Many local communities have turned to Yiftee to establish Community Card programs that keep retail dollars within their community and boost local restaurants and shops with long-term revenue gains. These initiatives ensure retail dollars stay invested locally.
Bundled promotions with local businesses can make your gift cards even more desirable and drive new buyers back in by incentivizing buyers to introduce friends or bring family back, creating additional revenue.
They Help Small Businesses with Cash Flow
Gift cards can be an excellent way for small businesses to generate new revenue streams, providing customers with thoughtful gift options instead of cash payments during seasonal lulls and helping to increase brand awareness and customer retention.
Implementing gift cards into your business is an easy way to increase revenue, usually free apart from the cost of purchasing actual cards themselves. But for maximum effectiveness it is vital that a well-thought out program be implemented so your company reaps as many advantages as possible from this decision.
Closed-loop gift cards, which can only be redeemed at the place they were purchased from, are often the optimal solution for small businesses as they help prevent sales loss due to customer misuse or fraud. Furthermore, these reloadable cards can increase revenue over time as customers use them over and over.
Collaboration can also be an excellent way to increase gift card revenue. For instance, if your shop is near a coffee shop or spa, create a special promotion whereby if one business sells gift cards to the other they receive a discounted purchase price from each business – this can increase foot traffic to both shops as well as introduce each one to new customers.
Make sure that you publicize and display your gift cards onsite, encouraging employees to recommend them to customers and mention them on your website or social media platforms.
They’re a Great Way to Support Local Shops & Restaurants
Gift cards offer immediate revenue for your business and help to protect cash flow during slower periods. Furthermore, customers who receive gift cards typically spend 38% more than what was purchased; ultimately helping increase your bottom line over time.
Offering unique gift card designs can help set your restaurant apart in the market and encourage impulse buys from customers looking for last-minute gifts. Furthermore, seasonal and limited-time promotions can capture customer attention during prime purchasing seasons and increase gift card sales accordingly.
Integrate your gift card program into both online and in-store marketing efforts in order to raise awareness. Adding gift card icons or pictures on websites and social media pages may attract customers while in-store signage and table tents can draw customers’ attention to them.
Consider teaming up with nearby businesses (e.g., coffee shop and bookstore or spa and boutique) to cross-promote gift card offers and increase foot traffic to both brands while creating a more appealing overall offer for shoppers.
Digital gift cards are an ideal solution for restaurants with an active online ordering system, as they can be instantly purchased and redeemed. Furthermore, this form of card provides customers who would rather avoid carrying physical cards around with them an easy option.
They’re a Great Gift for Holidays & Special Occasions
Gift cards make an excellent present for friends and family members of all ages, particularly during holidays and special events. Furthermore, gift cards work perfectly as corporate client and employee rewards.
Merchants can drive holiday sales and build customer loyalty by offering gift cards as part of their holiday sales offerings. By creating cards that stand out with unique designs or packaging that enhance brand recognition, they can further encourage gift card purchases while building customer relationships. Finally, offering limited-time discounts or rewards on future purchases may further encourage gift card sales and foster customer retention.
Giving gift cards as presents introduces new customers to local shops and restaurants, inviting them into your world while encouraging word-of-mouth recommendations and social media interaction. Gift cards can also help attract shoppers with limited mobility who may find it hard to access stores directly; gift cards provide them with access and encourage spending.
Merchants looking to maximize gift card sales should include links for purchasing them on their websites or email campaigns, or partner with local organizations in promoting them such as Yiftee (community gifting program) which helps keep dollars within local communities by selling custom branded gift cards that can only be redeemed at participating businesses. Yiftee works with more than 500 Chambers of Commerce, Main Streets, Downtown Associations and Visitor Offices nationwide so their members can support local business easily.
They’re a Great Way to Discover Hidden Gem Businesses in Your Area
Gift cards can be an instantaneous and effective way to generate revenue and draw new customers into your business. Customers often spend more than the value of the card, leading to additional sales for you. To make the most of your gift card program, train your staff on how to sell them effectively using role-playing scenarios as an effective training method that allows your employees to practice selling techniques on real customers.
One way to encourage gift card purchases is to offer incentives, such as buy one get one free offers for future visits after the holidays have ended and build brand loyalty. Furthermore, make your gift card program as visible as possible by publicizing it across channels such as social media and email campaigns.
Gift cards are an effective tool that can help small businesses weather difficult times. By supporting local shops and restaurants with gift cards, you can help keep dollars within the community while supporting job growth. So if coronavirus concerns or social distancing has you avoiding visits to favorite local restaurants or cafes, why not purchase gift cards instead and use it later when the crisis passes and these businesses require your patronage once again.