Yesterday I received a delightful email from Sephora. (The ladies will know this name well) So anyway, they sent me a gift card for $15 and I was smiling ear to ear. I mean who doesn’t like an unexpected gift? They gave me $15 to spend BUT I had to make a minimum purchase of $50 at one time for the $15 gift card to be valid. Can you say, “Brilliant!!!” What a way to encourage sales right?
I know, you may be thinking, “Natalie, what is the big deal? It’s just like a coupon.” But to me its not; It’s the way they laid out the email and gift card. The perceived value of a coupon versus a gift card is completely different (even if the discount is the same.) Wouldn’t you agree?
And from a business perceptive…It’s one thing for someone to get a coupon for $15, go into their store and only purchase a $15 item. But it’s another thing (great revenue strategy) to only make the card/coupon valid if they spend a certain amount with you. Same coupon concept but a higher perceived value with a gift card, which can result in higher sales. Sweet!
And by the way, I totally spent more than $50. Duh! lol
Hope this inspires you to create something similar! Here are a few tips:
1) Create a gift card graphic online (photoshop, picmonkey, fiverr, your designer etc.)
2) Make sure to add an expiration date and terms of use
3) Choose the amount of the gift card and clearly label it
4) Note the minimum purchase requirement for the card to be valid
5) Send (virtually) to past customers, prospects and share socially
This cost you little to nothing to do! Try it out and let me know how this works for you okay?
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