In today's competitive market, rewards and recognition providers need more than just traditional offerings to stand out from the crowd. Enter digital gift cards - a game-changing feature that should not be overlooked in any rewards package!
In this blog post, we’re going to take a look at why digital gift cards have strategic importance in any rewards and recognition-focused business - let’s go.
One of the most significant advantages of digital gift cards is the opportunity to diversify your rewards package to make it more appealing to a wider audience. Whether you're catering to Gen Z employees interested in tech gadgets or foodies who appreciate dining experiences, digital gift cards cover a broad spectrum of likes and interests.
The end result? You're better positioned to appeal to various demographic and psychographic markets, making your rewards package more universally attractive to your customers.
Including digital gift cards in your rewards package isn't just good for the end-user; it's an intelligent business move for you, too. Many digital gift card providers offer competitive discounts, enabling you to purchase their gift cards at a reduced rate, and while a single gift card sold at a 2-6% discount may not seem like much of a saving, the numbers soon add up, making them a very viable profit stream when sold in bulk.
This price difference can also be leveraged to fund other aspects of your rewards programs, enhancing the overall profitability of your business while providing additional value to your customers and their end consumers. It's a win-win!
And the competitive discounts you receive from digital gift card providers don't have to stop with you either - you can pass them along!
By passing these discounts on to your customers or their employees, you not only increase the perceived value of your rewards package but also differentiate your offerings in a crowded market. It's another win-win situation where both you and your clients save money while offering a richer rewards experience to your end users.
Let's face it: brand matters, and including digital gift cards from big-name brands in your rewards package can do wonders for your brand image.
By integrating with a gift card platform like Tillo, you can form an affiliation with household names like Nike, Uber Eats, and Disney, lending an air of credibility and premium quality to your offerings and increasing their market appeal. Plus, big-name brands like these also send a message to your target market conveying that you're not just any rewards provider; you're one that's connected to the brands people love and trust.
Last but not least, with no physical production, shipping, or waste, digital gift cards are an eco-friendly option, meaning they resonate well with increasingly sustainability-conscious markets. Incorporating digital rewards into your rewards package is not just a nod to social responsibility; it's also an attractive feature for companies looking to align their recognition programs with their corporate sustainability goals.
You can even go a step further and incorporate charity gift cards into your offering, allowing your customers and their employees the opportunity to give back to the causes they care about.
By diversifying your offerings, creating additional revenue streams, passing on discounts, affiliating with big-name brands, and making a sustainable choice, you're not just offering a rewards program - you're offering a strategically designed package that adds value at multiple levels.
To find out more and see how Tillo can help you supercharge your rewards and recognition package with 2000+ brands that people love, get in touch with us today.