Gift Card Marketing: A Powerful Tool for B2B Lead Generation

Aug 19, 2024

∙ Paid

B2B marketers often dismiss gift card marketing.

But this can be a powerful tool for driving revenue and booking quality demos if you know how to use it right.

💡Recent studies have proved it's working. One survey found that 72% of businesses using gift cards for marketing reported increased customer loyalty.

Here's how you can best use gift cards in your marketing campaigns:

The Gift Card Playbook

Focus on a Specific Audience
Target a singular title in a specific vertical.
For example, Directors of Demand Generation at SaaS companies with over 200 employees.
This aligns with my guide on B2B ideal customer profile strategies.
Manually Verify Your TAM
Only send gift cards to manually verified accounts that sales have approved.
This ensures you're not wasting your budget on unqualified leads.
Target Champions, Not Decision Makers
Focus on selling to champions within organizations who can influence decision-makers.
Rather than targeting C-level executives directly.
Complement with Compelling Content
Run a 30-second live-action commercial alongside your gift card campaigns.
This will increase engagement and brand awareness.

💡According to a 2023 study by the Incentive Gift Card Council, 84% of businesses reported that gift cards improved their customer relationships.

For more content ideas, check out my B2B marketing strategies that work.

Best Practices for Implementation

Verify Product-Market Fit
Ensure your offering aligns with the needs of your target accounts.
Refine Your Sales Process
A strong follow-up strategy is crucial for converting gift card recipients into customers.
Test Different Incentives
Amazon gift cards work well for some.
But also experiment with different options to find what resonates with your audience.
Focus on LTV : CAC ratio
Consider pricing, gross margin, terms, and retention to improve it.

For more on maximizing ROI, see my guide on maximizing marketing ROI on a tight budget.

As the marketing expert Neil Patel states:

"Gift cards can be a powerful lead generation tool when used strategically. They provide an immediate value proposition that can entice prospects to engage with your brand."

Overcoming Common Objections

Some marketers view gift cards as "cheap" or "not real marketing."

But it's important to focus on results rather than perceptions.

💡A 2024 study by the Incentive Research Foundation found that 65% of businesses using gift cards for B2B marketing reported a positive ROI.

To address these concerns:

Emphasize the strategic targeting approach
Highlight the importance of follow-up and nurturing
Share success stories and ROI data

For more on overcoming B2B marketing challenges, check out my article on B2B marketing challenges and how to overcome them.

Psychological Factors at Play

Understanding the psychology behind gift card marketing can help you use it in a more effective way:

Reciprocity
Gift cards can trigger a subconscious need for recipients to reciprocate.
This will increase engagement in return.
Endowment Effect
Once people receive a gift card, they may start valuing your product more.
It's due to a sense of perceived ownership.

Measuring Success and Optimizing Campaigns

To ensure your gift card marketing efforts are effective:

Track key metrics like response rates, meeting attendance, and conversion rates
Analyze the quality of leads generated through gift card campaigns
Compare the ROI of gift card campaigns to other marketing initiatives
Refine your targeting over time and follow-up processes based on data

💡A recent study by the Gift Card & Voucher Association found that B2B gift card programs saw an average ROI of 75% in 2023.

For more on measuring marketing success, see my guide on essential marketing tools and trends.

Integrating Gift Cards into Your Overall Marketing Strategy

Gift cards can be powerful.

But they should be part of a broader marketing approach:

Use gift cards as a door opener.
But focus on providing value in next interactions
Develop a content strategy that supports and complements your gift card campaigns
Align your sales and marketing teams to ensure smooth handoffs and consistent messaging

For more about new marketing techniques, check out my guide to marketing beyond advertising.

Ethical Considerations and Best Practices

To maintain integrity in your gift card marketing:

Be transparent about the terms and conditions of the gift card offer
Ensure compliance with relevant regulations and company policies
Respect prospects' time and preferences.
This will allow them for easy opt-outs if desired

And That’s It

Gift cards can be a powerful B2B marketing tool when used strategically.

They're not the main offer, but a way to get prospects' attention.

To make it work:

Target specific audiences
Verify your market
Focus on champions, not just decision-makers
Pair gift cards with great content

Like any marketing tactic, test and improve your approach.

Use gift cards to open doors, but always focus on delivering real value to your customers.

💡Want to wow your stakeholders? Check out my exclusive B2B SaaS Marketing Playbook packed with insider secrets and transform your strategy today!

I hope that helps,

-Hakan.

Founder, MarketersRemote.com

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Gift Card Marketing Implementation Guide & Success Stories

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2 in-depth case studies with real results
A step-by-step implementation guide
Expert strategies for measuring ROI

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