Gift Cards Program for Square, Phone Swipe, GoPayment, etc...
A Gift Card Program are one of the best most profitable tools you can use to market your business, however, if you use Square, Phone Swipe, or any other mobile payment application to accept credit cards your business has been missing out...until now! Before I can get into how your business can sell and accept customized gift cards at NO cost lets take a look at how gift cards are not just a great way to increase sales, profits, and customer loyalty but some ways that they can be used to market your business.
Companies like Square and Phone Swipe revolutionized the way that business owners accept credit cards, especially for those businesses who are on the go. Previous to this technology businesses like farmers, hobbyists, artists, hairdressers, and countless other small, independent, or mobile businesses were stuck with using expensive equipment with high monthly fees to accept credit cards. Square, Phone Swipe and a few others created a mobile payment platform that was not only efficient but was affordable and did not require expensive wireless terminals. Now that these merchants have an affordable way to accept credit cards, isn’t it time that they should be able to use that promote their businesses with gift cards?
So how can selling gift cards benefit your business?
5 Ways a Gift Card Program Will Benefit Your Business:
1. Custom Gift Cards more than pay for themselves through Slippage. Slippage or Breakage is the unused amount left on gift cards that never gets spent, creates pure profit for your business. As a matter of fact the national average can be as high 19% of the original purchase amount (during the holiday season) according to Consumer Reports. In our experience, here at the Merchant Doctor, the year round average varies from business to business (depending on type and merchandise) is in the 10-20% range. As an example of slippage lets consider the national average gift card sale amount of $25. If your business sells 100 gift cards and the average of 18% don’t get redeemed then your business would profit $450 in slippage!
In addition to slippage, unlike using Gift Certificates, customers do not expect to get cash back and there are no log books that have to be kept for tracking balances which eliminates the potential for costly mistakes.
Gift Card Marketing Ideas
- Radio Station Giveaways for Free publicity
- Donations to local charities and fundraisers
- Customer Appreciation giveaways
- Customer Birthday presents
- Increase sales promotions (ie. buy a $25 gift card and get $30)
- Hand small value cards out as business cards
- Send them out as a thank you business associates
- Use them to build your social media empire!
- Trade (put your gift cards in a neighboring business and in return place theirs in yours).
2. A Gift Card Program is great for both passive and active Marketing opportunities and general consumer awareness. Your custom gift cards are like a walking advertisement. Not only are your already loyal customers likely to purchase them for friends and family that may have never been to your business but you can use them in any number of ways to promote your business. From radio station giveaways, non-profit donations, customer contests, holiday thank you's the marketing opportunities are virtually limitless. With a little creativity gift cards can be your most affordable marketing ally!
3. The numbers are in and custom gift cards have been proven to Increase sales. Not only do they make a great impulse buy, but, many people using their gift cards will spend more than the balance on the card. Surveys have also shown that gift card holders are also more likely to purchase a full priced items rather than wait for them to go on sale. So whether your customer doesn't redeem the full value of the card or they spend more than is on the card, at full price, your business wins!
4. Integrated Loyalty Promotions will increase the amount of repeat/return visits. Most gift card program have the ability to create and incorporate loyalty programs. Customer loyalty programs are a great way for you track and reward your loyal customers resulting in better word of mouth advertising, more frequent repeat visits, and are great for highly targeted marketing opportunities all of which lead to higher sales.
5. Gift Cards reduce returns! According to the National Retail Federation, about 9% of holiday gifts are returned every year. Since gift card recipients are choosing their own gifts returned merchandise is greatly reduced. This helps you avoid the high cost of restocking items, incurring more credit card processing fees, and possibly having to try to sell the returned item at a deeply discounted rate.
WOW and that’s only 5 of the many ways that custom gift cards benefit your business!
Square's Gift Card Program - Offers NO benefit to the small business owner
Square has made an attempt to integrate gift cards into their app, however, the gift cards that Square is promoting are simply a convenience to the consumer and an income stream for Square with little to no benefit to the small business owner accepting the Square gift card. This is because the card is good with ANY merchant using the Square payment platform. Their gift card does not take advantage of any of the benefits listed above or the endless other ways that a business can use the gift card to promote their business. So what are you to do if you are using Phone Swipe, Square, Intuit GoPayment, PayFox or any of the numerous other mobile payment apps to accept credit cards?
How to accept custom gift cards with Square, Phone Swipe, GoPayment, etc...
Well the Merchant Doctor has the answer for your business. Whether you want to take advantage of the best way to accept credit cards on your iPhone, iPad, Android, or Blackberry or if you would simply like to start increasing sales and promoting your business with custom gift cards we have a great gift card program for you. Best of all you can sell and accept our gift cards with absolutely NO Processing Fees!
That’s right no matter how you accept credit cards you can start selling custom gift cards for your business right away and best of all, unlike most gift cards, there are NO processing fees! The Merchant Doctor in partnership with the Gift Card Ape have created an app currently available on iTunes and coming soon to Google Play for Android. So how does it work? Simple, first visit us at Gift Card Ape and sign up! After you have placed your order you will be sent unique login credentials to the app, then download the app to your iPad, iPhone, or iTouch and login. Your gift card - card reader will be promptly sent out to you and your gift cards will arrive in a week or two.
To sell your new gift cards simply use your Square, Phone Swipe, Intuit GoPayment, or any other method to accept payment then load the gift card by plugging in the Free card reader, open the app, and load the gift card with the amount purchased. That’s it! No more having to make, print, and fill out a gift certificates then record the sales into a logbook - now all of your gift card sales reports are easily accessible through the app.
Get Started Today!
To get started all you have to do is CLICK HERE, select the plan that is right for your business, whether you would like to have Simple, Pre-Formatted, or Fully Custom cards. Then fill in your company and payment information - That’s it! You’ll be accepting gift cards in no time and best of all there are NO PROCESSING FEES!
Finally merchants using app based platforms to accept credit cards such as Square, Phone Swipe, Intuit GoPayment, and the many payment platforms available have access to a gift card program that will help their businesses flourish. The Merchant Doctor is incredibly happy to be able to offer this capability and even better we are happy to do so with absolutely NO Processing Fees!!!!
If you have any questions feel free to contact us directly at the Merchant Doctor.
More by this Author
Find out who comes out on top when it comes to being able to accept credit cards on the go - Square or Phone Swipe with the Merchant Doctor. A honest comparison of the two services.
The Cannabis Industry is full of difficulty for entrepreneurs, however, The Merchant Doctor is proud to announce that they make things easier with equipment leasing options and credit card processing.
Square is no longer PCI compliant under the latest guidelines. What this means to Square, to you, and what are your options.