How gift cards increase your revenue – 5 Effective strategies

Gift cards are one of the most effective ways to increase revenue while also strengthening customer loyalty. However, many businesses overlook the full potential that gift cards can have for their sales and brand. In this article, we go through five strategies that can help you maximize the benefits of gift cards.

1. Improved liquidity and pre-sales

With gift cards, your business receives payment upfront, which can strengthen your liquidity. The money is already in your account before the product or service is delivered. This can be a significant advantage, especially during periods of lower revenue.

2. Attract new customers

Gift cards serve as a fantastic marketing channel, as they are often given to people who may not have previously shopped at your store or restaurant. This gives you the opportunity to introduce your business to new customers who could potentially become regulars.

3. Increase average purchase

Studies show that customers often spend more than the gift card's value when they redeem it. This is because they see the gift card as "free money" and are more likely to spend extra. You can take advantage of this by having attractive upgrade options and upselling strategies.

4. Implement digital gift cards

With a modern cash register system, you can easily offer digital gift cards that can be purchased online and redeemed in-store or at the restaurant. This provides customers with a more flexible and convenient experience while optimizing your sales process.

5. Integrate gift cards into your ordering platform

By integrating gift cards into your online ordering platform, such as through Weorder, customers can easily purchase and use gift cards digitally. This can be a game changer, especially for restaurants and takeaway spots looking to make it easier for customers to pay while ensuring repeat visits.

Conclusion

Gift cards are an effective strategy for increasing revenue, attracting new customers, and extending your sales season. By implementing digital solutions such as cash register systems and ordering platforms, you can maximize the benefits and create a better customer experience. Start integrating gift cards into your business today and see the results!