The gift card income stream for a salon business is only one sales funnel of many, but a pretty important one. It serves as a critical tool to grow revenue through current clients who purchase gift cards for friends and family, and (hopefully) turn into new committed clients beyond the initial gift card use.
According to a research study from July 2016, Research Study: Opportunities for Retailers to Optimize Gift Cards, by Listrack, “93 percent of consumers will buy or receive a gift certificate each year,” making it a “no-brainer” strategy to get people through your salon’s doors.
More specifically, gift cards are helpful for:
- Providing a simple and effective gift giving option for clients during stand-alone holidays (i.e.) Mother’s Day, “forced shop season,” or special events (i.e. weddings).
- Making additional money on gift card clients who are inclined to spend a little extra in addition to the “free money.”
- Generating revenue year-round when combined with creative marketing campaigns, bundled with on-hand inventory, or connected with a special experience (i.e. First Time Mom package).
In addition, gift cards offer an opportunity for salons to offer a personalized gift card for a specific service or group of services. Presentation is everything, especially in the salon industry. A personalized gift card featuring a set of services feels more thoughtful and heart-warming than a basic card loaded with a set amount of money to spend.
Remember, as a salon you are providing the gift of health and well-being as an experience for your guests. Services purchased on the gift card always link back to this main goal. With the option to purchase branded physical or digital e-cards, salon owners can appeal to a client’s desire to spend money on friends and loved ones who need a little extra self-care and pampering, while also making a positive brand impression.
Gift cards are also an easy thing to promote on social media and provide a simple gift giving solution. As a salon owner, you can also add in some unique incentives for a limited time to inspire more gift card sales. Both you and the customers win!
Watch the webinar to learn more specific, targeted ways to leverage gift card data and transform it into real-life strategies that help you make the most of gift card capabilities and integrate best practices to grow your salon business.