Creatively building up the impact and recognition of your brand is a complex process. Online reviews and word of mouth recommendations, while effective, will have limits in both the reach and quality they lend to your voice. A better option that relies on your loyal customers while also allowing new customers to gain their own opinion, is the ability to launch a custom gift card program. But before you can do this, you need to have the right technology in place to support gift card management.
An advanced POS solution with a supportive gift card point of sale system will enable you to manage gift cards naturally across all aspects of your point of sale solution. A POS system that is geared towards handling the additional moving pieces of gift cards will possess seamlessly integrated functionalities that can in turn be leveraged as natural brand builders. And, they will present you with the ability to customize them to best suit your business.
Utilizing POS Data to Know Where You Are and Where You Are Going
Building a solid foundation in your business is important. Leaning on data to lead the way towards evolving with your customers requires having accurate, complete data at your fingertips. Having a POS platform that gives you the ability to perform near real-time monitoring and to interpret trends that are emerging with your business will be helpful in every aspect of your business. At a minimum, you will gain confidence that any course change you make is fully backed up by your business data.
Now, POS data may not at a glance have anything to do with implementing a custom gift card strategy, but don’t overlook it. Your ability to gather and analyze information can directly impact your ability to market and sell custom gift cards. Think about the term “custom” for a moment. In order to customize anything, you must develop a deep understanding of what your customers are all about. This comes from data.
Utilizing advanced, cloud-based POS technology makes the gift card customizations available to you almost endless. The data management characteristics of your POS system will enable you to monitor a long list of brand-boosting items, including:
- How gift cards are spent in your business
- Who is buying them
- Who is re-loading them
- Which of your custom gift options are most popular.
From here, you can hone your business strategy to reflect trending customer expectations.
Creating Customized Gift Card Options to Match Customer Expectations
Equip yourself with in-depth information about your customer’s spending habits. Blending this data with the information you obtain from the redemption of your gift cards will paint a clear picture of how you can further customize your gift card offerings. The completeness of these valuable insights will present you with proactive options to fine-tune your product and service offerings to better meet the expectations of current and potential customers.
Obtaining these valuable data points starts with understanding how to turn gift cards into sales. To start, users of gift cards are very likely to spend more than the value of the card. Also, it is highly likely that recipients of custom gift cards are receiving them from a regular customer. This takes the word of mouth sales to the next level, as a regular customer giving a custom gift card to a person essentially means that “I trust and value this business, and I will prove it by giving you money to spend there.”
Matching the data from the sale of custom gift cards with your transaction data will show you how the tastes of a would-be loyal customer match your present product and service lines. You can use these pieces of information to create personalized experiences during an initial visit and beyond, by matching what the gift card recipient has viewed, interacted with, or purchased. This gives you a springboard from which to launch your brand with a voice that tells the world that you can adapt.
Can Customized Gift Cards Build Customer Loyalty?
It has been well established at this point that customized gift cards can act as a draw to your business for both current and new customers. But what are you doing to keep these customers? Custom gift cards give you a higher probability of retaining customers, both old and new, through simple convenience. And, custom gift cards can utilize options that far exceed the traditional gift card’s ability to promote and grow the market value of your brand.
Here are just a few examples of how customized gift cards can be leveraged to build higher levels of customer loyalty:
- Digital gift cards (link to post) can be added to digital wallets, eliminating the risk of being lost or forgotten.
- Modern gift cards can be configured to support reloading.
- A key advantage of custom gift cards is their ability to serve as loyalty/frequent customer cards.
- The data obtained by using these cards can be used to generate white-glove, personalized specials for individual customers.
Customized gift cards have proven themselves to be a source of inexpensive and engaging marketing. Building up customer loyalty through the use of gift cards requires an in-depth look under the covers of your business through your data to quickly see what is working, and what is not. This will in turn give you the guidance required to make an accurate change of direction.
Gift Card Point of Sale Support Starts with Your POS Provider
Putting the pieces together on a custom gift card solution starts with building a strong foundation. Using advanced POS technology to manage all of the moving pieces of your business sets up your gift card program for long-term success and natural brand expansion. Doing so requires a particular set of expertise that is balanced across sound business experience and a solid understanding of emerging POS technology trends.
Choosing an expert in POS gift card programs is an important factor in using gift cards to build your brand. The broad experience and technical know-how that talech can offer will build a highly effective, customized gift card infrastructure that will boost the reach of your brand.