With the New Financial Year just around the corner, it’s time for you to start planning on how to boost your sales for the post stocktake period. To help you with your planning process, here’s an idea:
Run a cashback promotion that offers customers a branded eftpos gift card with their purchase.
As advocates for incentives and rewards, we love that eftpos gift cards can be used in a number of ways to meet multiple business objectives. In this case, to generate sales over a specific time frame using eftpos gift cards as a cashback reward or incentive has always proven to be a successful campaign strategy.
- Unlike discount promotions, cashback promotions don’t involve reducing the value of your products but instead, selling your products at full price with the offer for customers to receive a cashback once they’ve made a purchase. Using a cashback mechanic is an effective way to generate a boost in sales.
- By customising eftpos gift cards with your own brand, customers are still likely to spend their cashback gift card on your brand, despite being able to spend it anywhere!
Tip: Get creative in your marketing and show customers how they could use their cashback gift card if they are eligible to receive it. Showcase your amazing products and services in a way that will drive customers to spend their gift cards on your brand.
- Eftpos gift cards are a tangible gift. When your card recipients see the card, it reinforces the feel-good factor they associate with your brand. Compare this with cash payments, particularly ones via electronic platforms, where the “invisible” nature of the transactions do not link behaviour and reward in the mind of the customer and result in no positive brand reinforcement. Cash payments are also soon forgotten as they are wrapped up in the customer’s own money, regardless of whether it is in their account or wallet.
- You can support your gift card cashback campaign with a customised cardholder portal and cross-channel communications to maximise impact.
Start your new financial year off with a bang! Click here or call 1800 043 656 to contact RCT and organise your cashback program now.