Loyalty programs have been around for a very long time, but today, they’re everywhere. Our wallets are now packed with plastic and paper designed to get us some sort of discount from the stores and brands we love, and with good reason – loyalty cards work. They’re extremely popular with customers because people love discounts, and they’re a gold mine for merchants because they offer significant benefits to both the bottom line and the building of customer relationships. In this article, we’ll take a look at some of those benefits, as well as how merchants can get started with their own loyalty programs today.
Sometimes you just don’t have the time or personal knowledge necessary to purchase someone a truly personal gift, and in those instances, nothing beats a gift card. They’re kind of like cash, but not nearly as impersonal, and the convenience they provide for the giver and recipient makes them incredibly popular. But gift cards aren’t just good for your customers, they’re also good for your business, and they can impact everything from customer satisfaction to the health of your bottom line. Below are three undeniable reasons your business can’t afford to ignore these little plastic revenue drivers.
Every marketing strategy your business employs requires insight and data analysis. It’s hard to understand what drives consumer behavior without knowing the consumers. If you can’t track spending and customer behavior, then you have to wait and hope for sales instead of driving sales. But if your company offers consumable products and services that are popular for gift cards, you have another layer of consumer obscurity to penetrate because you’re dealing with two very different customer personas.
Gift cards have only been around about 20 years. Before that, is was paper gift certificates and not many of them, as the giver preferred a more “personal touch,” meaning that actually going to the store and purchasing the gift was not only more labor-intensive but more “thoughtful.” As more establishments began offering gift cards, the variety was embraced by the general public and they took off fast and hard. At this time every store, restaurant and sub shop we enter has their own gift cards to purchase, and many sell a multitude of others. We, the public, have determined that gift cards are good, but of course the less scrupulous among us have found ways to defraud consumers and those same stores, restaurants, etcetera. BAMS can help you get set up to begin selling gift cards immediately.
Companies are constantly looking for ways to increase morale among their employees. Whether it’s recognizing hard work, a Christmas or birthday present or simply saying “Thank you!” for sticking with the company. The giver wants a unique way that will be appreciated and remembered. That’s where original gift cards come in.