As you continue to fill in the blanks on your 2021 promotional calendar, be on the lookout for unique opportunities to stand out from the competition. If you sell pancakes and find out that March 4 is National Pancake Day (which it is), you should consider running a promotion on that day.
On the other hand, major holidays are called “major” for a reason—people spend a lot of money during these holidays, which means there’s a lot of revenue out there.
There’s Revenue in Romance
Let’s look at Valentine’s Day, for example. In 2021, US spending for the most romantic holiday of the year is expected to reach approximately $22 billion.1
Where will those romantics decide to spend that money? For online purchases, 74% of Americans say offers are a top factor when deciding where and what to buy.2 And 62% of consumers say they can’t even complete a purchase before searching around for some kind of offer. 2
That means promotions have a lot of power, which brings us back to you and your promotional calendar.
The Right Promotion—for You
In today's world, gift cards are more desirable than ever. Whether physical or virtual, gift cards are safe and easy to purchase, and still exciting to receive. And when you can do it all on your phone, that’s even better.
So which type of gift card promotion should you run this Valentine’s Day? Well, it depends on your business goals.
- You want to sell more gift cards.
Our partners have seen incredible success with simple Give One, Get One promotions—average increases of more than 85%!3 When the customer buys a card as a Valentine’s Day gift, they get a smaller card free to use as they like. Discounting cards also works well.
- You want to increase basket size.
In this case, you reward customers for spending at certain levels. If they spend $100 on their Valentine, for example, they get a $20 gift card for themselves. In addition to increasing basket size, it also drives incremental visits.
- You want to drive more app downloads.
Rewards don’t have to be big to yield big results. When Dunkin’ partnered with T-Mobile to offer a $2 gift card, Dunkin’ app downloads and loyalty enrollment doubled. (And, yes, donuts are very romantic.)
- You want to get customers in-store.
We all want to get customers back in-store. If they make their Valentine’s Day purchase online, give them a $10 gift card to pick up the order in-store. Not only does this increase traffic, it also leads to shopper upspend.
How Can We Help You?
Of course, Valentine’s Day is only the tip of the promotional iceberg. Watch for future blogs on Mother’s Day, Back-to-School, Black Friday and more. Meanwhile, if you have any questions—or just want to get started—the promotional experts at Blackhawk Network are standing by to answer any questions, make suggestions or help run your programs—whatever you need.
1. Statista Research Department, February 2021
2. RetailMeNot Incrementality Study, March 2018
3. CashStar Historical Data