From Gift to Gains: How to Sell Gift Cards (3 Easiest Methods)

From Gift to Gains

Are you sitting on a pile of gift cards? If you have unwanted gift cards and you are looking to get some extra cash out of them, then we have just the article for you.

With COVID-19 still a threat, you will find that people are less willing to visit shopping centers to purchase items. In part, as they are concerned about potential contact with others.

As a result, online shopping has completely blown up in the past year. If you have gift cards for places like Amazon, you need to know how to sell those fast.

What’s the key to helping you maximize the return on your cards? Read on and we will walk you through the best way to sell gift cards and get cash on the spot.

1. Creating the Right Pricing Strategy

Creating the right pricing strategy for gift cards is essential for the success of the business. Knowing the value of the cards offered, the desired markup, and the perceived value of the card should influence the pricing strategy. There are several methods to sell gift cards, but the easiest and most profitable approach is to offer attractive discounts to customers who purchase larger quantities.

Promotions such as incentivizing customers with a “buy three, get one free” approach can help build loyalty as well as generate higher sales. Additionally, setting a competitive price point can be beneficial, as people often don’t mind paying a little extra for something of higher quality. 

2. Leveraging Mobile and Online Platforms

Mobile and online platforms have revolutionized selling gift cards, making it easier to leverage their profit potential. Businesses in all industries have taken notice, as they can take advantage of a powerful marketing strategy by offering gift cards as rewards and incentives. With the right approach and technology, it’s possible to streamline the process and make it more efficient.

One of the quickest and easiest ways to do this is through mobile payment platforms. This allows customers to quickly purchase and redeem gift cards with a few simple taps.

Companies can also create an online store, which allows customers to purchase gift cards securely. But be aware that there is a gift card limit that you can send per transaction. 

3. Making the Most of Existing Customers

Selling gift cards can be a great way to make the most of existing customers. E-cards and physical cards are two of the easiest ways to encourage customers to keep coming back and make more purchases. With e-cards, customers can forward the gift card to their friends, selecting the delivery date, message, and amount they’d like to purchase.

With physical cards, customers can purchase the cards online and give the cards to their friends or family in person. Additionally, retailers can team up with third-party providers to expand their gift card program reach and make it easier for customers to purchase and use their gift cards. Third-party providers such as Visa and Mastercard take customers’ existing payment information, so customers don’t have to re-enter their payment details.

Follow These 3 Methods on How to Sell Gift Cards 

Gift cards are a great way to make money, additional revenue, and increase customer loyalty. By employing these three methods, you can easily start to sell gift cards and see a significant increase in revenue. Make sure to create a strategic plan that fits your business structure and capitalizes on the full potential of these gift cards. 

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