December is the perfect time to sell out your stock of gift cards, and with a little creative marketing you can set yourself up for a spike in sales that can help to carry your business through the winter.
One strategy that we’ve found successful is to set up a “treat yourself” incentive - for every $100 gift card sold, give away a free $10 gift card for the buyer. You can play on this idea to come up with an alternate strategy - like giving away a free $25 card if a person buys five $25 cards. As a business owner, sometimes it’s hard to swallow the “spend money to make money” philosophy implied here, but trust us, it works!
First of all, your immediate goal is to sell more gift cards, and offering a free incentive makes your customers more likely to spend at your store if you dangle an enticing offer, especially one that “rewards” the giver.
Secondly, the more cards you sell, the more customers that are exposed to your business!Think about it. Getting customers to hand out gift cards to their friends and family is like having someone pay you to do your marketing work.
When it comes to redemption, it’s very rare to spend the exact value of a gift card. In some cases, customers leave a balance that is never redeemed… consider that money that stays in your pocket.In the vast majority of cases, customers spend more than the value of the card, and this is where that post-holiday season business boost occurs. According to giftcards.com, 72 percent of customers spend more - an average of 20 percent more - than their gift card amount.
Now that we’re in the Holiday home stretch, it may be worth revisiting Cervion’s previous tip on boosting gift card sales. We recommend that you make a prominent visual display of your gift cards and gift card offers, and try holding a staff contest to boost sales. If you’re a Cervion Email Marketing customer, send out an email broadcast letting everyone know about your special offers.