Given the absence of client acquisition and onboarding costs, repeat customers are frequently among the most profitable customers. Gift card loyalty program isn’t a novel concept in retail businesses, but how consumers and merchants utilize them is rapidly changing.
Gift card rewards management platforms get customers into shops and encourage them to visit again. 53% of respondents said that gift cards inspired them to visit a store more frequently, and 44% said that gift cards prompted them to visit a store they wouldn’t have otherwise. This is true for millennials, who agree that they are more likely to visit a business than they would have avoided, with nearly two-thirds saying they are more inclined to visit a store more frequently.
Best practices to make your loyalty program platform worthy
Outline your objectives
The first step for marketers is to decide what they hope to achieve with their gift with purchase offer. Is the program’s primary goal to boost sales and engagement, generate new leads, raise brand awareness, or something else? Is this campaign intended to support a long-term action plan or fulfill a short-term goal?
Decide on a budget and priorities
To calculate their promotion and marketing expenses as well as gauge the effectiveness of the loyalty program platform, brands should define clear goals and budgets. Depending on their objectives, this could involve achieving a particular amount of new leads or award redemptions.
Establish inventory and offer
Marketers must choose their free gift depending on the interests of their target audience as well as the resources and budget of their business. When establishing the ideal inventory for the goods and presents they’re distributing and promoting, companies should plan for a rise in sales.
Create a marketing strategy
Brands could advertise their gift-with-purchase programs using email campaigns, display ads, social media posts, and in-store signage to enhance engagement. To increase brand awareness remember and persuade customers to spread the campaign, marketers might develop a catchy name, phrase, or hashtag.
Analyze the promotion results
In order to understand what went well and how they might improve. Marketers need to examine data and analyze their performance. Did they overspend or underspend on marketing? Did they succeed in building brand recognition, attracting new clients, or encouraging recurring purchases? They can then make use of this information to create new campaigns and enhance their client loyalty and retention plans.
Programs that offer gifts with purchases are the ideal method to increase brand recognition, boost sales, and reward loyal customers. Customers enjoy receiving rewards, which businesses can provide. Rewards can be provided as free goods, name-brand goods, gift cards, and other things in exchange for completed transactions. Gift card promotion assists businesses in gathering first-party data for use in future business and marketing choices, which drives growth.
Marketers may create successful promotions and make wise business decisions with the help of modules like Gift Cards & Rewards and Data Capture & Analytics. Contact Novus Loyalty Management System to find out more about creating and implementing a successful gift card loyalty program platform.