Draw Customers with Discounted Gift Cards
Restaurants and other businesses looking to attract consumers shell shocked by the economy might consider discounting their gift cards rather than their products/services.
Scarborough Research says nearly half (47 percent) of Tucsonans bought a gift card during the past year.
Several big chains already capitalize on this marketing tool, including Target, iTunes, and Barnes ‘N’ Noble. Fox Restaurant Concepts offers a bonus to customers who buy $100 or more in value in gift cards – a $15 bonus gift card.
FoxRC started its gift card program a few years ago, according to Debbie Porter, Director of Marketing.
“It’s extremely successful. They drive both existing and new business for our restaurants,” she said. “It allows us to cross promote our brands across markets.”
People who didn’t know Fox owned a boutique restaurant in their neighborhood often find out about it through gift cards, which are good at all Fox Restaurant Concepts.
“Our redemption rate is really high,” Porter said. “About 93 percent.”
“Why our cards resonate so well with people is it provides a variety of options and price points,” she said. “There’s a lot of flexibility with them.”
Restaurant.com offers to find consumers discounted gift cards for restaurants in their zip code. With consumers counting every penny, knowing they’re getting more food for their money may entice back out on a Saturday night.
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