Why Selling Gift Vouchers Is the Best Way To Keep Cash Flowing Into Your Hospitality Business
There’s no way around it: this has been a difficult time for many business owners, especially in hospitality. COVID-19 has cancelled spring and summer holidays, and with them the cash flow businesses depend on.
Throughout lockdown, we have seen gift vouchers continue to sell well for our hotel, restaurant, and holiday park clients. We’ve also seen a rise in website traffic and engagement in social and email campaigns. Why?
Your audience is captive, stuck at home and yet roaming the web more than ever, on the lookout for virtual distraction. Many are also searching for post-COVID holidays and reunions with loved ones.
With this in mind, we’ve put together our top tips to help you make the most of your gift voucher shop and keep the cash flowing into your business.
Extend the Validity
Your standard 12 month validity period is for standard times. And these are anything but. That timescale simply isn’t going to sell.
Give your customers the flexibility they need to book with confidence. Extend your vouchers to 18 months so they know they have time to redeem the experience.
That lengthened window could be the difference between a looker and a booker. So, don’t forget to shout it far and wide. You want every prospective buyer aware.
The same goes for your existing customers. Reassure those who have already purchased a voucher – contact them with a welcome extension of their voucher’s validity.
Communication is Key
Remember your customers aren’t mind-readers. If you are still selling gift vouchers, you need to tell them. Here are some ways you can reach them and drive traffic to your gift shop:
- share gift ideas via your social channels
- create gift guides and add these to your blog
- when you email your subscribers, be sure to include your previous voucher sale opt-ins
- add vouchers to your catalogue/shop on Facebook, so you can tag your vouchers in posts
Value Added Vouchers
Everyone likes more for their money. Offer an incentive to get customers through your door when it is safe to do so, and make revenue in the meantime. Crouchers Orchards in Sussex are offering Limited Edition Vouchers with an extra £10 reward. For example, spend £50 and receive a £60 voucher. It’s ‘win, win’: the business gets money now, the buyer gets more for their money later.
The future of re-opening hospitality is still not set in stone, but some businesses are still finding products they can sell. If you are offering takeaways or spa products, why not offer a complimentary gift voucher with a purchase? Majestic Hotel in Harrogate have done just that. With every home spa kit they sell, the customer receives a complimentary £25 spa day voucher to be redeemed when they re-open. This adds to the value of their current products and offers a neat incentive for customers to spend more with them when they re-open.
‘Thinking Of You’ gifts
We all need something to look forward to. Create a ‘thinking of you’ category in your gift shop where you can promote your bestsellers. Now more than ever, shoppers are looking for gifts they can purchase at home and send to a love one. This does just that.
Many people have had to cancel their plans due to COVID-19, including precious holidays. Some will be unsure when they can holiday again. But the appeal of a holiday isn’t going away. Why not offer a ‘buy now, travel later’ option? That way people can book stays and other experiences as normal but without a date restriction. It’s the perfect IOU holiday, which is in the bag ready for when this has blown over.
Gift Voucher Brilliance: immediate revenue, straight into your bank account
If you don’t sell gift vouchers or feel you could sell more, we are here to help. We work with clients across the UK, helping them to sell gift vouchers as well as their experiences.
Gift Voucher Brilliance gives you a bespoke online shop, which is designed mobile-first and easily accessed from your website. Your customers can browse an unlimited range of customised vouchers on the go, add their own personal message, and pay securely online. We also help you to identify bestselling and recommended vouchers. Please get in touch to request a demo with one of the team or to find out more.