How to Incorporate Gift Cards To Reach Your Revenue Goal with our 4 Tips
From birthdays to celebrations gift cards are one of the best and most versatile gifts a consumer can ask for. Did you know that according to Statista Research Department, that there were 160 billion dollars spent on gift cards in 2018 alone? As a convenient gift for all customers, it’s no wonder why these plastic cards have become the most popular gift in recent years. From providing customers an easy gift idea to giving customers a perfect reason to come back to your restaurant, this can be the gift that keeps on giving for everyone- including your restaurant too.
Customers can spend up to 20% more
Everyone likes a good reason to treat themselves, especially if the funds aren’t coming out of their wallet. For instance, customers that use gift cards tend to spend 20% more than their gift card value. Who wouldn’t especially if you knew your bill was covered? By erasing the worry that their check is going to be too high, it encourages people to try that extra cocktail or appetizer they’ve been eyeing that they wouldn’t have otherwise tasted. Properly train your staff to try to generate more revenue by encouraging guests to order new menu items or to have a specialty drink while waiting for their food.
Opportunity to upsell
Don’t just think of gift cards as a one time sale. Instead, see them as an opportunity to encourage customers to spend more while dining at your restaurant. Let the customer feel empowered by encouraging servers to upsell additional goods to like a tasty appetizer, a bottle of your best wine, or finishing their meal with a mouthwatering dessert.
Vary your gift card values to gives customers more reasons to come back
Don’t have your customers worry about the right amount to put on their gift card. Take the stress off and offer guests an option to either add value to their gift card or have preset amounts ready for your customers to purchase. Start by offering customers the average ticket price to then double it to give a pricier option that can cover more than one person.
For instance, if the average ticket for one person is $25 offer a card with that set price or double the price to cover the fees of bringing a friend along or so they’ll have enough funds to come back. Have your biggest fan get the best gift or ensure that your customers are coming back by offering a $100 option.
Money goes straight into your restaurant – no matter what
According to a survey done by Lifehacker, 51% of people didn’t spend their gift cards because they didn’t have time while 41% simply forgot. Luckily for you, whenever someone purchases your gift card that money goes straight to your annual revenue. It can help your restaurant from losing unnecessary profit by creating upfront revenue and gives guests a reason to come back throughout the year.
While the holidays may be the most popular time for gift cards, there is no reason not to start building up your revenue by strategically promoting your gift card services throughout the year. Here are just a few easy tips that you could try today:
- Include the service at the bottom of your menu or add an insert to your customer’s check to ensure all of your customers are aware.
- Do you have customers that pay up at the front? Reflect your restaurant’s brand and layout your gift card options in a decorative display case
- Incorporate creative envelopes and packaging to give customers a sneak peek of what their experience is going to be like when setting foot in your restaurant.
Do you need a little help with design, printing, and marketing gift cards for your OrderCounter POS system? We can help you handle the entire fulfillment process, taking it off your hands so you can focus on running your restaurant. Reach out to firstname.lastname@example.org to learn more.