Every consumer enjoys receiving presents from their preferred brand. What if there was a method to increase sales while simultaneously satisfying customers? An effective way to accomplish both of these objectives would be with a gift card campaign.
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The advantages of gift card marketing and thirteen actual gift card campaign examples are discussed in this blog article. We will examine the campaign’s terms and constraints in further detail as well as the creatives and copy. Let’s begin by giving a brief overview of gift card promotions.
Describe a gift card.
Prepaid cards, whether real or digital, can be used as gift cards instead of cash to make purchases of products and services. Customers usually buy them from restaurants, shops, and other establishments to use for themselves or as presents for others. Brands may also give gift cards to consumers as compensation for certain activities taken by their customers.
Campaigns using gift cards: what are they?
Campaigns using gift cards are ones in which you give your clients or prospective clients gift cards—not sell them. For instance, to entice new consumers to make their first purchase from you, you may offer $5 gift cards to each one of them. To encourage re-engagement, you may also provide inactive consumers $10 gift cards. Customers can get gift cards from you on important occasions like their anniversaries or birthdays. Gift cards can also be distributed as prizes in loyalty, referral, or giveaway programs. There are countless alternatives.
Why should you fund campaigns via gift cards?
Why do gift card campaigns occasionally outperform other kinds of marketing initiatives for sales? Giving consumers a gift card makes them feel special, while providing voucher or cart discounts feels more like a sales campaign. Furthermore, consumers are more inclined to utilize a gift card than a sales offer while making a purchase because of the endowment effect. It would be a “loss” for them to not spend the “free money,” but passing up a sales offer does not feel like “losing.”
Given that many gift cards expire before being used, gift cards may be a more affordable incentive for businesses than, say, free merchandise or money. Retailers only incur expenses when customers redeem their gift cards.
The size of the worldwide digital gift card market increased from $342.66 billion in 2022 to $405.17 billion in 2023, according to the Business Research Company. There is a growing trend in this area, with projections indicating that the market for digital cards would grow to $740.41 billion by 2027.
