Gift Card Marketing for SMBs and Mid-Market Retailers
Gift cards have become a popular choice for shoppers and a lucrative revenue stream for retailers. For small and mid-market businesses (SMBs), leveraging gift cards effectively can make a significant impact on sales and customer engagement. In this blog, we will explore best practices specifically tailored to small businesses and mid-market retailers to help maximize their gift card sales and drive business growth.
Recognizing International Women’s Day as a Proud Woman-Owned Business
International Women's Day (IWD) is a global holiday celebrating the achievements women have made socially, economically, culturally, and politically around the world. IWD is an acknowledgment of the progress women have made as well as a call to action to keep pushing for equality for future generations.
Small Business Loyalty Programs Gone Digital
Today's hot topic: engagement
How can small business loyalty programs keep customers engaged?
Small Business Incentive Programs On the Rise
Small business incentive programs are growing rapidly. According to a recent article from Incentive Magazine, research conducted by the Incentive Federation revealed that a substantial amount of small businesses are now using rewards and recognition programs. The study asked businesses with at least $1 million in annual revenue about their goals, programs, awards they use, and how they measure whether or not their incentives are successful. Most of the smaller firms that responded to the survey spend less than $50K annually on sales incentive programs, whereas firms with revenue of over $10 million spend significantly more annually on their incentive programs. When it comes to the type of reward, electronics came in as the most requested merchandise reward, followed by food and beverage and apparel. Other popular choices were sporting goods, luggage, watches, and home decor.
Building Customer Loyalty, The Small Businesses Way
Customer incentives and rewards have long been a staple of retail loyalty programs, because they work. People buy more and stay loyal when they are thanked with a gift. Large corporations have also embraced loyalty programs as a way to retain customers and even grow, by offering incentives for customer referrals. One way to improve upon loyalty programs is to offer flexible gifts that everyone can use, like gift cards. Here are just a few of the high points:
