While gift shopping, do you ever wonder if your gifts will be used or appreciated? Do you ever think your gift might end up on the shelf or in a drawer for years or being rewrapped and given to some other person who may or may not have a use for it? Not only have most people given such gifts, they have received them. You can never know whether your recipient will like the gift you buy for them unless they tell you what to buy or you are close enough to them to know their situation really well, so when you aren’t sure, giving gift certificates can be a great option to consider.
Internet technology has made it simple, easy and quick to give gifts online. Online retail stores not only make it simple to access these gift certificates through their web sites, they also make it very easy for your recipients to redeem them online. This works especially well when you may have family members or very close friends out f town and you don’t see them often.
A gift certificate from a store with a large inventory of pre-selected quality gift items will give the recipient the best option to choose from many quality gift items the one he or she likes most. Ten reasons we find gift certificates to be special gifts are as follows:
1. Your gift certificate may be delivered to the recipient's address within a few hours and sometimes in minutes using online stores.
2. Most gift certificates may be used to purchase any product in the store.
3. Most gift certificates are valid for use only in the store in which they were bought, allowing you some control over how your money is spent.
4. Purchasing a gift certificate is as simple as finding an online store with the kind of gift items that fit the occasion and placing your order as you would for any other gift. (You will need to provide the contact information of the recipient if you want the store to deliver it for you).
5. Gift certificates come in many different denominations for easy control of the amount you spend. They are usually from $5.00 to $500.00. If you wish to give more you simply increase the number of gift certificates. There are usually no limits to the number of gift certificates you can purchase.
6. You can specify the gift and allow the recipient to pick the style, color or size when they redeem the gift certificate.
7. Your gift won’t be taken back to the store because the recipient received too many gifts like it.
8. The recipient of your gift will be able to use the gift certificate at a time that is most convenient for him or her.
9. With gift certificates you avoid shipping cost and potential damage to your gift during shipping.
10. Shopping online for gift certificates is convenient because you let the online store do most of the work for you. If you choose, you can have the store handle the long distant ones and you can have the gift certificates for local recipients sent to you to wrap and personally deliver.
There are many choices and options when you give gift certificates. You don't have to worry about your gift setting on the shelf for years or being passed on to someone else because the recipient couldn’t use it. You don’t have to worry about your gift being returned and you don’t have to worry about the recipient not appreciating your gift. The end result is the recipients are happy that they received what they wanted for the occasion.
Friday, December 4, 2009
How to Sell Your Gift Certificates
Gift Certificates can be a great revenue producer during the entire year, but your purchases will really increase around Birthdays and Holidays especially prior to Christmas. It is a great idea to feature this gift certificate sale right after Thanksgiving.
December can be the busiest month of the year if you effectively handle gift certificates. Let me tell you about a good promotion.
If you purchase a minimum increment of a $100.00 in gift certificates between Thanksgiving and the first of the year, you will receive a $20.00 “Bonus” Guest Certificate FREE. This twenty dollar bonus is a great way to boost your December sales. Some restrictions apply to the Bonus Guest Certificates. The Bonus Guest Certificates are only good from January 1st until March 31st and cannot be redeemed for cash. This is designed to drive your business on the first three months of the year which are traditionally three slow months. This promotion brings business in during this slow time and it encourages and drives the sales of gift certificates during December and a minimum of $100.00 increases the transaction size. Those Customers who used to spend $50.00 or $75.00 on gift certificates now spend $100.00 and then get $120.00 / $20.00 of which must be spent after the first of the year and before March 31st.
You may think that this is a big discount, giving a $20.00 ADDED Bonus Guest Certificate. But, you need to understand that ultimately 50% of the Guest Certificates do not get redeemed. The 16.66% discount amounts to only about 8% because not all of these Guest Certificates get used. The sales results will be very impressive.
