2020 has been a difficult year for many retailers and small business owners. Lockdowns have meant unforeseen closures, and those essential shops that haven’t had to close have often faced difficulties with suppliers.
Now, though, we’re starting to see the light at the end of the tunnel. The government’s new tiered system means a lot of shops and small businesses can stay open, so increasing footfall and easing cash flow is a priority for most. Even if you find yourself unable to open due to tier 4 restrictions, there are still ways of generating new sales.
At a time when many smaller businesses (and bigger ones, for that matter!) are struggling to survive, consumers are opting to shop locally more often. Buying local is likely to be the top choice among consumers in 2021, so it’s important that small businesses take this opportunity to stand out and to ensure that your customer can support your business even when you are closed.
Selling gift cards or having a loyalty scheme in place can encourage shoppers to visit your business over your competitors’. Marketing materials such as posters or stickers in your window can easily draw potential customers in as they can be seen from a short distance away.
But what else can gift cards and loyalty systems do? Well, once they’ve attracted customers into your shop, you’ll begin seeing a number of further positives.
What Can Gift Cards Do For Your Small Business?
Gift cards can provide a whole variety of benefits. They can be printed with your unique design and displayed with carriers to match so that your shop’s branding is enhanced. If you’ve used paper gift vouchers in the past, you’ll know how difficult it is to promote them when you need to lock them in your till for security reasons.
With plastic gift cards, however, the risk of theft is reduced, as they don’t contain a monetary value until activated. You can place them on your countertop or till area with one of our professional displays. Because of this, using a gift card system provides additional sales of up to 50% in comparison with paper vouchers.
Gift cards also increase footfall from first timers so you can gain new customers. It’s also estimated that 72% of people spend 20% more than the original value of their gift card, so for every £100 of gift cards sold, you could gain an extra £16.
There are significant benefits to easing cash flow, as money is taken up front and you don’t need to provide services immediately. Selling gift cards can also relieve pressure on stockholding capacity during peak periods.
It is estimated that between 7% and 12% of all money on gift cards is left unused, and this can be counted as 100% profit for your business. You can also use them in lieu of refunds – if a customer returns an item to your store, why not offer them a gift card instead of the monetary value? You will retain their custom and it helps you to keep a hold of your cash.
It’s important to remember that your customers can also benefit from their favourite retailers selling gift cards. Many people buy them as presents as they’re great if you don’t know what to buy someone, and they allow the recipient to choose their own gift. It’s also a quick way for customers to make a purchase.
What Can Loyalty Cards Do For Your Small Business?
Loyalty card systems are perfect to reward your customers for sticking by you in such difficult times. The way you choose to reward customers is up to you, so get creative and think about what people love about your business.
Roughly 88.2% of all consumers regularly use at least one loyalty card, and it’s estimated that members of loyalty schemes spend between 5% and 20% more than non-members to reach their reward. That means that investing in a loyalty card system could increase overall revenue by 5-10%.
Reward-It’s loyalty scheme is easy to operate in-house. You won’t need any additional hardware, as you can use your current till, computer or mobile device to scan cards. Having a loyalty card system also increases the reach of your marketing, as members of your scheme will tell their friends and family about the rewards they’ve redeemed.
Marketing is also a lot easier when you have a loyalty scheme, as you can use sign-up forms to collect customer data. You’ll receive reports to help you track and analyse purchasing habits, which in turn allows you to advertise new products or service and promote low selling stock.
You’ll have a direct line of contact to your customer, so you can set up email campaigns. Our loyalty card solution has the option for automatic triggered messaging for registration, birthdays and point balances, but you can also create your own campaigns to send to your whole database – or just those that fit the requirements.
Loyalty solutions will make all your customers feel like a VIP.
Printing Gift and Loyalty Cards For Small Businesses
If you’ve already got a gift card or loyalty solution in place, we can print plastic cards that are fully compatible with your current set up.
That means there’s no need to waste precious time investing in a new solution – just carry on as you are and we can provide your cards. With the option for us to design your artwork and a lead time of as little as 5 working days, this really is a versatile solution for high quality cards.
Investing in a gift card system or a loyalty solution is the perfect way to kick start your business in 2021, so please don’t hesitate to get in touch using the details below.
New customer? We’ll send you our POS display bundle FREE of charge with your first order to help you promote your cards.