Present vouchers are a very powerful marketing and client retention tool for retailers plus service providers of all sizes, and they can be applied to a wide variety of situations, helping to enhance 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. The 5% that are not redeemed often cover the expense of having the vouchers printed.
Personalised discount vouchers act as an excellent advertisement for your business and they can help to keep customers coming back to you. It is well documented that it is far cheaper to retain an existing consumer than it is to recruit a new a single. An added bonus is that customers using 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 cause them to become come back. Perhaps send a gift certificate to customers on their birthday, or just run a seasonal promotion where you deliver a voucher to all of your clients and set an expiry date on the voucher to encourage quick buys.
They can be used in conjunction with existing 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, will drive up sales values since 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 inside the business.
According to the Voucher Association, £3.
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1 billion worth of gift vouchers are sold annually in the UK, generating massive profits for retailers plus service providers. However , fraud is around the increase and millions are lost each year due to poorly produced vouchers, which can be easily replicated on house desktop publishing software. Despite this, protection is an area often overlooked by companies using gift vouchers, which is surprising when you consider that gift vouchers are as good as cash to suppliers. It is therefore important to be able to verify the fact that voucher you are redeeming is legitimate.
There are a number of covert and overt features used by security printers to let you authenticate vouchers instantly. Covert functions include watermarked paper, which provides an effective form of protection against counterfeiting, and is difficult, if not impossible, to recreate by copiers and scanners. Protection paper with this feature is distributed only to authorised manufacturers, making it hard for counterfeiters to obtain. One of the most efficient protective measures against fraud will 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 duplicated through photocopying or computer encoding.
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 alter colour or disappear when put through heat (usually just by rubbing together with your thumb). Microtext is extremely small text, 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 plus covert security features should ideally be used to produce secure vouchers which are protected against fraudulent conversion.