The e-gift card, advertised in store windows, is similar to those issued by malls: You buy it online and redeem it in the store of your choosing by mobile phone or an e-mail printout.
Toronto's Eaton Centre mall "does 100,000 a free google adwords voucher 2015 day, or some number like that, for gift cards during December and the holidays said Rob Sysak, the executive director of the West Queen West business improvement area.
A high-end jewelry store giving out 50 gift cards during the holiday season to doctor's offices, knowing the doctors are likely to come in and purchase an expensive product due to the gift card.Other strategies at play Gift and loyalty cards can be used in many unique ways.Mark rendell, special to The Globe and Mail.Sysak of the West Queen West BIA.So business members receive the full amount of money paid for the cards.In this article I will help you understand the costs, profitability and psychology of gift and loyalty card programs.Promote your business name on the card to new and existing customers.Other psychological benefits include: The cards create a "walking billboard" every time the carrier opens his or her wallet.What's more, they will probably use the gift card to buy an extra coffee for a friend or colleague.Enhance your cash flow, since gift cards are purchased prior to customers receiving their goods and services from you, you can re-invest these dollars back into your business.The psychology behind gift loyalty programs.
Under the new legislation expiry dates can only be used on a gift card if the card is given away during a promotion for a specific good or service.
Eliminate cashbacks on returns, instead of providing cashback for returns, you can provide your customers gift cards, with the amount of the refund loaded on the card.Typical gift and loyalty cards programs can seem pricey, but not if you understand how they work.This is no longer a business marketing method that is limited to larger companies, but a strategy that you can put to work in your business immediately.Then came the nuisance and cost of packing and sending the card, said.For example, Manitoba recently passed legislation that prohibits expiry dates or fees on gift cards.They could afford to give the cards away and still make a profit.Theyre guaranteed to fitevery budget and in every wallet.I will also outline some creative, real-world examples where smaller companies have used gift and loyalty cards to outmaneuver larger, chain-store competitors."Is it worth a little bit of points off the top?" he said, referring to the 8-per-cent cut taken by AnyCard.