8 best practices to make your gift card program a success in 2021
Implementing a successful gift card program is three-fourths of the battle won. This e-book explores eight best practices that business owners in the retail & e-tail space follow during a gift card program launch.
But first, excerpts from the e-book.
IDENTIFIED BEST PRACTICES THAT WILL NEVER LET YOU DOWN
Your gift card platform is a payment platform
Make sure it has every security lapse covered. It should identify fraudulent usages, test offers, dip into market performance, analyze buying pattern, and do all this in real-time.
2. ROLLOUT, TRAINING AND MANAGEMENT
Your gift card processor is also your payment-processing partner
The success of your program launch depends on the preparedness of your payment-processing partner. Your partner must have a proven track record in creating and customizing go-to market plans as per your business needs.
3. COMPREHENSIVE SOLUTION
Today’s gift card is tomorrow’s reward card.
Select a gift card processor whose platform can support both gift and rewards programs. This helps you consolidate production, inventory and transaction costs.
Gift card programs are not set in stone.
They must evolve with the changing market needs. Personalize your gift cards to create positive brand connect. Use them to neutralize a bad buying experience.
5. ORDER FULFILLMENT
Beware of the last-mile lapses!
It is not enough if you can create gift cards. The main thing is to take them until the doorsteps of your customers. Choose a gift card processor who not only issues gift cards but also handles their fulfillment.
6. THIRD-PARTY DISTRIBUTION
Ever thought of pageants for gift cards?
Showcase your gift cards on prominent marketplaces. Make the most of these valuable spaces by uniquely packaging your gift cards. This is a proven way to boost your gift card visibility and sales.
7. VIRTUAL DISTRIBUTION
Gift cards are amphibious.
They can live as physical cards, live on customers’ email accounts as digital versions, live on a mobile wallet as the m-cards; they can even survive on an SMS message.
8. FRANCHISE SETTLEMENT
Whether you operate out of a central location such as a head office, have branches, or franchisees in a distributed set-up, a gift card program can help you get the best of both worlds. We call this the ‘centributed advantage’.
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