Are you looking to increase your gift voucher sales but can't see past introducing discounts as your only promotion strategy?
Fear not, as in this post, we will not only prove how resorting to discounts every time is an ineffective long-term strategy, but we will also give you new ways to think about promoting your gift vouchers that will increase revenue and returning customers.
Gift card and gift voucher are used interchangeably, but typically they are representing the same thing. Let’s have a look at this in more detail.
A gift voucher is a piece of paper or electronic code that can be exchanged for a service or represent a monetary value. It is usually purchased by a customer and usually given as a gift to another person.
In the US market, a gift card is an umbrella term for referring to gift vouchers and gift experiences.
So when we also refer to gift cards, this includes gift cards exchanged for services and not just goods.
Another way to refer to gift vouchers is gift experiences or gift certificates.
Gift cards, Vouchers and experiences are all pre-paid and exchanged for a good or service at a later date.
“55% of your gift card sales will take place at the Winter seaonon between November and December.”- Enjovia.
So for this reason, it is imperative that you understand your market, products and customers to use promotions for increasing gift voucher sales.
It's straightforward to increase gift voucher sales without resorting to discounts.
Many companies will use discounts to increase their gift voucher sales. Discounting gift vouchers as a marketing strategy is a great way to spike your short-term sales. We are not suggesting you should never use discounts, but they have their time and place.
With gift voucher discounts, you will see immediate results because all customers love a good deal.
Long-term use of this marketing strategy can potentially cause your business harm, especially if you are in a luxury market. So it's essential to use discounting with caution.
This is because discounts can be addictive for your customers. If you're always offering discounts on your gift vouchers, they will grow always to expect a discount.
Even if they thoroughly enjoyed the experience of the voucher, they know they can get that experience at a cheaper price and they will wait until they see it at a discount again. And once they've experienced your services at that discounted price, they may not see the value in paying the whole cost- especially if they know they can get it so much cheaper if they wait for your deal to pop up as expected.
See the trap of using discounts over and over again?
So how can you increase gift voucher sales without using discounts continuously?
Promoting your gift vouchers effectively is quite simple, just add value.
It's effortless to add value to your vouchers. Sell them at full price and then include a little something extra. We call this an 'add-on'. This gives your customers a sense of exclusivity that only comes with the gift voucher they receive.
You can make the added value as big or small as you please.
"Get an exclusive VIP experience on arrival with complimentary champagne on ice."
To see an increase in gift voucher sales, only offer the experience for a limited period or even have a limited number of available vouchers.
Making something scarce or limiting the available amount of time you can purchase gives people a perceived sense of added value to the experience. Knowing the experience won't be around for long, creates a fear of missing out.
A time limit is a great way to entice customers to act immediately- not wanting to miss out on the additional value.
“Runs out midnight! Get ready for the party season this Christmas and treat yourself to gel nails with a complimentary bottle of bubbly”.
Also, limiting the number of gift vouchers available will create an illusion of exclusivity, which will make the buyer feel a sense of urgency to buy before they miss their opportunity.
Gift cards are another way of describing gift vouchers. Most gift cards are exchanged at a monetary value, but increasingly we are seeing the popularity of gift experiences arise.
Firstly, to get people to buy your gift cards, you should ensure your gift cards will provide value to your customers.
Shortening the steps between advertising your gift cards and the checkout process will increase sales! Increase gift voucher sales here.
Promoting your gift cards on social media is simple.
First, make it known you sell gift cards. So create awareness around your gift cards by:
To find more ways to advertise your gift cards on social media, see our post here.
Advertising your gift cards online is important. But it's equally as important to advertise at your location. Have your marketing for gift cards at every customer point. Great in-house advertising includes:
Learn more about in-house gift card promotions here.
A simple way to promote gift vouchers is to improve your digital marketing tactics.
Using Keywords in your gift card descriptions and titles will appear in Google searches, reaching the eyes of customers searching for a product like yours!
To find which keywords are searched frequently in your area consider using keyword tools. Keywords Everywhere, Answer The Public or Keyword Generator are some free or very low cost tools so you can become familiar with what people are searching.
Then, ensure you fill the relevant keywords throughout the product page.
You’ll soon get more organic traffic filtering through to your gift card product pages.
Adding value is a more profitable way to increase gift voucher sales in the long run for your business. Although it is okay to use discounts repeatedly, use them appropriately and sparingly. Don't put yourself in the position of only being able to sell your gift vouchers at discounts.
We hope you enjoyed our post on how to promote gift vouchers. For more information on increasing gift voucher sales, contact us at Enjovia. See you next time!