Guiding Your Business’s Success with Corporate Gift Cards
Dull email inquiries and sales calls are things of the past. In this era of digitization, companies must add a touch of personalization to all communications they make with their existing and prospective clients. Even when dealing with the employees, the real asset of any organization, human touch and warmth are of prime significance.
Corporate gift cards, with their inherent potential to bring a smile to the recipient’s faces, are the magic wand companies need to humanize the relations that immensely contribute to business success.
As per Coresight Research 2022, the U.S. corporate gifting market is all set to reach $306 billion by 2024. Besides this, 53% of employees have reported staying at their companies due to gifts and rewards, while 63% of companies consider corporate gifting to improve customer relations.
These statistics prove the importance of corporate gifts for businesses looking to boost revenues, increase traffic, and build long-lasting relations with customers. Let’s further explore how corporate gift cards guide business success.
1. Engage the Customers
Corporate gift cards enable customer engagement and open the doors to added marketing opportunities and in-depth customer relations. They serve as brand ambassadors, ensuring the recipients have an uplifted experience. For example, customers can use a rechargeable gift card to purchase anywhere at accepted stores, online or in-person, and later load money onto it.
Based on the reloadable gift card, customers can load money using direct deposit, in-person, where they get the gift card, or online to engage the customers with the smallest brands to drive sales for businesses.
2. Create Long-Standing Relations with Clients
Customers enjoy getting gift cards from organizations because it helps them feel acknowledged and appreciated for their contributions. Using corporate gift cards and reward programs helps build strong customer relations. As a business, you can give corporate gift cards to customers who spend a specific amount on your products or services or give them gift cards for settling disputes.
When you offer at-par products and services and attractive perks like gift cards, your existing and prospective customers will never consider moving to another company.
3. Enable Businesses to Catch Up on Holiday Sales
From home improvement, laundry, and personal care services to medicine subscriptions and club memberships, corporate gift cards can help businesses catch up big on holiday sales. Offering gift cards to be redeemed during the holiday sales period can increase the sale of products and services, thus helping businesses make huge profits.
4. Foster Good Company Culture
Delighting your employees with desirable, suitable, and relevant gift cards fosters a perfect company culture, as gifting has the same impact on employees as on customers. Businesses can conduct Get-to-Know-You sessions to understand the likes and dislikes of their employees and create gift cards accordingly so they are completely satisfied.
Corporate gift-giving creates a mutual understanding between the organization and employees, making them feel valued for their contribution. Such employees move on to contribute with even more enthusiasm and are less likely to leave the company. Overall, highly motivated and engaged employees outperform their competition by 147%.
5. Increased Cash Flow for Businesses
Businesses can make huge profits by producing corporate gift cards since they are highly cost-effective. As the recipients consider the gift card amount as free money, most spend 38% more than the actual gift card value, bringing in extra revenue for businesses. Moreover, unused gift cards profit businesses regardless of why they go unused.
Also, many businesses may not be aware that gift cards help generate revenues even before making a product or service up for sale.
6. Help Businesses Acquire Useful Information
Gift cards, when linked to different online registrations, allow customers to communicate their preferences, thus helping businesses further address the same with the right products and services. Also, collecting vital data through corporate gift cards can help businesses understand the market, enabling them to create products per market demand and requirements.
Further, corporate gift cards are extremely handy when it comes to integrating with a business’s point-of-sale system. Companies can easily track regular and gift card transactions in one place, which further helps them understand customer behavior.
This crucial knowledge also helps businesses design products and services as per customer requirements, which automatically brings in profit and boosts business success.
7. Stay Competitive
Corporate gift cards can be branded and customized with the company’s name or, in the case of employees, with their names, thus building brand loyalty and pride. Gifting branded gift cards to employees and B2B businesses helps organizations stand above competitors.
If you choose the redeemable products or services thoughtfully, your customers will enjoy using them and thus appreciate your company, ultimately giving you repeat business.
8. Reduce Fraudulent Activities
Corporate gift cards reduce personal information theft because they do not carry any. Also, they cannot be copied easily, like paper gift certificates.
9. Gain Followers and Positive Reviews
Incentivizing buyers or followers for good comments and positive posts on social media and review sites is just the extra nudge your followers need to further appreciate your brand on different platforms.
Positive testimonials from satisfied clients can help you build a strong social presence. The extra appreciation you offer in the form of gift cards motivates the users to leave a positive review that further claims the authenticity of your organization.
Conclusion
By now, you must have a clear idea about the significance of corporate gift cards when aiming for business success. After all, boosted sales and revenues and long-standing customer relations are crucial for every business willing to succeed. So, ensure doling out corporate gift cards on varied occasions to show your connections that you care.
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