Gift cards and vouchers have shed their dated image and developed into a thriving £4bn industry, according to the UK Gift Card and Voucher Association. In the UK, nearly 80 per cent of retailers outsource their gift card programmes. Many B2B programmes now operate via cards issued by incentive agents such as P&MM, Grassroots and Edenred. Here are a few tips.
- Consider personalisation or customisation to boost the appeal of gift cards and vouchers.
- Switch from paper vouchers to plastic gift cards because these make it easier to capture customer data, monitor sales and introduce a loyalty scheme.
- Dismiss the opportunity of incorporating social media into your gift card or voucher strategy. Online voucher site Wrapp allows users to send free gifts and gift cards to Facebook friends using an app. Since its launch in 2011, over 2 million gifts have been redeemed in stores.
- Forget to hunt for the best gift card provider for your business. There is a huge variation in the type of schemes offered.