Giving gifts is an act of love; it shows that you appreciate the recipient’s presence in your life. Apart from gifting presents to partners and family, you can also give them to your co-workers, peers, employees. Although exchanging gifts is not a new thing, but this trend continues to evolve.
In today’s digital age, marketers have come up with the brilliant idea of presenting e-gift cards. These e-gift cards eliminate the need for buying a gift and save you from the hassle of going to the store. Let us explain to you what a gift card is and how it functions; these are prepaid cards that have a specific amount of money in it. A receiver can use it to purchase a gift of his choice from specified stores in the range of the card’s amount. Gift cards have also evolved, and E-gift cards are in trend today. Electronic gift cards are the computerized versions of conventional gift cards, where the brand sends a code to the recipient, and he is supposed to enter the code in the required field while shopping.
The outbreak of coronavirus has compelled us to stay indoors owing to the lockdown administered by our governments, and we are turning to e-stores for shopping. E-gift cards have enabled us to exchange gifts with our loved ones maintaining social distance and adhering to lockdown.
Business owners launch e-gift cards to raise awareness about their brand and attract customers. E-gift cards can benefit your growing business in many ways and put your business on the path of success.
Some of the benefits of e-gift cards that can help your business grow are listed below:
1. Boost Sales
One electronic gift card serves the recipient and customer simultaneously, which means that a brand has gained two customers from the sale of one product. It can boost sales by begetting new leads, and brands can market their services by running different campaigns, such as discounts or buy-one-get-one-free. Gift cards in nature are cross-promotional tools, and offering rewards on it can amplify your appeal to the customers. Some popular ones include; Virtual Mastercards and Visa gift cards. These tremendously helps your company in boosting sales and in superseding your competitors.
2. Build Relationship with Customers
Gift cards are versatile and can serve as membership cards too. When a customer uses a gift card to shop, you can offer him membership on the same card. This way, you can use your e-gift cards as a tool to build a strong relationship with your customers. A common form of dealing with complaints of customers is by offering them some compensation. You can use a gift card to settle customer complaints and restore the relationship between you and him. Customers generally file their claims on the phone or through email, and offering an e-card is a convenient option.
3. Brand Awareness
A gift card is a cost-effective way of advertising, which can bring your brand in the limelight without breaking your bank. Unlike conventional gift cards, you can send digital gift cards from anywhere. If your brand is offering delivery service, the recipient can receive it without stepping out of the house. Your existing customer may purchase your new product through a gift card, and if he has a pleasant experience, he might buy an e-gift card for his loved one. One gift card can take your brand awareness to a new level.
4. Earn New Customers
Businesses thrive when they gain new customers as they bring more business to your brand. E-gift card is an excellent way of turning users into regular customers. If a user has a great experience with your products, chances are he will return to you for his future shopping. E-gift cards pave ways to better customer engagement and work as additional marketing for your brand. E-gift cards could be a starting point of a long term relation, which means it will benefit your business in the long run.
5. Increase In Revenue
Generally, recipients of gift cards can go overboard while shopping and spend more money than the card contains. If a customer likes your product, he would like to try out other stuff as well and hence increase your sales. E-gift cards can have an option of loading amount by entering customer’s credit card details, which will give users the liberty of shopping even if they are out of cash.
6. Convenient Yet Secure
Electronic gift cards are tough to steal as they are usually in the form of code in an email. Unless someone has access to your email, it is highly unlikely that anyone can use your gift card. Whereas a common practice is that people put their cards in their wallets, and if someone steals your wallet, he can easily shop on your behalf, using your gift card. The convenience and security that e-gift cards give to your customers can win them over, and in turn, you earn their loyalty.
7. Improves Cash Flow
Cash flow report gives a clear picture to entrepreneurs about the performance of their ventures. Positive cash flow indicates that business is flourishing, while negative cash flow informs you that you need to revise your business strategies. E-gift cards are prepaid, and sometimes the recipients may not use the card, but it will not be your loss. Gift cards contribute to positive cash flow and enhance your brand’s sales.
Gift cards are getting popular as people now prefer to give liberty to the recipient to purchase a gift as per their choice. Sometimes a recipient may not like a gift and will not use it but is too shy to inform you. It would be the waste of your money, so gift cards are the better choice as they save from the hassle of return or exchange. Electronic gift cards are convenient to buy and redeem as customers can get hold of them without physically visiting the stores. They can work as a promotional strategy, and since today’s era is the age of digital marketing, a gift card can serve as a marketing tool while increasing your brand’s sales opportunities. Electronic gift cards help a business grow as they make things easier for everyone who is involved.