Did you know that GCN connects with our merchant subscribers every month to discuss current challenges, best practices, and any timely topics?
Thanks to everyone who joined us on the most recent call. And a special thanks to our merchant leadership team for their guidance and contributions: Adam Golomb with Giant Eagle, Benita Johnson with Petsmart and Len Sadek with Landry’s.
The discussion on the call was full of great insights, including these 10 key take away concepts:
1. Metrics of success for your brand’s gift card program are always changing. For newer programs it may simply be sales, for mature programs metrics may include consumer behavioral information.
2. When it comes to data and reporting, the consensus is: there’s always more information to be gained, everyone wants, and no one has time to do it.
3. For third party sales, there’s a specific desire for behavioral data around both card purchase and redemption, and some distribution partners are willing to provide to directly to brands. For example knowing if someone is purchasing wrapping paper and other gifting supplies, that says
4. Categorical data may be easy for the retailers selling the card to acquire; however many pieces are proprietary data, and finding a contact to get the data can be difficult.
5. Another key data point is knowing how well a brand is performing in comparison to others in a third party mall in order to see if the growth or decline in a specific brand is mirrored in the rest of the display.
6. Staying connected with other departments is essential to growing your gift card program. Other departments may be able to support your initiatives, and gift card may help support other larger initiatives as well. For example, being used as a case example for a new program may increase relationships with the IT department.
7.There are a growing number of unique ways to promote your brand’s card and offer additional value to the consumer without discounting your brand. Such as brand collaborations and promotional opportunities.
8. At home activation is one of the newest trends to get your brand’s card in the hands of customers, and there are some amazing results.
9. The most interesting element of at home activation is when you ship a card to a consumer’s house, your brand has the unique opportunity to be placed in a “future gift drawer” for easy activation on demand.
10. The next merchant forum call is Wednesday, June 20 at 11am pdt/2pm edt and we’re accepting topic submissions. Simply reply to this email with a topic suggestion for next month’s call.
Thanks again to all the brand representatives who were able to join us including: Barnes & Noble, Belk, Cirque Du Soleil, Cracker Barrel, Crate & Barrel, Giant Eagle, Landry’s, Petsmart, Sears, & Ulta
To RSVP for the merchant forum, fill out the form here.
Make sure you’re included in the digital GCN Resource Guide, a free an open resource for merchants, vendors and distributors.