Effective and Efficient.
When it comes to marketing initiatives, proof and popularity are intertwined. Really, in any facet of business, the best-practices spread quickly. Efficiency coupled with effectiveness is a powerful tandem. It’s why we’ve seen the use of Gift Cards – particularly eGift Cards – take off in recent years. Businesses are recognizing their ability to impact and engage.
Gift Cards’ growth in popularity.
During gift-giving occasions, Gift Cards have become a go-to choice among consumers. Studies have shown the satisfaction of receiving a Gift Card exceeds that of many traditional gifts, including money – which frequently ends up going toward grudge purchases. In 2018, the National Retail Federation found that Gift Cards were the 2nd most gifted item during the Holiday Season. This has even spawned the development of “Use Your Gift Card Day” on the 3rd Saturday of January – an effort that could enhance engagement and customer activation even further.
More memorable. More engaging. More powerful.
Gift Cards and eGift Cards have a distinct appeal to recipients. As we understand these dynamics, the value they can have to any promotion or loyalty program becomes clearer. According to a study done by Incentive Gift Card Council, Gift Cards have a ‘trophy value’ when they’re received as a reward for an accomplishment. Why is that important? It makes the purchases associated with that reward that much more memorable. That can have a lasting benefit if used to reward a long-time customer, a shopper who’s provided customer feedback, or for sharing social media posts.
A rewarding opportunity to treat yourself.
The key factor is the feeling of a guilt-free treat. Numerous similar studies have found that cash rewards are less motivating. When used to reward employees, many ended up seeing as compensation. And, rather than something enjoyable, the reward money was used for necessities.
When you reward a new or current customer with a Gift Card, the positive brand experience you’re providing can’t be overlooked. From the time they receive the Gift Card, through to the purchase, and the enjoyment of what they buy, your brand is the consistent element of that journey.
The instant gratification of eGift Cards.
The use of eGift Cards has added convenience and instant gratification to the mix. The ease of use, with purchasing power at everyone’s fingertips, has made them a very popular offering among gratiflow clients – across all demographics. Now, that entire brand experience – from engagement, to reward, to fulfillment – can be completed from the convenient comforts of home.