By Max Harris-Brassil — 18 Mar 2020
With more news coming out every day about travel restrictions and COVID19 in general, our industry has experienced its biggest shock in decades. However, the tourism and experiences industry is uniquely resilient, and once the worst of this epidemic passes we will bounce back and become stronger than ever, just as we did in 2009.
It’s important during these tough times to remember that people will always want to travel, and while it’s sound advice at the moment to cut expenses and operate as lean as possible, you want to be sure you don’t pull back too far, so that when it’s time to rebuild you’re in the best position to expand again. This means you need to maintain cash flow.
One positive way to keep funds coming in is to offer gift cards, particularly at a discount if you can. This way, customers can still purchase your experience, and you still are getting the steady cash you need to keep afloat, however they can redeem it at a later date once things have settled down and the world is traveling again.
Everyone knows someone who is obsessed with travel and experiences, and a gift card that they can redeem in their own time will be as great a gift now as ever, especially given some people can’t visit their friends or family, and in some cases can’t even go to a store.
Alternatively, a customer might see a discounted gift card as a reason to purchase now for your tour business (which they’ve been dying to try for ages), to save a bit on the booking price and then they can go when they are ready. You get the cash on the spot, as well as a commitment that you will have customers once the industry ramps up again. Everybody wins!
If you set up a gift card as a separate product in Rezdy , you can set the price, as well as the specific terms and conditions. You can create it in a way that suits your needs, but also gives customers a compelling reason to purchase with you now. For customers or curious subscribers, you can view our Help and Training article on setting up gift cards here for a more in-depth guide.