It’s like giving cash, only better! Purchasing that perfect gift for business associates has just gotten easier with the recent innovation of corporate gift cards. The newest and most convenient way to give, gift cards are much appreciated tokens of recognition and achievement for deserving employees. Whether you’re thanking one person for a job well done, acknowledging your best customer, or treating your entire staff, gift cards are the easiest and best way to give business gifts. What’s more, gift cards are a unique way to increase your brand awareness and customer loyalty.
Many top executives are only now learning how to use gift cards to reward and recognize their valued customers and employees. Some savvy business leaders need a primer on gift cards and how best to use them. A gift card provides a monetary equivalent or scrip that is issued by retailers or banks to be used as an alternative to a non-monetary gift. Highly popular, they rank as the second-most given gift by consumers in the United States. Gift cards have become increasingly popular because as they relieve the donor of investing much time and energy in selecting a specific gift. In Canada, $1.8 billion were spent on gift cards and in the UK, it is estimated to reach 3 billion (GBP) for 2009 whereas in the United States, about $80 billion were paid for gift cards in 2006.
The recipient of the gift card can use it at his or her discretion within the restrictions set by the issuing agency. A gift card may resemble a credit card or display a specific theme on a plastic card the size of a credit card. The card is identified by a specific number or code, not usually with an individual name, and thus could be used by anybody. They are backed by an on-line electronic system for authorization. Some gift cards can be reloaded by payment and can be used thus multiple times.
Gift cards can also be custom tailored to meet specific needs. By adding a custom message or name on the front of the card, it can make for an individualized gift or incentive to an employee to show how greatly they are appreciated. Gift cards differ from gift certificates, in that the latter are usually sold as a paper document with an authorized signature by a restaurant, store, or other individual establishment as a voucher for a future service; there is no electronic authorization. A gift certificate may or may not have an expiration date and generally has no administrative fees.
If you have a business and are searching for the perfect incentive program gift cards can help you give employees recognition, and reward loyal customers while you advertise your company’s brand by adding your logo to your cards. Gift cards make business more personal. Take the hassle out of selecting gifts and save yourself valuable time by making use of this great new way to give.
Written by Art Thornton with Fairway Rewards
Fairway Rewards offers concierge services, golf gift cards, and complete tournament planning that can save you time and money. For information contact fairwayrewards.com, or call us at 1-877-270-7273.