Gift cards are usually the most profitable item in your business.
You must offer gift cards. Not gift certificates. Gift Cards.
No matter what type of business you have, you must offer gift cards to survive and thrive.
1. Increased Revenue. Gift cards provide additional income and higher tickets. On average, customers spend 35% more than the value of the card when redeeming.
2. Added Value. Customers choose gift cards over gift certificates more than 3 to 1. Gift cards are carried in a wallet and advertise your business. Your gift card is constantly promoting your business.
3. Reduced expenses. Gift cards are easy to load and reload and faster to distribute. Tracking is electronic and immediate. Also, cards are less likely to be altered, reducing fraud.
4. Returns. Refunds. Customer satisfaction. Give gift cards for returns instead of cash. Store value back on a gift card until redeemed. Use small cards to placate unhappy customers. Control and protect your cash flow.
5. Increased Profits. Small cards can be distributed to welcome new customers and reward loyal ones. On average, $2.13 of every gift card is not redeemed.
You must offer gift cards, not gift certificates, no matter what type of business you have.
ISIS Direct has asked me to consult with area businesses (Jacksonville and the Beaches) to add this new revenue stream or to shift from gift certificates to gift cards in time for the holiday season.
For more on gift card profitability for local businesses, please give me a call on my cell at 954.643.6998 or contact me at http://charleslamm.com/contact-me/