What Are the Benefits of a Gift Card Program?
Gift card programs are shown to have a high return on investment (ROI) and increase revenue for a few key reasons, including:
- Boost your brand: Offering gift cards is a means of promoting your company’s brand, and it can even bring in new customers. Those who purchase gift cards are likely to give them to family and friends, meaning they are marketing your business and sending new customers your way. Even better, they are paying you for the opportunity to do so!
- Retailers get paid upfront: Gift cards enable retailers to get paid upfront regardless of whether the card’s recipient ever chooses to redeem its value. This means your business is profiting even if that card sits unused.
- Increase revenue: Did you know customers are more likely to spend the entire amount of money on a gift card than all the expendable cash they have on them? That is because while spare cash could be used elsewhere, your gift card can only be used at your store. This provides an incentive to spend more.
- Customer convenience: Gift cards are often more convenient methods of payment, especially where cannabis remains a cash-only market. Since many consumers do not carry cash anymore, a gift card makes the buying process easier for them.
How It Works
Gift cards remain an effective way of making upfront sales and attracting new customers, and the industry is only expected to grow in the coming years.
At Paybotic, we offer gift card solutions for both brick-and-mortar and eCommerce cannabis businesses looking to offer their customers more options. When setting up a gift card program for your company, Paybotic ensures all details are compliant with federal and state regulations surrounding cannabis.
Different types of programs Paybotic offers include:
- Promotional cards
- Reloadable cards
- e-Gift cards
- PIN Security
Setting Up Your Gift Card Program
With the help of Paybotic, setting up a gift card program for your dispensary is a straightforward and easy process:
- Set up your gift card program with Paybotic.
- Design and order your gift cards.
- Place your gift cards in a visible area of your dispensary.
- Market your gift card program in person and online.
- Train your staff to sell your gift cards.
- Track gift card sales and measure progress.
What are the benefits of adopting a gift card program?
Gift cards have been shown to have a high ROI, increase revenue, boost your branding and marketing, and make payments easier for customers.
Will my gift card stay in compliance with cannabis laws?
Paybotic understands the importance of complying with cannabis laws at the federal and state level, and we ensure your gift card program follows all necessary regulations.
How can I get started?
If you are looking to set up a gift card program for your marijuana dispensary, fill out the form on this page to get started. You can also contact us for further information.
Contact Paybotic at 844.420.4729 or fill out a contact form to get in touch with our sales team to learn more about our payment solutions.