Consumer behaviors have changed radically in the 2020s, including how they prefer to buy, use and give gift cards. You may be missing opportunities if you aren’t discussing the benefits of new gift card solution features with your clients. Although many merchants offer gift cards, they may not have the capabilities to meet consumer expectations or stay ahead of their competition.
Discuss these gift card solution features with your clients to see if they’re ready for an upgrade:
• Card design options: Custom card designs are essential. Part of the value of a gift card solution is your client’s brand visible in their customers’ – or potential customers’ wallets. A generic card or one that doesn’t do your client’s logo justice won’t help keep your client’s brand top of mind.
• Processing choices: Will the merchant swipe the gift card, read a QR code or scan a barcode? Make sure the gift card solution works how your client wants it to – and works with their POS hardware.
• Multistore capabilities: If your client has multiple locations, ensure the solution allows consumers to use gift cards at any of them. Consumers could throw their loyalty to other businesses if they can’t purchase gift cards for family or friends that can be used at any location.
• Multichannel options: Consumers shop and order on multiple channels, so it’s vital that gift cards work on all of them. Look for solutions with eGift options and social media integration. Also, ensure your client can accept gift cards through their app and read a barcode or QR code from a smartphone in-store. Finally, give your clients all the functionality they need to craft the experiences they want to provide to their customers.
• Fraud prevention: Loss prevention is crucial for a profitable gift card business. The solution should give your clients strategies for fighting fraud, such as monitoring activity, alerts, and options for user authentication, such as a PIN or CAPTCHA.
• Reporting: Ensure that the gift card solution has robust reporting features that allow your clients to analyze their gift card revenue streams. Data from a gift card solution should include insights into sales and whether gift card promotions are effective. Data can also reveal customers’ gift card redemption behaviors, including whether they spend more than the face value of the card. Data can give your clients the information they need to adjust their business strategy to their customers’ preferences and maximize revenues.
• Integration with POS and payment: When choosing a gift card solution for your clients, ensure it integrates with their point of sale (POS) and payments systems. The integration will not only make it easier for sales associates or cashiers to issue the cards and keep accurate records when consumers use cards, but it will also ensure seamless customer experiences. In addition, data from an integrated system will also be more valuable to your client, enabling, for example, analyzing data from gift cards with data from a promotions engine or loyalty solution.
The Right Gift Card Solutions for a Changing Industry
Technology advancements and changing consumer demographics are forcing merchants to adapt. In an omnichannel, connected, mobile world, consumers want gift cards they can access and use however it’s convenient for them. Give your clients the competitive advantage of a gift card solution with features that make the best customer experiences possible.