This is an interesting topic for our clients (retailers) to follow. When we sell our merchant client’s gift cards into the B2B sector, our client’s wish that they could “know” who the gift card users are. The customer who selects a merchant gift card as reward for doing a great job or through their credit card loyalty program are in fact consumers and therefore, potential brand advocates, and incremental new customers of the future. The consumer who redeems for a gift card is one
Working in the B2B and corporate side of the gift card industry, this story caught my eye as it’s a clear indication of the power of gift cards as a consumer promotion and spending incentive. As a wanna-be power-user of my loyalty rewards and savvy consumer, I’m drooling over this story. Here’s what Cardratings.com has to say about recent gift cards offers as loyalty rewards & credit card promotions.“Bonus offers on credit cards have never been juicier, said Cardratings.com founder Curtis Arnold, who has followed the industry for about 10 years. Arnold said he was "blown away" recently by an offer he received -- and quickly snapped up -- for the American Express Business Gold rewards card. He'll get $500 in gift cards if he charges $2,000 in the first three months, plus the card's $125 annual fee is waived for the first year.” Beyond how cool it is to get a free $500 gift card bucks, I know when I am given gift cards as an incentive or request them through my loyalty & rewards programs, I truly feel like it’s a “gift for ME”. When I receive and spend credit card style gift cards (open loop) cards, I tend to spend them on practical items, like food shopping or gas or not remember where I spent them or on what. For this reason, I much prefer closed loop or brand/retailer specific gift cards. This is likely why Amex offers gift cards from specific retailers, rather than just their own…they are much preferred by employees as incentives, loyalty rewards program users, and consumers for incentive and promotions. For more on how credit card companies are using bonuses like gift cards to woo new customers, click here.
From our eNews: Waste of Time & Money or Money Well-Spent? When creating our eNews, we sometimes come across information a little outside of health specific gift card news; this is such a piece. We have seen writings representing both sides of the debate over health risk assessments and their value to an organization, and we feel that this article outlines some great viewpoints and information. We're glad you stopped by! Leave a comment to voice your opinion or share an HRA success story ... waste or worth it?
We are getting such great feedback; We will now draw 2 winners! Each will win a $50.00 gift card of your choice! Do you use gift cards for health and wellness incentives, employee rewards, sales incentives, fundraising, loyalty programs, consumer promotions or safety rewards? If so, we’d love to hear how you are using your gift cards. We recently offered this survey to our eNewsletter subscribers and we had a huge turn-out of responses! We hope you’ll participate in part 2 of this survey… You’ll be presented a maximum of 5 required questions. Should you complete the survey and submit your gift card usage success story, you'll be entered into our drawing for a chance to win 1 of 2 $50.00 gift cards. The drawing winners can select from The Children’s Place, Brinker (1 card for 4 great restaurants: Chili's, The Macaroni Grill, On The Border and Maggiano’s Little Italy), Charming Shoppes (1 card for 3 great fashion retailers: Fashion Bug, Lane Bryant and Catherine's) and CVS/pharmacy cards. GiftCard Partners will post the gift card usage results on our website. Click here to take our survey and submit your gift card success story. Peruse our Blog…like what you see? Subscribe to our Blog RSS feed and eNewletter and you’ll receive timely information about the B2B gift card industry. Our research, editorials and aggregated news stories are compiled into eNews to keep you informed on innovative gift card programs, legal and legislative issues and cutting edge gift card technologies.
In our constant efforts to stay apprised of up and coming gift card technologies, GiftCard Partners recently investigated which of the Top 50 Retailers(1) are accepting gift cards as payment online. We found that over half of the Top 50 retailers do. Among those that don’t, they are primarily restaurants or drugstores. Getting in touch with your gift card e-retail side is now more important than ever. Wide-spread broad-band across America has contributed to an increase of internet users, from 55% to a whopping 84% in the last 10 years(2). Not only will adopting online gift card redemption enhance customer convenience, increase sales, and amplify loyalty; it is also a foray into the mobile internet realm, which is predicted to overtake desktop internet usage by 2013(3). No matter the size of your business, not accepting online gift card redemption is a missed opportunity to engage with customers via their potential preferred researching and buying method. Other opportunities include: * Decrease in breakage (if they are in your breakage #’s they are lost customers)
The GiftCard Partners name and logo, and other trademarks are trademarks of GiftCard Partners Inc. and may not be used without permission. The names of other companies, products and services are the property of their respective owners.