Many local entrepreneurs have been using Yelp as one of their essential cornerstone for their online presence. Since 2004, Yelp continues to be a powerhouse not only as a go-to resource for millions of online visitors in search for information about local business, but also as a social networking and review website. Through Yelp, local business can list information about their location, hours, and services online. The review section of Yelp allows customers to provide interesting and useful reviews about a business for others to read.
Indeed, Yelp has already become one of the leading website for user-generated reviews and online presence. Yelp has been helping large-scale and small-scale entrepreneurs to build their brand online and attract more customers with their ever-growing audience.
Local business have been benefiting from the advantages Yelp has been providing them. Because of this, Yelp kept on rolling helpful features on their website so that business can maximize their presence online. A year ago, Yelp has offered their Yelp Deals. And just recently, Yelp has added yet another amazing option on their list of useful features- the Yelp Gift Certificates.
Yelp Rolled out Gift Certificate Option
From their business page at Yelp, small-scale businesses have now the option to sell gift certificates. Earlier this year, Yelp has tested out the gift certificate feature and just recently announced that it is now available for all the businesses using their website. Indeed, this has upgraded the chances for businesses to grow and widen their target audience. Although gift certificate offerings aren’t new at all on a review site, Yelp’s gift certificates plus its daily deal promotions (Yelp Deals) can definitely provide an entrepreneur the boost he or she needs for his or her business.
Unlike the daily deals promotion, Yelp gift certificates don’t come with any discount. Yelp has provided this option so that businesses using their website can reach out more to their customers. While posting gift certificates in the profile pages, local business on Yelp should run Yelp Deals simultaneously with the gift certificate options. Yelp has made the gift certificate option a reality since they found out that it is important to separate it from daily deals promotion so that customers have the liberty to give undiscounted products as gifts. Gift certificates on Yelp are not discounted and they are full-value cash equivalents.
Local businesses on Yelp can choose to offer gift certificates in different denominations so that their customers can choose to buy as much or as little as they want. Yelp will get a 10% cut on the gift certificates sold by local businesses.
Benefits of Gift Certificates on Yelp
Gift certificate offers are definitely profitable sales channels and superb marketing tools. Large-scale companies are making billions of dollars every year by selling gift certificates. As a favourable trend and as a sensible marketing strategy, offering gift certificates can give a small business more than one benefit.
- Boost in your sales. Yes, gift certificates definitely work their magic for any business (done in the right way). Gift certificates will provide you the chance to reach more customers leading to more sales.
- Improve in your cash flow. When a person buys a gift certificate, he or she is pre-paying the services that another person will receive later. Basically, gift certificate sales represent cash deposits or full payments for services planned for in the future. The cash is your 100% unless the buyer redeems the certificate.
- Attract new customers. By offering and selling gift certificates, you are reaching wider audience and ultimately catch the attention of potential clients. You can even reach other people who are not interested in your business, but have relatives or friends who will be. With that, you are making more sales simply by addressing the market you have not reached yet.
- Lead to brand growth. Of course, gift certificates can help increase your brand awareness. When a customer buys a gift certificate from you, you are not only gaining sales, but you are benefiting from the amazing power of “word-of-mouth.” People who don’t know you’re business will be able to know you from their friends who have bought gift certificates from you. Getting referred to new potential customers by your existing customers who got gift certificates will increase your brand growth.
- Encourage, maintain, and build customer loyalty. In order to redeem the certificates, your customer will revisit your store and possibly purchase more.
With Yelp’s gift certificate option, you can easily turn your customers as your potential marketers and promoters. You can find a “goldmine” in Yelp’s gift certificate option with the right marketing strategy.
Are you likely to use the gift certificate option on Yelp?
