Think of gift cards as valuable, low-hanging fruit. When they are set up correctly and targeted to the right customer, they practically do the work for you. At their best, they can help ramp up sales, encourage repeat visits and ultimately add a nice boost to your bottom line. That’s because there’s a huge market for them — the average Canadian spends $200 on gift cards every year.
Want to get in on the action? Here’s how to run a gift card program that will work for your business.
Sync them with Square.
Square Gift Cards are integrated right into Square Dashboard, so you can sell, redeem, track and reload them without any additional tools. There’s no subscription or redemption fee, and they cost as little as one dollar per card, depending on your order. Once your gift card program is up and running, you’ll receive transfers for gift card activations in as little as one to two business days.
Determine your target customer.
Will your gift card program be more attractive to new or returning customers? You can use your Square Dashboard to see insights about how you might best utilize gift cards depending on who’s shopping, where they make purchases (online or off) and how much they’re spending.
Set some goals.
Look to your Square Analytics to determine the estimated quarterly sales for your business and then come up with a goal for gift card sales.
The more visible your gift cards are, the better positioned you will be for success. Think about your store setup and consider displaying them next to the register with clear signage. If you’re selling online, make sure you create a gift card section in the main navigation on your website.
Keep them in stock.
There is never a bad time to sell gift cards. Think about it — every single day is someone’s birthday. Plus, there are other year-round gift-giving occasions like weddings, baby showers, anniversaries and more. Use Square Analytics to keep track of how many gift cards you’ve sold so that you can place orders for additional cards before you run out. You never want to have to turn a customer away because you goofed on supply.
Customize them to the season.
Gift cards are particularly enticing to customers during the fourth quarter, when giving is at the front of everyone’s mind. But they are appealing for all holidays and seasons. Displaying rotating gift cards designed to fit different times of year might make them more attractive to shoppers. Square provides templates for all occasions as well as the option to create your own custom designs.
Monitor customer behaviour.
Square Analytics shows you customer behaviours and patterns, arming you with the details you need to make the best decisions about the price points of the gift cards you’re offering ($5, $25, $50) and the merchandise that you sell for those amounts. Square’s free Dashboard app allows you to do all this no matter where you are.
Gift cards are the gift that keeps on giving for you and your customers. Start making your own cards today with our handy guide.