by Chandra Spary-Kontinos | Nov 22, 2024 | Bank gift cards, Data Security Credit Card, Featured, Gift Cards, Level III B2B, Mobile Processing, News Alerts, Pin and Chip, Safety Tips
12/9/24 UPDATE:
A U.S. District Court Judge ruled the enforcement of the BOI filing is unconstitutional. However, until FinCEN takes the filing off their website, you should still consider filing, just in case.
Penalties will begin after January 1st 2025
Have you heard of FinCEN and the newly required BOI reporting? FinCEN, which stands for Financial Crimes Enforcement Network, is part of the US Department of Treasury. This department is in charge of preventing financial crimes and promoting national security. The newly required BOI (Beneficial Ownership Information) report was created to help FINCEN on its mission by ensuring more transparency of ownership for companies operating in the US. Reports are due January 1st, 2025, for companies that began before 2024.
The report is easy to file online, or you can fill out the PDF and submit it.
You will need:
- Company name
- Tax ID
- Location
- Owner’s name
- Owner’s date of birth
- Owner’s address
- A government-issued ID or a FinCEN ID
You must file a BOI report for each owner who owns 25% or more of the company.
File here https://boiefiling.fincen.gov/fileboir
Instructions on how to file https://boiefiling.fincen.gov/help
All the information you need can be found here https://www.fincen.gov/boi
by Mike Peterson | Nov 4, 2024 | Gift Cards, Merchant Services, News
Small businesses everywhere are gearing up as the holiday season approaches for the busiest shopping months of the year. With shoppers looking for quick and versatile gift ideas, gift cards for small businesses have emerged as one of the most popular holiday items. Not only do they provide convenience to the customers, but they also provide massive benefits to small businesses. Gift cards are a win-win for both buyers and sellers, and from free marketing opportunities to additional revenue streams, there’s plenty to like about them.
In this post, we’ll talk about how gift cards help small businesses during the holidays and explore some creative ways to promote them.
Why Small Businesses Should Stock Up on Gift Cards for the Holidays
The most simple and powerful way to attract new customers and boost sales is with gift cards. They’re especially great for gifts during the holidays, as they’re ideal presents for those friends and family that are hard to shop for. Stocking up on gift cards for the holidays is more than just selling a product, it’s giving your customers the gift of flexibility. It’s especially handy when people are trying to manage a bunch of lists, gifts and schedules.
The main thing for small businesses is to have a lot of gift cards and put them out everywhere. Make sure you have your gift cards visible at checkout, on your website, and in any seasonal promotional materials. You’d be surprised at how gift cards help small businesses during the holidays by providing an easy, attractive option for last-minute shoppers.
The Benefits of Gift Cards for Small Businesses: Free Marketing in Every Gift
One of the best parts about gift cards for small businesses is that they’re essentially free advertising. When a customer buys a gift card, they could be bringing your business to someone new. This new customer would not have come into your store or visited your website if it weren’t for that gift card.
Gift cards are especially powerful because they have a personal endorsement from the giver. Gift cards for small businesses are given to people by their friends and family who really like the business they are giving the gift card to, so the gift feels more trusted and meaningful. That kind of word-of-mouth recommendation is priceless for small business. The more you introduce your brand to new customers, the better the chance you have of turning them into loyal patrons.
It’s a great idea to take this effect a step further by creating branded, visually pleasing gift card designs. These cards are mini billboards for your brand and guarantee that your business makes a good impression even before the gift card is redeemed.
Creative Ways to Sell Gift Cards for Small Businesses
One easy way to boost your gift card sales is to incorporate them into seasonal raffles, gift baskets, or holiday bundles. Here are a few creative ways to sell gift cards for small businesses this holiday season:
- Holiday Raffles: In store or online, host a holiday raffle in which customers can win a gift card. This can also get people excited about your gift cards and will increase your foot traffic or website visits. Likewise, many customers who have not won will end up buying a card.
- Gift Baskets or Bundles: Make gift baskets with small gift cards which include your store’s popular products. If you’re a salon, this works great for a “spa day” package, or if you sell gourmet treats, this works great for a “movie night” bundle. This card encourages people to return and explore what you offer.
- Buy One, Get One (BOGO): During the holiday season and in the days following Christmas, think of trying a “buy one, get one half off” promotion on the gift cards. For instance, customers purchase a $50 gift card and receive another $25 of the same to themselves or to gift to someone else.
