To meet their needs, brands can consider using recyclable materials in their products and packaging, or transitioning to fully digital gift card offerings. When promoting sustainability, you offer customers an opportunity to make a small but positive difference

Consider B2B Customers

With the potential for bulk gift card sales and large corporate budgets, it’s important to consider B2B customers. Target enterprise loyalty programs and employee benefit programs to capitalize on this market.

Make Your Gift Cards Discoverable

Make it easy for customers to find and purchase your gift cards by featuring them prominently on your website, at your physical location, and on your social media channels. If gift cards are not easily discoverable, your customers can not purchase them.

Run Promotions

To drive business, consider running gift card promotions, especially during holidays or when your business needs a boost. Instead of discounts, use the power of gift cards to incentivize customers. Starting promotions early and planning in advance is crucial for success during the holiday season.ions.

Offer Multiple Payment Options

To attract and retain customers, it’s essential to provide them with various payment options that cater to their preferences. With the rise of digital wallets, cryptocurrencies, and other innovative payment methods, customers have more choices than ever before.

Track Sales, Redemption and Overspending Rates

It’s important to utilize tracking and analytics tools to identify exactly where sales are coming from. Was the sales uptick due to a holiday promotion or was it that social media campaign you ran? Additionally, businesses should track redemption and overspend rates to identify which offers lead to customers spending more than the initial value of their gift card. Use the data to identify what works for your business and double down.

If you want to get the most out of your gift card program or need guidance on starting a successful gift card sales strategy, talk to an industry leader. Talk to Voucherstore.