When marketing a business, the most popular promotions include words such as sale, discount, and free, but what are the repercussions? Those three little words insinuate that the product or service itself is not valuable and will decrease the amount of revenue for the business as a whole. It may even make a statement about the confidence a business has in its own product.
Over the last decade, the idea of paying for quality has increased drastically. As opposed to discounts, Promotion Vault uses high-value e-gift cards as an addition to encourage consumers to act without negatively impacting the product.
Promotion Vault is a financial service that is designed to save companies money without diminishing their marketing value. They provide e-gift card incentives to add to a business’s narrative. Promotions expire, but once redeemed customers can use their chosen e-gift card when they decide. This is not a rebate program, but an association with high-quality brands such as Amazon, Starbucks, Nike, and much more. Promotion Vault allows consumers to have the gift of choice whether that means a choice in a specific product or an experience such as Topgolf. Businesses who utilize their service save the money they would lose out on by using discounts and giving their product away, by only paying for the activation of each e-gift card.
Promotion Vault has found that generally only 50% of e-gift cards sent out are redeemed (a term referred to as “breakage”). Companies only pay for those redeemed and an activation fee. Think about an entire customer list and how many are on it. Next, give every one of them a 15% discount or something free and total how much the business lost in revenue. Instead, e-gift cards can reward customers for just about anything in order to grow client lists and more importantly, retain them.
Using discounts devalues your product. The utilization of highly perceived e-gift cards not only propels your business forward while saving money but by creating brand loyalty to current customers and leveraging your marketing plan to encourage new ones. That is the truth!
For more details schedule a conversation with Promotion Vault.