By Adam

Gift cards have been and continue to be one of the best and most popular giveaways that businesses offer. Why is that? Because gift cards not only deliver a new revenue stream for businesses, but gift cards also help to increase consumer awareness, generate brand loyalty, and generate greater product awareness.

Here are some of the eye-popping statistics from CashCard that should showcase the true power of leveraging gift cards in your business.

– A customer is 2.5x more likely to purchase something that is the full price if they are buying it with a gift card.

– 72 percent of customers will be willing to spend more than the face value of their gift card. On average, a customer is willing to spend 20% of the total value on the card.

– 55 percent of gift card recipients end up visiting the store more than once to spend the entirety of what’s on their gift card.

As you can probably tell, these are some statistics that overwhelming favor using gift cards in your business. A social media campaign makes for the perfect way to get gift cards in circulation. What’s better, you can utilize the gift card campaign to get valuable information including their email addresses to market to them further. This helps you build out a valuable email list and build relationships with your prospective customers and customers to create a loyal following.

Here are some of the best strategies that you need to use when you are running this kind of giveaway over social media.

1. Show The Total Amount

One of the main things you need to do when you are running this type of promotion is to showcase the total amount. You need to be transparent about how much the gift card is worth. Whenever you are doing any kind of giveaway, you need to be precise about what they are getting and how much value it is. For example, Cafe DeLuxe was giving out a gift card and they strategically placed the total amount of the gift card two times in the campaign. This way, everyone knew how much they would get if they won.

2. Consider The Amount To Give

You want to ensure that you are creating a campaign that is going to satisfy the participants. How many people will be satisfied if they received a $5 gift card? Chances are not many. After all, a $5 gift card won’t even get you a coffee from a gourmet coffee shop. If you are giving out too little on the gift card especially relative to your product’s average prices, you aren’t going to generate the kind of results you were expecting from your gift card promotion. Not only is it not going to encourage people to participate, but they may not even want to spend the extra amount to buy whatever you are selling. Sometimes, it’s better to give more to see a better return on your investment. Keep …read more

Source:: Social Media Explorer

Author: Aaron