This holiday season, add a personal touch to your gift baskets with gift cards for small businesses. They’re a meaningful way to support local shops and offer unique options for your loved ones.
Unredeemed Gift Cards: The Secret Revenue Boost for Small Businesses
Did you know that a lot of gift cards never get redeemed? Research found that a good chunk of gift cards for small businesses never get fully redeemed, and often never are, as recipients forget or gift cards go to waste. For small business owners, this means an immediate kick in revenue without having to order more inventory or add more service.
Extra revenue without additional expenses is provided by unused or partially redeemed gift cards, sometimes called ‘breakage’. During slower times after the holidays, when every little bit of money counts, this financial benefit is especially useful for small businesses.
This added revenue cushion is good, but keep in mind that the goal is still to provide a great experience to every customer who visits, whether or not they’re redeeming a gift card. Each visit is a chance to make a one-time gift card holder a regular customer.
Using Gift Cards as a Year-Round Marketing Strategy
Gift cards aren’t just for holiday sales, they’re a year-round marketing tool. Some people purchase gift cards as gifts during the holiday season, and people may still purchase gift cards for birthdays, anniversaries, graduations, and other celebrations even after the holiday season. If you make gift cards a regular part of your promotions, you’ll continue to get new customers all year long.
To keep gift cards top of mind, consider these strategies:
- Email Reminders: Seasonal emails like promoting gift cards and how they can be the perfect gift for any occasion.
- Social Media Promotion: Post photos on social media of your branded gift cards. Help customers show friends and family how much they would appreciate a card and how easy it is to pick one up.
- Incentives for Use: Challenge current customers to redeem their gift cards using seasonal or limited time discounts. For instance, you can give a small discount on the first-time purchase with a gift card and thus convert new customers into repeat buyers.
Ready to Start Selling Gift Cards for Your Small Business?
We make it easy for small businesses to offer gift cards at Card Systems, Inc. We’re here to help whether you are just getting started or stocking up for the busy holiday season. Our gift card solutions are easy to use, affordable and streamlined so you can provide your customers with what they need most—your service.
We can help you make gift cards a profitable part of your business this holiday season. Don’t wait, reach out today to learn more about how easy it is to get started!
References:
by Kim Dailey | Feb 12, 2024 | Bank gift cards, Gift Cards
Celebrate all Month
Make this Month Valentine’s month! Offer diners specials all month long! This will gain more business and allow clients to celebrate without the crowds of previous years. Dress up your reception area with impulse sales items. Add a gift card to a basket of wine, food, or whatever you sell, and create a grab-and-go product for frantic last-minute Valentine’s Day shoppers. Restaurant gift cards were the most popular gift card category in 2022. According to the National Retail Federation (NRF), restaurant gift cards were the most popular gift cards for Christmas 2022, with 27% of U.S. consumers planning to buy at least one. Source: moneyzine.com/personal-finance-resources/gift-card-statistics/
Spread the love to your customers this Valentine’s Day by offering out-of-the-box ideas. Offer a curbside candlelight Valentine’s dinner prepared or unprepared, and maybe include a small gift card they can use in the future as a surprise when they unbox their order.
Create a beautiful Valentine’s basket with a gift card and bottle of wine or glasses for those who choose to celebrate later. Maybe a pizza for two and a growler. There are so many fun ideas you can incorporate to make your restaurant even more memorable during these times.
Get creative; if you need last-minute digital cards or gift card presenters, we have you covered!
Every year, these numbers increase, and every day, someone is celebrating an event!
Source: NATIONAL USE YOUR GIFT CARD DAY – January 20, 2024 – National Today
- Gift cards that Americans give: 93% of have given gift cards
- The most popular gift card in 2019, Amazon, was the #1 gift card.
- Gift cards as birthday gifts: 68% of people give gift cards as a birthday present.
- Starbucks transactions: Almost half were made with gift cards
- Men vs. Women: Men spend more on gift cards than women. Perfect for Valentine’s Day
by Chandra | Jun 8, 2021 | Gift Cards, POS Systems
The number one impulse gift is a gift card. Are you offering gift cards to your customers?
This is an excellent way to promote your business and create additional revenue at the same time. Successful business owners know this and prepare well in advance of every holiday. But wait….don’t forget birthdays, actually, they are the number one Holiday so keep refreshing your displays
- Display Gift Cards everywhere. Dress up your store and make sure people see them. This is the easiest and most effective way to market your gift cards
- Advertise on your table Tents
- Send an email to your customers via Mailchimp or Constant Contact
- Have a drawing weekly to collect names and give away
- Add gift cards or e-gift cards to your website and all your social media sites
Here are ways to promote your Gift Cards for Father’s Day and all year long. Check out our Gift Card tips.
