When you use online technology to deliver debit card reward programs, the benefits can make your rewards more effective. Here are seven reasons why.
The Role of Gift Cards in Corporate Recognition and Incentive Programs
- Gift cards are familiar to American consumers as an easy, convenient way to give the gift of choice.
- Businesses use gift cards to recruit, recognize, and motivate employees; to reward workplace safety; to forge relationships with dealers and distributors; to build trade show traffic; and encourage consumers to buy their products
How do you use gift cards in your incentive programs?
- Performance incentives
- Sales incentives
- Non-sales recognition awards
- Spot awards
- Dealer incentives
- Business gifts
- Service awards
- Consumer promotions
- Safety awards
- Wellness programs
Studies prove that gift cards achieve concrete business results such as:
- Increasing sales
- Improving employee performance
- Increasing loyalty
- Building teamwork
- Creating new markets
Gift cards also offer the following advantages over cash incentives.
- They are more memorable
- They aren’t confused with compensation
- They can be branded
- They can be personalized
- They can be customized
- They include administrative benefits such as usage tracking and a variety of redemption options
The gift card industry continues to play a key role in both business-to-consumer and business-to-business markets
In particular, use of the cards to help build incremental sales is expected to expand.
Cash isn't noteworthy.
Monetary incentives such as discounts and rebates are common and expected in most distribution channels, but gift cards can make a motivation program more targeted and memorable without raising sensitive pricing issues.
Gift cards are a popular reward for repeat purchases.
Retailers offer gift cards to consumers who spend minimum amounts.