A successful gift card program is well-known for offering several benefits to companies. These include attracting and retaining targeted customers, enticing both current and potential business distributors, satisfying and retaining employees, and also motivating the workforce to achieve desired business goals. The two types of rewards gift cards that a company can use in its employee recognition program are open-loop and closed-loop gift cards. This article outlines the top 8 categories of gift card incentives.
- Alternatives to cash:
Prepaid open-loop cards act as the best alternative to cash as it offers recipients the most choice. They can spend such rewards gift cards nearly anywhere and also distribute them without collecting details of the recipient’s unique interests.
- Multi-store cards:
Multi-store or multi-brand cards allow the recipient to shop from different stores and brands according to their level of choice and convenience.
- Home improvement:
Home improvement store cards provide a chance for the recipient to buy an extensive range of useful home products and utilities suitable for all kinds of houses.
- Electronics:
Reward ideas that are centered on electronics are perfect options for end-of-the-year sales incentives. Since many people find it difficult to buy high-end electronic items, rewarding them with gift cards with reasonable discounts can make it an affordable option for buying desired electronics.
- Transportation:
Everyone needs to commute to several places almost every day which can be a costly expenditure. For drivers, gas cards seem to be an appealing corporate reward. While electric vehicle owners might prefer a card to cover the cost of recharging, those accessing public transportation will want a card for accessing local transport cost-effectively.
- Streaming services:
Streaming online has become the most common way for people to watch shows and movies these days. Dozens of streaming sites are making gift cards more useful and appealing. The loyalty of recipients getting gift cards for streaming services is more likely to increase towards the respective company.
- Groceries and consumer staples:
No matter if the economy is good or bad, certain things will be required by everyone, and groceries and consumer staples top the list. Helping recipient foot the bill for groceries and other staples could turn out to be a huge motivator with the ubiquitous appeal.
- Cards for splurging:
The significance of self-care and retail therapies is increasing with the increase in the stress level of regular jobbers. Although almost everyone wants to opt for these self-care therapies as a stress buster, it is because of their high cost that many people avoid going for spas and massages. Offering gift cards that help fund such activities could associate a brand with a happier and healthy life.
Conclusion
Gift cards have emerged as one of the best marketing incentives. The key to building a successful gift-card-based incentive program is to offer what people want. It is with these categories of rewards gift cards that a company can easily find the best mix of practicality, ease of use, choice, and also an excuse to boost sales and revenue.