You can promote the sale of gift certificates through your newsletter and through posters tastefully done in the Restaurant and on your website. If you have 10,000 customers and only 1% participated in the purchase of gift certificates at the minimum purchase of $100.00, this would be $12,000 in purchases. If you could enjoy a 10% return, it would be $120,000.
Putting a dedicated table in the entryway of the Restaurant would make it an easy way for your Guests to purchase the gift certificates and take the job away from an already busy staff. The sole responsibility of this Employee would be to sell the gift certificates. This would be a great temptation for your Guests to purchase while they are visiting your Restaurant. You would put the gift certificates in a nice gift envelope for the Customers, according to the dominations they want (i.e. $20.00).
The key to increasing and pushing the sales of Gift Certificates is through outstanding dining experiences.
If the Guest “feels good” about their dining experience and they see a table display sign like the one below, sales of gift certificates will soar during December.
One Restaurant location, after putting in the dedicated table, increased their Gift Certificate business by 37% for the first year and then an additional 6% the very next year. This has been a big boost to gift certificate sales. This has also dramatically increased the sales for the first quarter of the next year through the Guest Certificate.
The redemption on the “bonus” Guest certificates was only about 50% which puts your discount of 16.66% to 8.33%. If the Gift Certificates were given in $20.00 amounts it means that you would bring in five parties from the $100.00 sale.
Bonus Discount - The “Bonus” Guest Certificate only has a three month life. This is a very simple promotion and it works. By and large, the people who buy the gift certificates are loyal Customers and it gives you the opportunity to “reward” their patronage. The “Bonus” Guest Gift Certificate is a different size and color than the regular Gift Certificate. Regular Gift Certificates can be $20/$25/$50/$75 or $100.00 amounts. If the Guest did not have a preference, I would give them 5 - $20.00 Gift Certificates for $100.00 and 1 - $20.00 Guest Certificate . Any denominations can be combined to make the $100.00 special and then receive $120.00 worth of value. The redemption rate on regular gift certificates are about 80%, therefore 20% are not redeemed, while only 50% of the Guest Certificates are redeemed and they must be redeemed before 31st March the next year.
Gift certificates are the perfect solution for any special occasion. From celebrating birthdays, graduations and weddings to inspiring higher business performance, gift certificates are always a delight to receive. If you are unsure what to get for a person but you know what restaurant they like then Gift Certificates is the way to go.
December can be the busiest month of the year if you effectively handle gift certificates. Let me tell you about a good promotion.
If you purchase a minimum increment of a $100.00 in gift certificates between Thanksgiving and the first of the year, you will receive a $20.00 “Bonus” Guest Certificate FREE. This twenty dollar bonus is a great way to boost your December sales. Some restrictions apply to the Bonus Guest Certificates. The Bonus Guest Certificates are only good from January 1st until March 31st and cannot be redeemed for cash. This is designed to drive your business on the first three months of the year which are traditionally three slow months. This promotion brings business in during this slow time and it encourages and drives the sales of gift certificates during December and a minimum of $100.00 increases the transaction size. Those Customers who used to spend $50.00 or $75.00 on gift certificates now spend $100.00 and then get $120.00 / $20.00 of which must be spent after the first of the year and before March 31st.
You may think that this is a big discount, giving a $20.00 ADDED Bonus Guest Certificate. But, you need to understand that ultimately 50% of the Guest Certificates do not get redeemed. The 16.66% discount amounts to only about 8% because not all of these Guest Certificates get used. The sales results will be very impressive.
You can promote the sale of gift certificates through your newsletter and through posters tastefully done in the Restaurant and on your website. If you have 10,000 customers and only 1% participated in the purchase of gift certificates at the minimum purchase of $100.00, this would be $12,000 in purchases. If you could enjoy a 10% return, it would be $120,000.
Putting a dedicated table in the entryway of the Restaurant would make it an easy way for your Guests to purchase the gift certificates and take the job away from an already busy staff. The sole responsibility of this Employee would be to sell the gift certificates. This would be a great temptation for your Guests to purchase while they are visiting your Restaurant. You would put the gift certificates in a nice gift envelope for the Customers, according to the dominations they want (i.e. $20.00).
