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Merchant Gift Card & Loyalty Program for Your Business
By Dat To
WHY HAVE A MERCHANT GIFT CARD MARKETING PROGRAM FOR YOUR BUSINESS...? WELL, SIMPLY PUT, GIFT CARDS: - Help you retain your existing customer base by expanding your product offering and the value of your brand with your merchant gift card itself - And also helps increase your customer base as loyal customers give merchant gift cards to their friends, family and co-workers on special occasions - Can increase your average sale amount (ticket price) when merchant gift card recipients over spend the value of the merchant gift card (this is called ‘uplift’) the ‘free money’ that they were given and simply pay the difference themselves. - In fact, studies have found that people will usually spend 10-30% more when using a gift card, which is known as "Uplift" in the industry. - Add to that the fact that 5-15% of all cards are never fully redeemed - a phenomena the industry refers to as "Breakage" - and you are left with even more profits from your merchant gift card marketing programs. - Merchant gift cards represent PRE-PAID CASH FLOW to you- Can keep sales in the store as they can be used for refunds - Are more secure than "certificates" - less cases of counterfeit - Are walking advertisements for your business, as customers give to non-customers your merchant gift cards - Are re-chargeable to put more money in your cash register for future sales - Make purchases very easy for your customers - Give a competitive edge over you competition by offering something that improves your business by many ways and also changing the perception of your business in the eyes of customers over your competition, because the ‘big companies’ all have merchant gift and loyalty programs - Merchant gift cards are one of the most popular gifts in North America. Just look at which companies have them and which don’t- is there a quality difference that either group represents?
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Contributor's Note
this was a post on my payment processing blog.
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This intel first appeared on: http://www.canadapaymentprocessing.com/merchant-gift-card.html
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The copyright for this content entitled "Merchant Gift Card & Loyalty Program for Your Business" has been specified by the contributor as:
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This content may not be copied, distributed or adapted by anyone under any circumstances.
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This intel was contributed by Dat To
Dat To
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May, 2012
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