Gift vouchers are a very powerful marketing and client retention tool for retailers plus service providers of all sizes, and they could be applied to a wide variety of situations, helping to improve cashflow and maximise your revenue. One of the most common applications is to market vouchers for gifting purposes : it not only guarantees business throughout your door, but can often result in untouched vouchers going straight to the bottom line. Research suggests that only 95% of all discount vouchers are redeemed.
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The 5% which are not redeemed often cover the price of having the vouchers printed.
Personalised vouchers act as an excellent advertisement for your company and they can help to keep customers returning to you. It is well documented it is far cheaper to retain an existing client than it is to recruit a new one particular. An added bonus is that customers making use of vouchers invariably spend more than the value of the voucher.
You could give a voucher as a reward to an existing consumer who refers a new customer for you, or send a voucher to past customers who haven’t produced a purchase for some time to encourage them to come back. Perhaps send a gift certification to customers on their birthday, or just run a seasonal promotion where you deliver a voucher to all of your customers and set an expiry date for the voucher to encourage quick purchases.
They can be used in conjunction with present in house promotions to reward do it again purchasing customers. Offering an incentive of a voucher to any customer spending more than £x during a fixed period, can drive up sales values as customers attempt to reach the spending threshold to gain the voucher. Discount vouchers can be used as a refund or credit score transaction to retain cash/profit margin within the business.
According to the Voucher Association, £3. 1 billion worth of gift vouchers are sold annually in the UK, producing massive profits for retailers and service providers. However , fraud is in the increase and millions are lost each year due to poorly produced discount vouchers, which can be easily replicated on home desktop publishing software. Despite this, protection is an area often overlooked simply by companies using gift vouchers, which is surprising when you consider that gift vouchers are as good as cash to retailers. It is therefore important to be able to verify that the voucher you are redeeming is legitimate.
There are a number of covert and overt features used by security printers to allow you to authenticate vouchers instantly. Covert features include watermarked paper, which provides a highly effective form of protection against counterfeiting, and it is difficult, if not impossible, to recreate by copiers and scanners. Security paper with this feature is distributed only to authorised manufacturers, making it hard for counterfeiters to obtain. One of the most effective protective measures against fraud may be the application of a hologram. Holograms include interest and value to a voucher, they offer quick visible authentication, are widely recognised and cannot be copied through photocopying or computer scanning services.
Specialist inks are also used to provide quick verification for vouchers. Invisible UV Inks are only visible under an UV lamp and thermochromic inks react to modify colour or disappear when subjected to heat (usually just by rubbing with your thumb). Microtext is extremely small textual content, not readily visible to the nude eye, and is used to authenticate a document with the aid of a magnifying glass. A mix of some or all of these overt and covert security features should preferably be used to produce secure vouchers that are protected against fraudulent conversion.