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Temporary Free Balance to Spend with Gift Cards

Temporary Free Balance to Spend with Gift Cards

Offer temporary free balance to spend to trigger Loss Aversion behavior in your customers.

Example

Offer a $30 gift card for a customer's birthday that expires in three days after their birthday, for orders above $100.

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Temporary Free Balance to Spend with Gift Cards

Temporary Free Balance to Spend with Gift Cards

Offer temporary free balance to spend to trigger Loss Aversion behavior in your customers.

Example

Offer a $30 gift card for a customer's birthday that expires in three days after their birthday, for orders above $100.

Main Benefits

Adding a temporary free balance drives the customer into Loss Aversion behavior. People endowed with unexpected gains usually try very hard not to lose them. In the case of a sales promotion, this means they are very likely to make a purchase due to saving the balance for themselves before it’s gone.


Best Practises

  • You can offer the free balance in multiple ways – gift card, loyalty points, custom currency, rechargeable gift or credit card issued by your store.
  • Think of your budget and set the minimum order value, unless you want your customers with $30 gift cards placing $30 orders (this may bring a lot of one-time customers who will never come back and simply burn your budget). 
  • Set up fraud-prevention rules like allowing the gift card to be cashed out only by the original gift card holder, that will prevent people from swapping or reselling gift cards.
  • Limit the use to once per customer or once per customer per year if you want to protect  your budget and reach more customers. 
  • You can gift the free balance for a special occasion (holidays, birthdays, anniversaries) or based on customer actions (their second, third order, re-activation campaign, abandoned basket). Think of your goals with this campaign and base your trigger on that. 

Learn from Leaders

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