Many of us have been in the role of the customer, scrambling to find a gift for a person that is either difficult to shop for or when the situation dictates a very neutral gift, like a gift exchange at work. While most popular in retail settings, gift cards have gained entry into new types of businesses, including salons, spas, and restaurants. If you do decide to offer gift cards for your restaurant, what features should you look for in your gift card solution?
Restaurant gift card point of sale support requires using the right POS solution; one that can be leveraged to drive more traffic through your doors. These innovative tools will allow you to manage gift cards with a high rate of accuracy while contributing new cost-saving potentials and better customer service.
5 Factors to Consider Regarding Restaurant Gift Card Point of Sale Solutions
When examining potential POS solutions, there are five important facts that you need to consider when making a POS system decision.
Fact 1: Customers That Use Gift Cards Spend More
Customers that use gift cards will more times than not outspend the amount of the gift card when redeeming. The average overspend rate for restaurants is 13%, making gift cards a great marketing tool for jump-starting your bottom line. Gift cards also provide you with an easy way to market your restaurant, with gift card recipients becoming new (and potentially repeat) customers.
Leveraging gift cards brings in new customers who can provide valuable data regarding your business. You will obtain feedback from a fresh set of taste buds, allowing you to use that data to optimize your menus in order to serve a broader clientele spectrum. As a result, offering gift cards will open your restaurant to new channels of potential customers, helping you to gain stability and growth in your market.
Fact 2: Gift Cards Can Double as Loyalty Cards
An exciting and attractive feature of gift cards is that they can also serve as loyalty cards. Leveraging your gift cards as loyalty cards presents you with additional options to improve the rate of customer stickiness. The integration of gift cards, loyalty rewards, and top-notch POS technology allows you to offer enticing customer retention options, such as reloadable cards and personalized promotions based on order history.
Fact 3: Digital Gift Cards Provide Better Long-Term Value
An additional high-tech option that is provided by cutting-edge POS platforms is the ability to go digital with your gift cards. A digital gift card makes it far less likely that the card will be lost, and is a natural fit when offering reloadable gift card options or using them as loyalty cards. Going digital makes gift card redemption much more convenient, especially when a customer can easily add their gift card to their digital wallet for safekeeping.
Fact 4: Quality of Data and Predictive Analytics Increases Dramatically With POS Technology
Implementing a gift card program in your restaurant, when coupled with the latest in POS technology, can help you build a better set of data. In turn, this data can be leveraged to build highly accurate predictive analyses that will give you the insights required to proactively modify your menus and process flows.
Gift card usage—and their impact on your business’ income—is more accurately measured when using a POS system with data management capabilities. You can track important statistics and trends, including:
- What are the most popular menu items ordered with gift cards?
- Are gift cards used all at once, or spread across multiple trips?
- How often—and for how much—are gift cards reloaded?
- On average, how long does it take recipients to activate their gift cards?
- Who among your regular customers is most likely to purchase gift cards?
This short list of information that can be gathered from gift cards will give you an accurate look into which areas of your business are succeeding, and which need improvement.
Fact 5: Gift Cards Contribute to Improved Inventory and Product Controls
As stated above, a modern POS solution will give you additional sources of data that can be used to enhance all areas of your business. One important area that is often overlooked when it comes to data utilization is inventory management.
The addition of information gathered from those new to your business will help you to craft a menu that better meets the preferences of potential new customers. This allows you to present trending meal options while accurately aligning your inventory controls to keep pace with menu changes. With the right POS system in place, you’ll also be able to monitor the quality of menu items being served with a high level of precision from the convenience of a mobile app.
Ready to Add Restaurant Gift Card Point of Sale Services to Your Business Strategy?
Implementing and managing a restaurant gift card program will yield many advantages and benefits for your business. However, many of these potential benefits will only be possible with the right blend of highly capable POS tools to support your gift card program. But what does the right blend of POS tools look like, especially for the unique needs and challenges that your restaurant faces daily? The consultants at talech know. They will work with you to create a custom solution that will integrate seamlessly with your unique business model. Don’t let another business day pass—call talech to get started on building your restaurant gift card program today!
The POS experts at talech possess a blend of skills that will ensure a seamless restaurant gift card point of sale solution integration with your current operations. From streamlining business processes to implementing supportive POS technology, they will work to verify that your gift card program runs smoothly and offers you the maximum benefits possible.