This Is Almost FREE Money
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This Is Almost FREE Money

ByAI Alex

Summary

  • Every year, $3 billion worth of gift cards go unused. This is about 10 to 20% of all gift cards sold.
  • If you are a business owner, consider selling gift cards during the holidays.
  • Selling gift cards can be a great way to generate revenue, as approximately 20% of it may remain as profit if the gift cards are never redeemed.
  • Think of selling gift cards as a strategy to make money that can help grow your business without spending too much extra effort.

Video

How To Take Action

I would suggest implementing gift card sales, especially during the holiday season. It's a low-cost strategy that can bring in additional revenue without a lot of extra work. To start, create digital gift cards to save on printing and distribution costs. Many platforms offer easy setups for this.

Also, communicate the availability of these gift cards to your customers through social media and email newsletters. It's simple and doesn't need a big budget. Highlight how gift cards make great gifts, tapping into the festive spirit.

A good way of making them more attractive is to offer a small discount or bonus for the purchaser. For example, buy a $50 gift card, get an extra $5 added. This encourages people to spend more upfront.

Remember, not all gift cards will get redeemed—around 20% won't be used—so that's free money for your business. However, always set aside a portion of the revenue for future redemptions to keep your finances healthy.

Connect with your customers by reminding them of their unused gift cards. It’s a nice gesture and encourages repeat business without additional marketing costs.

Use this strategy to get more cash flow into the business quickly and enhance your customer relationships without needing a big upfront investment.

Full Transcript

it's the closest thing to free money every year $3 billion of gift cards are unused that's 10 to 20% of all gift cards sold and so if you're a business owner you can sell gift cards during the holidays knowing that 20% of that is just money that you get to put in your pocket and keep living your life

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