With the new Financial Year just around the corner, many businesses have started planning on how to boost their sales for the post stocktake period. To help you with your planning process, here’s an idea:
Why not run a cashback promotion that offers customers a branded Visa or eftpos gift card with their purchase?
As experts in running customer cashback program, 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 gift cards as a cashback reward or incentive has always proven to be a successful campaign strategy.
Here’s why:
- Cashback is not the same as a discount. 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.
- Gift cards are a branding opportunity. By customising branding your gift cards, customers are still likely to spend their cashback gift card on your brand, despite being able to spend it anywhere! With True Rewards’ Digital Visa Prepaid Gift cards, customers can easily add it to their digital wallet, which boosts recognition and loyalty to your brand.
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. - Visa and Eftpos gift cards are tangible gifts. 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.
- Customisable everything. You can support your gift card cashback campaign with custom design gift cards, emails, cardholder portal and cross-channel communications to maximise impact.
True Rewards, part of the iGoDirect Group, is Australia’s only one-stop-shop for end-to-end rewards and promotions. From concept development, promotion insurance, to technical implementation, pick and pack fulfillment, through to digital and physical rewards, we create a unified experience with insights into your customer experience.
Start your new financial year off with a bang! Speak to the True Rewards team by booking a demo or call 1800 043 656 to launch your cashback program now.
