Want to build stronger connections with your clients? Then it's time to move gift card marketing to the top of your to-do list. This crucial part of sales enablement will generate the necessary attention from customers with many other benefits.
Gift marketing increases your sales, generates more quality leads, builds brand awareness, and increases customer loyalty. But that's not all. Gift card marketing is also an excellent opportunity to enhance the customer experience and make a memorable impression.
If you're looking to boost your sales enablement metrics, gift-giving can help win over customers. Here are some of the top ways you can use it.
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How To Get Success In Sales Today
Sales enablement involves creating an environment that helps your sales team succeed. It includes everything from tools and content to ensuring they have sufficient training and support from managers.
Many businesses invest in sales enablement to help salespeople be more adaptable, grow their networks, and negotiate effectively. Companies that do a good job at sales enablement have better sales productivity and higher customer satisfaction rates than those that don't.
Gifting is a crucial component of sales enablement that powers your marketing strategy. You can get closer to your customers and make them notice you through gift marketing.
Learn more about tracking your gift marketing and reasons to implement it in the next sections.
The 5 Gifting Metrics in Sales To Care About
When it comes to sales, metrics are critical for measuring sales performance over time. But what about gifting metrics? What do they say about your business?
Here are five metrics that will help you know if your gifting efforts are paying off:
A response rate is the percentage of people who respond to your gifting campaign.
It tells you how many people are interested in what you offer. If low, it means your offers are not attractive enough. If high, many people take an active interest in your products and services.
Notably, direct mail marketing (which is how gift marketing is done) is one of the most effective forms of marketing, with an average response rate of about 9%. So you can expect good numbers overall.
To determine the response rate of your direct mailing campaigns, divide the number of responses you receive from a particular campaign by the number of gifts you send.
A redemption rate is the number of people who use the gift card divided by the number of cards sent.
It measures how many customers actually use their gift cards. A higher redemption rate means customers utilize the opportunity to get a gift.
So what makes this metric so important? It shows that customers trust you enough to redeem their gift cards and make purchases from you again in the future.
Cost Per Conversion
It’s one of the most important metrics to measure your gift marketing campaign. The cost per conversion metric refers to how much it costs you to reach out to prospects and how many customers you acquire from the process.
A good cost per conversion should be small. Divide the total cost of gifts sent by the number of prospects who become customers to calculate the cost per conversion of the direct mail campaign.
The return on investment (ROI) for gift marketing is the amount you earn from each dollar spent.
Knowing how much each gift costs and how much revenue it generates is helpful for planning.
A close rate is the percentage of successful deals. To calculate it for gift marketing, divide the number of closed deals by total sales leads in your pipeline during a specific time. For example, if you had sent 1000 gift cards and closed 100 of them in a month, your close rate would be 10%.
If your close rate is low, you're probably not closing enough deals, or they aren't ready to purchase yet.
5 Benefits of Personalized Gift Card Marketing
The benefits of personalized gift cards are worth the investment. They're a great way to communicate your business offerings to the people that matter as a marketing instrument. Another strength of gift marketing is its ability to reinforce your brand advantage.
Here are some of the most notable benefits:
- Gift Cards Boost Revenue
Gift card marketing is a popular and effective way for businesses to grow their revenue. Gift card programs drive repeat business through customer loyalty programs. By offering customers incentives such as discounts on future purchases when they redeem their gift cards at your store, you encourage them to come back and spend more money with you.
If you are thinking of how to increase gift card sales, giving out some cards for free can do the trick. Alternatively, offer them at discounted rates. Can you think of a better way to get people to experience how convenient gift cards are and create more demand?
- Gift Cards Build Brand Awareness
Customers love personalized gifts because they make them feel special and unique. The same goes for personalized gift cards! If someone receives one of these cards from you, they'll remember the pleasant experience with your brand. Hence, they'll be more likely to recommend you to friends and family. The result is increased brand awareness and even more sales down the road.
- Gift Cards Generate Useful Data
When you give a gift card, the recipient has to use it within a certain period, which means they have to visit your retail store or website. It provides an opportunity to collect valuable information about how your customers behave and what kinds of products they like. That's the data you can use to improve your marketing efforts and find opportunities for growth in the future.
- Gift Cards Enable Customer Engagement
Gift cards have become a popular way for companies to engage with their customers. Gift marketing enables businesses to connect with their customers personally and can be used to promote new products or services.
Additionally, gifts also ensure that your company stays top-of-mind with your customers. Best of all, they're often more cost-effective than other types of incentives.
- Gift Cards Are Convenient to Distribute
The best thing about personalized gift cards is easy distribution. You don't have to be a large company with extensive marketing capabilities to distribute personalized gift cards. You can send the cards to the people that matter using direct mail marketing.
Inkit Send helps automate this process. It's an API you connect with your CRM and other marketing tools to generate, print, and deliver custom gift cards based on triggers. For example, when the customer places the fifth order on your website, the platform will initiate mailing to send them a greeting and a bonus card.
The automation lets you reach consumers on the scale and avoid the manual chores related to mail marketing.
Sign up for a free trial to see how Inkit Send works now.
The average American household gets more than 454 direct mail pieces every year.
That's a lot of paper going through the mailbox! But it's also how your business gets in front of consumers who might not see you elsewhere.
If you're looking for an opportunity to grow your business, learn how to generate gift cards and consider sending them using direct mail marketing.