5 Effective Strategies: How to Increase Sales with Gift Vouchers in Malaysia
Gift giving is one of the most important cultural traits in Malaysia to express one’s gratitude, respect, and appreciation to friends, families, or business partners. Did you know that selecting the right gift can impact your business on customer loyalty, employee loyalty as well as sales?
Why is a gift voucher the best gift?
Gift vouchers are the perfect way for you to reward and give recognition to your employees, clients, and anyone else who supports your business. As you know, Malaysia is a multinational country that consists of various ethnicities and religions, hence people have different cultures. It is important to know your business partner’s culture in order to select an appropriate gift. For example, if you wish to send food gifts to Malay or Muslims, make sure it is ‘halal’. An other example would be to avoid wrapping your gift in white, black or blue, if the gifts is destined for a Chinese person. Therefore, a gift voucher is your saviour, as it is suitable for most occasions, as well as people.
1. Employee rewards
Workforce engagement and motivation are vital for companies that want to increase the employees’ production, work on employee retention, and ultimately improve sales performance. Hence, incorporating an employee reward program is beneficial not only to the employees, but to the company as well. That is, because employees are willing to do their best to keep the wheel moving when their contribution is being appreciated.
There is a variety of ways to motivate staff, other than just an increase of salary. One of the simplest ideas many companies use because it is convenient, is a voucher-based reward system. Businesses can reward their employees as a team, to promote more unity of work and reward their employees individually. That encourages them to work better and do more meaningful work.
Gift vouchers suitable for employee rewards:
- Shopping vouchers: Aeon voucher, Lazada voucher, Zalora voucher
- Premium vouchers: Playstation voucher, Spa voucher
- Utilities vouchers: Petrol vouchers, Grab voucher
The best timing to reward and recognise your employees:
- When an employee shows significant improvement
- When an employee achieves their personal target
- When a team of employees achieves organisational goals
- Recognition for good working attitude in a certain period of time
2. Occasion gifts for employees
There is a difference between employee rewards, and occasion gifts. Employee rewards is a program where employees can use their hard work in exchange for rewards. However, when you send an occasion gift like a birthday gift, wedding gift or holiday gift, it is something extra that expresses gratitude, and makes employees feel valued. A thoughtful and well executed gifting strategy, will provide the necessary employee morale boost, to help you with future sales.
However, are all gifts equal, if you have the same budget? As an employer or a team leader, you need to be thoughtful when choosing a gift for your team members. Here are some gift vouchers you can consider choosing for each occasion below:
- Birthday: Jewellery vouchers, cakes vouchers, dining vouchers
- Wedding: Spa vouchers, jewellery vouchers, electrical appliances vouchers
- Christmas: Electrical appliances vouchers, petrol vouchers, dining vouchers
- New Year’s: Dining vouchers, fashion vouchers, shopping vouchers
- Others: Food & beverage vouchers, shopping vouchers
3. Corporate gifts for clients and partners
Business relationships begin when you are someone that your prospects know, like, and trust. It takes time to nurture this trust; to turn them from a prospect, to your client. Sending gift vouchers to your clients and prospects, helps you make a good impression as well as create and maintain connections with them. It shows that you care and sets you apart from your competitors. Choose wisely the right gift vouchers at the right timing for the right recipients.
Here are some of the best times to present gift vouchers to your clients, and partners:
- Special season
- Mark a milestone
- Annual gift
4. Prizes or giveaways
You may have great products and services but it is worthless if your clients don’t even know that you exist. Giveaways or contests help you bring the attention of your clients to learn more about you. It is just another marketing tool to grow your business, and to raise awareness of your company. Be it a sweepstakes that can bring traffic to your website, or using giveaways to build your email list or strengthen your relationship with your customers , or using a contest to advertise your brand and bring engagement on social media.
Gift vouchers are ideal for your prizes or giveaways, because:
customers can directly see the value in them
it is easy to claim or exchange.
it can also generate useful customer data, so that you can know more about your customer preferences depending on the categories of the gift voucher they are excited for.
Usually the rule of thumb for choosing attractive vouchers, is to select something that users can use in their daily life.
- Groceries vouchers: Aeon voucher, Cold Storage voucher
- Utilities vouchers: Touch n Go voucher, Petrol voucher
- Food & beverage vouchers: Starbucks voucher, Haagen Daz voucher
5. Thank you gifts
Research shows that 60-80% of customers do not go back to the business who satisfied them initially, due to lack of connection. Sending thank you gifts to your client fills this gap because it impresses your client, and reminds them of the good experience they have with you.
So how do you select the gift that can catch your client’s heart? The answer is: always make it personal. You may collect information during your daily conversations with them, so that your gift is something they need. This will make them appreciate your efforts.
- Food vouchers if you know what kind of food they like
- Jewellery vouchers usually for clients who are preparing for a wedding (eg: Poh Kong voucher)
- Electrical appliances vouchers usually for clients who just moved to a new place or planning to get new appliances (like Sen Heng vouchers)
The idea behind gifting vouchers is to account for happier clients, prospects or employees. They can help motivate your employees, gain access to a wider customer base, and build relationships with your clients and prospects for better sales opportunities.
Finding gift vouchers for your business? The experts at DCR can help. Learn more about the gift vouchers and fulfilment service we offer on our website.