Here are some top tips on setting up a gift card scheme.
- Look closely at the financial benefits to your business, by working out the additional revenue that could be made from the incremental spend (according to the UK Card Association, the cardholder is likely to spend up to 40% above the value of the gift card).
- Consider how you want to convey your brand through the design and display of your gift cards.
- Choose a design that reflects and enhances your brand. Including the name of your business is a good way to get immediate brand recognition with your customers.
- Think about how many gift cards you want to purchase – eg, HSBC Merchant Services requires minimum orders of 100 cards, which means smaller businesses can take advantage of gift card schemes.
- Sign up for a scheme and you may be able to update your software or your card processing terminal, so that you are up to date with the latest equipment.
- More often than not, your gift card provider can deliver one-to-one training with your staff members, ensuring you are making the most of your gift card scheme.
- Display your gift cards in an eye-catching way at the front of your store to make sure all your customers are aware of your new service.
- Use your management system to gather information on the effectiveness of your scheme so you can review and tailor it to your business needs ongoing.
