As well as promoting your services and your brand, Gift Vouchers add profits directly to the bottom line. Customers redeeming vouchers invariably spend more than the value of the voucher. Figures from the UK Gift Card and Voucher Association have revealed that most people who spend a gift voucher in a store spend another 40%.
Your own personalised gift vouchers not only lock potential purchases into your business, but can often result in unused vouchers going straight to the bottom line. Research suggests that only 94% of all paper gift vouchers are redeemed, so the other 6% can often over the cost of having the vouchers printed. Personalised gift voucher printing is more affordable than you might think.
Improve customer loyalty
Keep customers coming back to you. It is far cheaper to retain an existing customer than it is to recruit a new one. Perhaps you could reward existing customers who spend a certain amount or even refer a new customer to you. Encourage past customers to come back to you with an incentive voucher. Send a voucher to past enquirers offering them money off vouchers. Show that personal touch by sending a gift voucher to a valued customer on their birthday, or just run a seasonal promotion where you send a voucher to all your customers and set an expiry date on the voucher to encourage quick purchases. Offering incentive vouchers to any customer spending more than £x during a fixed period will drive up sales values as customers attempt to reach the spending threshold to gain the voucher.
Attract New Customers
Satisfied customers will purchase gift vouchers for their friends and relatives, introducing new customers to your business, who may well do the same.