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A great way to acquire new customers while retaining the loyal ones is to set up a gift card program in your place of business. There are many benefits of a gift card that are often overlooked by merchants.

Appeal To New Customers

Gift cards are an effective way to appeal to new customers at a business that is accepting credit cards.  Gift cards encourage people who might not otherwise visit your business to take a look around and they are likely to return to make additional purchases.

Increase Brand Awareness

When your gift card is designed to match your company logo and brand, it works as a marketing tool in a customer’s pocket. As people purchase more gift cards for their friends and family on birthdays and holidays, your brand continues to be dispersed among new customers.

Improve Your Sales

Although gift cards are often set to a specific amount, many customers will end up spending more.  Gift Cards encourage customers to enter your store and browse products. Once they’ve started shopping, it is likely that they’ll end up finding a product that costs more than the gift card’s value. Paying only a fraction of the price is still better than paying in full, and your customer will leave satisfied.

Reduce Fraud

The use of an electronic gift card allows for partial redemption, leaving the rest of the balance stored on the gift card and eliminating cash backs. You can also use gift cards for store credit, eliminating fraud that occurs when customers try to make expired returns for cash. Issuing gift cards in place of cash encourages more sales.

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The gift card option is a merchant processing service that you shouldn’t pass up.  Learn more about how you can start a small business gift card program today!