The key to increasing and pushing the sales of Gift Certificates is through outstanding dining experiences.
If the Guest “feels good” about their dining experience and they see a table display sign like the one below, sales of gift certificates will soar during December.
One Restaurant location, after putting in the dedicated table, increased their Gift Certificate business by 37% for the first year and then an additional 6% the very next year. This has been a big boost to gift certificate sales. This has also dramatically increased the sales for the first quarter of the next year through the Guest Certificate.
The redemption on the “bonus” Guest certificates was only about 50% which puts your discount of 16.66% to 8.33%. If the Gift Certificates were given in $20.00 amounts it means that you would bring in five parties from the $100.00 sale.
Bonus Discount - The “Bonus” Guest Certificate only has a three month life. This is a very simple promotion and it works. By and large, the people who buy the gift certificates are loyal Customers and it gives you the opportunity to “reward” their patronage. The “Bonus” Guest Gift Certificate is a different size and color than the regular Gift Certificate. Regular Gift Certificates can be $20/$25/$50/$75 or $100.00 amounts. If the Guest did not have a preference, I would give them 5 - $20.00 Gift Certificates for $100.00 and 1 - $20.00 Guest Certificate . Any denominations can be combined to make the $100.00 special and then receive $120.00 worth of value. The redemption rate on regular gift certificates are about 80%, therefore 20% are not redeemed, while only 50% of the Guest Certificates are redeemed and they must be redeemed before 31st March the next year.
Gift certificates are the perfect solution for any special occasion. From celebrating birthdays, graduations and weddings to inspiring higher business performance, gift certificates are always a delight to receive. If you are unsure what to get for a person but you know what restaurant they like then Gift Certificates is the way to go.
Monday, November 30, 2009
Use Magnetic Gift Cards To Skyrocket Restaurant Sales and Profits
Whoever created the idea of gift certificates was a marketing genius. The idea of taking someones money (which is valid anywhere) and giving them a certificate redeemable only at your restaurant was a pure stroke of brilliance. It made gift giving easy and guaranteed the restaurant profits either through redeemed or lost certificates.
The problem with paper gift certificates was that they took time to issue, track and redeem. Usually, the certificates were kept in a secure place and access was restricted to only a very few. If a certificate were sold, it took time to issue and interrupted the manager/owner to issue the certificate.
Tracking the certificates, which were usually sequentially numbered was critical as gift certificates could be stolen, forged and then redeemed thus creating a loss rather than additional profits. It was because of these problems that many restaurants stayed away from gift certificates and thus missed out on some huge marketing opportunities.
In recent years magnetic cards have taken the place of paper certificates. Balances were kept in a database, which were linked to the card via a number in the magnetic stripe. Some credit card companies have jumped onto this bandwagon offering gift card programs that act similar to a credit card. The balances are kept off site at the credit card processor. The processor then charges a transaction fee to add to/redeem the gift card. This fee can run between $.15 - $35 per swipe of the card. On small card transactions such as coffee houses these fees gouge deep into the profits of the sale.
A newer trend is to house the gift card balances at the store level. There is no transaction fee and virtually no time lost processing the transaction outside of the store. Any amount may be added to the balance of the card, thereby making the card reusable and not disposable. Your logo is on the card, making it a constant reminder of your restaurant every time the customer looks in their wallet.
The Need for Gift Cards
Restaurants need the ability to securely sell, track and redeem gift card transactions without transaction fees. Balances should be kept in-house. The customer should be able to add to their balance at any time, making the gift card like your own private debit card system.
The cards should be reusable and they should have your logo on them for a constant reminder of your restaurant.
The Solution To Manage Gift Cards
Many point of sale products now have optional gift card modules that tracks numbered paper certificates as well as issue, tracks, redeem and reports on magnetic gift cards. With the optional magnetic card reader and magnetic cards properly formatted for the software, you are able to take full advantage of this powerful marketing tool.
