As the year draws to a close, many companies are looking for ways to reward employees for hard work. Digital gift cards are a great way to do this without spending a lot of time and energy deciding what to get.
Over the last few years, the popularity of digital gift cards has grown. In December 2020, the average number of gift cards sold per retailer increased by 106.2% compared to the previous year, and that trend is likely to continue.
Digital gift cards are the perfect solution for company reward schemes. By implementing digital gift cards as a product, you can sell them and use them to create your own employee reward scheme.
Here, we will explain why gift cards are perfect for employee incentives and holiday gifts and how you can sell them on your platform.
Start selling Digital Gift Cards in time for the holidays – contact Reloadly’s sales team today.
How companies benefit from employee reward schemes
In an increasingly competitive job market, companies must do everything possible to retain their best talent. A company reward program is an excellent opportunity to keep employees happy and motivated.
There are many reasons why companies should have benefit schemes for their employees. Rewarding employees for their work can help:
- Attract and retain the best talent — Keep your best employees and attract new ones to your company by making it clear that you reward high performance.
- Boost morale and employee happiness — Create a positive environment at the company.
- Provide motivation — Give people an incentive to perform at their best throughout the year.
- Encourage friendly competition — Create an environment where employees want to be seen working the hardest.
- Promote engagement and loyalty — Encourage employees to participate, engage, and remain loyal to your brand.
You can reward exceptional performance, achievement of goals, reaching service milestones at the company, or even landmark birthdays and life events.
While you can give rewards at any time of year, the holiday season is the most common time for companies to show appreciation for their employees. Designing a fair reward scheme is complicated, but you can make it easier by rewarding employees with digital gift cards.
Why gift cards make the best company rewards
You might think that gift cards are unoriginal or impersonal gifts, but people love to receive them. In a survey by Incentive Research Foundation, 44.07% of employees agreed that gift cards were the best kind of reward they could receive. 27.12% said they considered gift cards a good reward to receive.
Here are a few reasons gift cards are a better choice for employee benefits than cash or physical gifts.
Empower employees with choice
If you buy tangible gifts for your employees, you can either play it safe with a generic gift, or spend time searching for something they want and don’t have. Both options leave the possibility that your employee won’t be entirely happy with the gift, which will go to waste.
On the other hand, a gift card gives the recipient the freedom to choose what they want for themselves. They can also decide when to redeem the card and wait for a specific product to come into stock.
Time and cost-effective
Digital gift cards are easy to purchase and make simple, flexible gifts that don’t require much time and energy in decision-making.
You can quickly adapt the value of gift cards. So, a remote company with employees around the world can make sure the value of their rewards is adapted to the salaries and local economy of each of their employees.
Create more memorable experiences
Gift cards may not be as flexible as cash-based compensation, but they are much more appropriate and memorable as rewards for the holiday season.
Cash-based incentives, or bonuses, should not be seen as the same thing as gifts. When you offer your employees a cash bonus, that extra money can be easily absorbed into the rest of the monthly payment. They will most likely use it for everyday expenses.
In contrast, a gift card is more likely to feel special. It encourages recipients to treat themself to a unique experience or purchase an item they want. This leads to a happy reminder of their achievement that will be more memorable than cash alone.
Easier to share and celebrate achievement
Most employees are reluctant to discuss the details of their salary and bonus compensation with their teammates. Likewise, they are uncomfortable asking others how much they earn or receive in their bonus pay.
But if an employee receives a gift card as a reward, it’s easier to share that achievement with his or her team members. He or she can even publish it on the company’s social media and internal networks.
5 reasons to add Gift Cards to your platform
With all that being said, as the holiday season approaches, companies are going to be looking for easy ways to purchase rewards for their employees.
By adding Reloadly’s Digital Gift Cards API to your platform, you can sell them to companies that want to reward their employees or create a reward scheme for your company.
Here are 5 reasons to sell gift cards through your site:
1. Easy to set up
All you need to do is integrate Reloadly’s API with your website, and you’ll be able to distribute gift cards from many well-known brands.You can then manage your balances in a single dashboard and integrate with payment services.
2. Earn extra profit
With Reloadly’s API, you can sell gift cards to your customers around the world in their local currency. This is a great way to boost your revenue by having more products to offer to your audience.
3. Increase brand awareness
Selling gift cards is another way to offer value to your customers and encourage them to make purchases on your site. It provides another touchpoint for customers to interact with your brand and an opportunity to earn their trust and loyalty.
4. Create company culture
If you are distributing gift cards to your employees as part of your reward strategy, this will help you develop a company culture where employees feel valued and want to give their best to the company.
5. Sell to a wide variety of customers
We’ve discussed how gift cards are perfect for corporate reward schemes. However, digital gift cards can also be bought and used by academic institutions, digital research firms and NGOs as rewards and gifts.
How to sell digital gift cards on your platform
The first step to start selling digital gift cards on your platform is to sign up to Reloadly – it’s free, and there’s no contract required. Then, get your Reloadly API keys, integrate your website or app with our API, and start selling digital gift cards!
In a matter of minutes, you’ll be ready to distribute gift cards in bulk around the globe. Plus, you can choose from over 300 different retailers, including Amazon, Apple, Roblox, and many more. Thanks to such a wide variety of retailers, companies can purchase the ideal rewards for their employees from you. You’ll even be able to track and analyze your gift card sales metrics in one dashboard.
For help getting set up, contact us or follow our quickstart guides, either by using a C# application, or a Go application.
Start selling digital gift cards in time for the holidays – contact Reloadly’s sales team today.
