When looking at ways to expand your small business and bring in new customers, a custom gift card program is a viable way to do it. With the increased popularity of online shopping, customers are looking for new and innovative ways to shop. A custom gift card program does just that.
Not only does it make it more fun and exciting, but it also personalizes the shopping experience. Every gift you purchase can be customized and feel unique. So with all that said, how do you start a custom gift card program for your small business? Let’s find out.
What Is A Custom Gift Card Program?
Before we give you the how allow us to explain what exactly a custom gift card program is. A custom gift card program allows any small business to make it easier for customers to shop with them. Businesses do this by handing out PVC plastic cards that look and function like debit cards. These cards carry a balance that can be used to buy a business’s goods and services.
The whole point of this program is to offer shoppers something in return. With every purchase a customer makes, they get something in return. This mostly comes in the form of points that the customer can redeem.
This is a type of eCommerce trend that works wonders in this day and age. A custom gift card program can encourage more spending as customers feel more valued and appreciated due to the reward system. So with all that out of the way, let’s see how to make one.
1. POS Integration
The first step when launching a program is to integrate the gift card in your point of sale (POS) system. Depending on the POS provider, you might find this option to be very easy or very difficult. Most POS providers do offer stores the option to launch a gift card program.
This option is marketed as a separate function, so it might cost you to launch it. But regardless, always go with a POS vendor that can offer this functionality. Otherwise, you will have to do it yourself. The obvious downside to this is that you might not have full access to the POS software to launch a gift card program.
2. Acquire Gift Cards
You will not be making the gift cards yourself. Since they resemble normal debit and credit cards made out of PVC plastic, chances are you lack the facilities to make them. Fear not as there is a whole established industry around the manufacturing of such cards.
Nonetheless, you must find a vendor that will sell you bulk PVC gift cards. The reason why you should purchase in larger quantity is that you should make it possible for every shopper to acquire one if they’re interested in that.
The last thing you want is to lack stock and leave people disappointed in your business. But even more importantly, you have to find a vendor that will make it possible to customize the gift card. After all, we are talking about a custom gift card program, with the emphasis being on the word “custom.”
For that reason, plascards.com can supply all of your gift card demands and focus on customization. Make sure to visit them and see what they can offer to your small business.
3. Read the Regulations
Don’t think for a second that the sphere of eCommerce doesn’t have its share of regulations. Before you launch a program, make sure to read through the regulations. An example of one regulation is that gift cards cannot expire for at least five years. Another regulation is that you can’t charge inactivity fees on them.
While the laws and regulations change constantly, be sure to familiarize yourself with them as you won’t be able to launch your program without it.
4. Track Analytics
The reason why you’re starting a gift card program is to track what customers do. Being able to analyze spending habits can help your business grow. So an important part of running such a program is training employees and acquiring software that can track analytics.
Benefits Of A Custom Gift Card Program
Now that we’ve given you the how, let’s see why you should be doing it. While we did mention briefly the benefits of a custom gift card program, the fact remains that such a program does come with more benefits.
Here are some of them:
Branding is everything in this day and age. Businesses benefit a lot by turning into brands. One way to do that is by having loyal customers. The more loyal customers, the more brand advocates.
By branding the custom gift cards, you are putting your name on a piece of plastic that customers see whenever they open their wallets. That increases brand awareness, and that can only be a good thing.
Giving customers something in return every time they make a purchase can only be a good thing. By incentivizing the customer to come back and shop with you, are making more money.
A custom gift card program does just that. Every time a customer uses your card, they get something in return. From loyalty points to unlocking cool rewards, incentivized spending is good for any small business.
The more customers feel incentivized to do business with you, the more they return for more. Repeat business is always good. While businesses nowadays focus more on the new customer, rather than the one they already have, custom gift cards do the opposite.
They reward loyal customers and make sure they come back for more. For the most loyal customers, you can offer promotions, discounts, and even dibs on new products. You can even reward customers with more credit once they’re all out.
Launching a custom gift card program can transform a small business and launch it to new heights. It can be a means to acquire new customers, while also rewarding the existing ones. Such a program can only be a good thing for businesses, especially smaller ones. So don’t hesitate and start one now.