We have the supplies you need for your gift cards: Gift Card holders, presenters, table tents (we will design) gift card signage to help you promote your gift cards, and more.
by Chandra | Dec 17, 2020 | Bank gift cards, Gift Cards, POS Systems
How can you sell more this season?
Gift cards continue to be the #1 gift given and also the #1 gift most people want to receive.
E-gift cards and Mobile Gift cards are becoming more popular than ever and you can begin selling these cards today! Especially with so many people using their mobile devices for everything these days. Not only e-gift cards are easy to buy and send, but they are also instantly delivered or they can be ordered ahead of time.
3 Quick Tips to sell more gift cards this year
Add Value
Offer an additional bonus gift card with a large purchase or in addition to a $50-$100 gift card purchase. This is another great way to acquire new customers. A mere $10 or $20 free gift card is an inexpensive way to increase your customer base since most people give the free card away to friends or family. There is a reason the big box stores have huge banners up this time of year!
Creating Impulse Gifts
Give your customers a “grab and go” option at check-out with your cards in a basket or simple gift bag. A bottle of wine and pasta in a basket or maybe some chocolates with a plate on display will appeal to your customers. Get creative, and have fun with it! You have a captive audience and visualization always sells more gift cards. Customers love the time savings of not having to wrap it themselves or think of items to add. Your gift cards fly off the shelves and your sales will skyrocket! Not to mention the new business you will gain from the recipients of these gift cards.
Advertise e-Gift Cards Everywhere
Use banners outside or notices on your doors, and a fun display at your check out counter. Also, don’t forget social media…with a simple QR code directing them to your website to order e-gift cards, mobile or plastic gift cards online!
We are all pressed for time these days and just by making it easy for your customers to order with gift ideas or different methods of delivery, you will create the “WOW” factor and be remembered! Last year
Statista reported retail sales were projected to amount to
$6.03 trillion in 2022!
by Chandra | Dec 9, 2020 | Gift Cards, Marketing, Restaurant Industry News
Boost your Restaurant Sales by Up-sell to Existing Customers
Your servers should be suggesting appetizers, desserts, and gift cards. Are they? A lot of servers simply ask ”Can I start you out with an appetizer?” This puts the server in a bad position if the customer says no as they can’t really ask again without running the risk of sounding pushy or becoming annoying. When it comes to suggestive selling you want to follow these 3 steps.
3 Simple Steps to Market your Appetizers
- Inform – Tell the customer that you have appetizers when handing out the menu by saying something like “Be sure to check out our appetizer section, they are amazing!”
- Testify – Before taking the order preferably before the customer makes up their mind, you want to testify by saying something like “you should try the Crab stuffed mushrooms with the lobster sauce they are my favorite!” Be descriptive when testifying but keep it short
- The Close – Now is the time to ask for the sale “so can I start you out with an appetizer?”
The idea here is to get the customer to think about the appetizer without forcing them to make a quick decision.
Now that you sold an appetizer to your table, it’s time to think about dessert. Before the meal is brought to the table you want to put the idea of dessert in their minds while they are still hungry. We are going to use the three steps again but with a little twist.
3 Simple Steps to Market your Desserts
- Inform – Go back to the table to let them know their food will be ready soon or to see how the Appetizer is say something like “I was in the kitchen and they just pulled the apple pie out of the oven it smells so good”
- Testify/Close – When you return to check the table say something like “we have some of the best pastry chefs here, our desserts are delicious. “Can I bring you a piece of pie?” Now if the customer says yes, great! If they say, no it’s ok, because we will take one last shot before they pay the bill.
- 2nd offer – When the customer asks for the check casually ask “So are you sure you don’t want that piece of that pie? I can put it in a small box so you can take it with you for later.”
Up-selling in a restaurant is like any other type of sales. If you train your servers properly to use suggestive selling they will market more appetizers, desserts, and gift cards. This leads to larger checks, higher tips for servers, and retention of those servers along with more revenue for your restaurant. You don’t have to follow this pitch word for word, make it your own and work it into the conversation naturally. Also, people are more inclined to buy from people they like so remind your servers to be polite, friendly, and smile, smile, smile!
More solutions for restaurants.