The gift cards should have your logo on them for advertising purposes. They also may be packaged for a nicer gift presentation. Some companies have even worked out reciprocal programs with other non-competitive companies to display gift cards at each others business.
The cards have no value until sold, thereby eliminating the problem of theft, forgery and redemption of stolen certificates.
The cards are reusable once fully redeemed. The customer may also add to the balance, thus creating your very own debit card system with frequent diners being able to continue to use/reuse their card on future visits. This have become huge in coffee shops where customers use their cards on a daily basis to make purchases.
Some point of sale products keeps the balances at the store level for single store operators. There is no need to process the gift card outside the store as balances are adjusted up or down at the end of the transaction. There are no transaction fees with this type of data storage.
For multiple store operators a few point of sale products have the ability to house gift card balances at a central location with every store accessing and updating gift card balances through high-speed internet connections. Even though the balances are being kept off-site there are still no transaction fees with our system.
The Benefit of Gift Cards To You
The potential for huge profits, additional sales and repeat customers are the overwhelming reasons to sell gift cards. Being able to private label the cards, add to balances and create your own debit card system make using magnetic cards for gift cards essential to a profitable restaurant operation.
Abandoned cards are also a huge area of realized profits. When balances get below $1.00 the system still recognizes them as active. However, customers tend to abandon their cards if the balances get below a certain amount. For some larger companies these abandoned balances along with lost cards equal millions of dollars per year in profits.
DirecTouch Point of Sale also allows you to set expiration dates on the cards issued. This helps create a sense of urgency for your customers to come back to redeem the cards.
Some restaurateurs will use gift cards as enticements to get people to try their restaurant. Instead of writing on the back of their business card the owner will put small balances ($5 or so) on cards and then distribute them to certain people to get them to try their restaurant. This is a great way to get people to come to your restaurant and much more secure than writing on the back of a business card.
The problem with paper gift certificates was that they took time to issue, track and redeem. Usually, the certificates were kept in a secure place and access was restricted to only a very few. If a certificate were sold, it took time to issue and interrupted the manager/owner to issue the certificate.
Tracking the certificates, which were usually sequentially numbered was critical as gift certificates could be stolen, forged and then redeemed thus creating a loss rather than additional profits. It was because of these problems that many restaurants stayed away from gift certificates and thus missed out on some huge marketing opportunities.
In recent years magnetic cards have taken the place of paper certificates. Balances were kept in a database, which were linked to the card via a number in the magnetic stripe. Some credit card companies have jumped onto this bandwagon offering gift card programs that act similar to a credit card. The balances are kept off site at the credit card processor. The processor then charges a transaction fee to add to/redeem the gift card. This fee can run between $.15 - $35 per swipe of the card. On small card transactions such as coffee houses these fees gouge deep into the profits of the sale.
A newer trend is to house the gift card balances at the store level. There is no transaction fee and virtually no time lost processing the transaction outside of the store. Any amount may be added to the balance of the card, thereby making the card reusable and not disposable. Your logo is on the card, making it a constant reminder of your restaurant every time the customer looks in their wallet.
The Need for Gift Cards
Restaurants need the ability to securely sell, track and redeem gift card transactions without transaction fees. Balances should be kept in-house. The customer should be able to add to their balance at any time, making the gift card like your own private debit card system.
The cards should be reusable and they should have your logo on them for a constant reminder of your restaurant.
The Solution To Manage Gift Cards
Many point of sale products now have optional gift card modules that tracks numbered paper certificates as well as issue, tracks, redeem and reports on magnetic gift cards. With the optional magnetic card reader and magnetic cards properly formatted for the software, you are able to take full advantage of this powerful marketing tool.
The gift cards should have your logo on them for advertising purposes. They also may be packaged for a nicer gift presentation. Some companies have even worked out reciprocal programs with other non-competitive companies to display gift cards at each others business.
