For hoteliers, gift vouchers present an instant injection of cash into (now) ailing businesses. For guests, the offers are almost too tempting to resist.
Almost 30-35% of online gift vouchers are not redeemed. In US alone, the gift voucher the market is valued at USD$307* billion and expected to reach nearly 1923 billion by 2027**.
Now do your maths. With nearly a third of that not being redeemed, this is revenue that goes straight to the bottom line.
Gift vouchers do something else which is of great value – provide instant cash flow to businesses. In times such as now where the COVID-19 pandemic has left economies across the world in doldrums, this cash injection is just the lifeline many businesses need to sustain themselves till things become better.
What’s in it for the guests?
Driven by direct (commission-free) revenue and the need for cash, hotels offer fantastic packages via gift vouchers.
For travel buffs, these promotions are too good to miss out. The buy now, travel later combined with flexible terms for redemption is suddenly very appealing.
Gift vouchers are also ideal for those wanting to give amazing experiences to their friends and family or are last-minute shoppers. Easy to purchase online gift cards are perfect to attract this audience. No battling crowds in malls; digital gifting provides access to amazing experiences with a few clicks.
How to sell gift vouchers … without the operational fuss?
You need to invest in a gift voucher management system such as STAAH Gift Voucher Engine. Whether you’re a small property or large, STAAH’s Gift Voucher Engine plugs into your website as a completely customizable element. Mobile friendly and insights-driven, smart gift voucher management systems such as STAAH are designed to target the digital consumers.
Hoteliers have previously put off selling gift vouchers due to the cumbersome management process; STAAH makes this process easy.
Marketing gift vouchers: crafting the right message for the right audience at the right time
To maximise your returns from gift vouchers, you need to market right.
Promote your online gift vouchers with the right messaging at the right occasions, run targeted mailer campaigns or personalized communications. Also, engage with your guests at the right time in the right manner as they are the “influencers” who’d be happy to purchase your gift vouchers for their family and friends. Run marketing campaigns targeting your loyal guests, by carefully crafted emails, messages, and remarketing campaigns.
Create exciting packages, categories and add on deals to include – brunch, wine and dine, spa treatment, chef’s specials from your restaurants, breakfast deals, etc. These could be more fascinating and appealing to the guests while viewing online instead of the usual $100 or $300 gift voucher redeemable for any service at your hotel.
Go Social with your gift vouchers. Social media is the key channel for communicating with your audience, effective and efficient enough to target the right audience with respect to the region, age group, choices, etc.
Promote gift vouchers on your social channels focusing on your followers and even target group. Social media enables you to engage with a large at the same time right audience and with limited budgets, hence social media promotions are highly recommended. Hotel Gift voucher is an ideal offering for promoting on social media to create a buzz and drive engagement.
Remember, internal staff and front desk executives can also sell vouchers
On-premise is a huge opportunity. Don’t miss reaching out to your loyal guests – they have experienced your property and conversation from your office staff at the time of check- out which could easily lead to a sale. Vouchers should be available at all online and offline locations – registration desks, restaurants, outdoor areas, menu boards, and of course your website.
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*Persistence Market Research
**Allied Market Research