The cards have no value until sold, thereby eliminating the problem of theft, forgery and redemption of stolen certificates.
The cards are reusable once fully redeemed. The customer may also add to the balance, thus creating your very own debit card system with frequent diners being able to continue to use/reuse their card on future visits. This have become huge in coffee shops where customers use their cards on a daily basis to make purchases.
Some point of sale products keeps the balances at the store level for single store operators. There is no need to process the gift card outside the store as balances are adjusted up or down at the end of the transaction. There are no transaction fees with this type of data storage.
For multiple store operators a few point of sale products have the ability to house gift card balances at a central location with every store accessing and updating gift card balances through high-speed internet connections. Even though the balances are being kept off-site there are still no transaction fees with our system.
The Benefit of Gift Cards To You
The potential for huge profits, additional sales and repeat customers are the overwhelming reasons to sell gift cards. Being able to private label the cards, add to balances and create your own debit card system make using magnetic cards for gift cards essential to a profitable restaurant operation.
Abandoned cards are also a huge area of realized profits. When balances get below $1.00 the system still recognizes them as active. However, customers tend to abandon their cards if the balances get below a certain amount. For some larger companies these abandoned balances along with lost cards equal millions of dollars per year in profits.
DirecTouch Point of Sale also allows you to set expiration dates on the cards issued. This helps create a sense of urgency for your customers to come back to redeem the cards.
Some restaurateurs will use gift cards as enticements to get people to try their restaurant. Instead of writing on the back of their business card the owner will put small balances ($5 or so) on cards and then distribute them to certain people to get them to try their restaurant. This is a great way to get people to come to your restaurant and much more secure than writing on the back of a business card.
Monday, September 14, 2009
A Look at Some of the Benefits of the Best Buy Gift Card
Best Buy is the largest retailer of consumer electronic in North America and it is also known as the big blue box. It has very many subsidiaries including in Europe, Asia and South America. The headquarters of the company are in Richfield, Minnesota. The company has huge plans to operate around 1,800 stores worldwide and 1,400 Best Buy stores in the United States. In 2000 the company received a lawsuit against them for misrepresenting warranties in an aim to sell more. The company settled with the 2 Florida consumers and never admitted to any fault. The business has been in existence since 1966 and, they have come a long way. They engage in many marketing tools and one of them is the use of Best Buy gift card.
Some of the benefits of Best Buy gift cards are that you will get to choose from a variety of different styles and therefore there is no monotony. The second benefit is that the cards can be redeemed in U.S stores or online. Your card can be reloaded at the stores in the U.S. Checking the balance of your gift card is easy and convenient because you can check this information online. When you buy online you can enjoy free shipping of your purchases and this is very helpful to a consumer who has a Best Buy gift card. You do not have to worry about safety because your product is protected from theft. Another thing you do not have to worry about is the expiry date or the maintenance fee making the Best Buy gift card is very convenient to have.
There are various categories of Best Buy gift cards and they include dad's day and any occasion, grads and congratulations, thank you, birthdays and many more. You will view every gift card on the Best Buy site and make a decision on what card is suitable for you. You will also see the new cards and get an opportunity to check your balance as well as redeem your gift card. You will enjoy great products from Best Buy and at an affordable and convenient way. Some people have expressed their dissatisfaction accusing the retail for giving in one hand and taking in the other. You can find the products they offer on their site and choose which deal is best for you.
You do not have to worry about a card not suiting your specific occasion because the cards will make it simple for you to choose for any occasion. For example, if you have a birthday, the cards are there to meet your need. Best Buy gift cars have a similarity with gift certificates and they perform the same role. There are many cards and certificates to choose from on their website and you therefore need to know what you want in a Best Buy card then purchase it. Making online purchases will help you save the cost of shipping and you need to consider such offers. However, make sure you have information on the product you are about to purchase because you might be tempted to purchase in so much haste. The certificates will go a long way to make your shopping experience easy and convenient.
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