Industry Perspectives

Moving Toward a Virtual Prepaid Incentive Market

 

Providing regular incentives and rewards to employees who deliver outstanding results throughout the year has been shown, time and time again, to be a successful way to do business. Keeping employees motivated, especially during these difficult economical times is even more important. 

Other employees also get motivated when they see the best performers around them receiving rewards – both monetary and trophy- incenting them to work towards also achieving those same high standards. What is paramount to making such a program successful, is providing a reward that is highly valued, and one that employees will work towards achieving. 


 One of the most popular, and highly valued, reward or incentive available in the industry today is gift cards.  There is a fantastic new player in this space that everyone is hearing about – virtual gift cards or eGift cards.  In the past, physical gift cards were used to distribute rewards or incentives to one’s employees. Now, eGift cards provide a more flexible way to reward and incent employees.  eGift cards provide powerful advantages over physical gift cards: 

 

  1. The cost of fulfillment and delivery is significantly decreased since all the handling and fulfillment is electronic.

     
  2. They can be instantly delivered – no waiting for snail mail (instant gratification).

     
  3. They have no delivery or shipping time to the recipient.

     
  4. They are easily ordered on the internet, singularly or in bulk.

     
  5. There is no need to carry a physical card – eGift cards are stored in the recipients email or even on their smart phone, so they are not lost or misplaced.

     
  6. They can be redeemed instantly on the internet

     
  7. More and more retailers are offering this convenient solution


    tally egift card
    From Mercator Advisory Group’s The Future of Gift Cards Is Not ‘Plastics! Note
     

     

What’s even more exciting for loyalty and rewards program managers is that there are companies like iCardMall.com, who provide a white label program for their entire eGift card mall. This allows program managers to provide their clients with the widest selection of eGift cards available on the market, with the best bulk discount rates available.  


Programs such as these allow a simple plug in – any program manager can instantly have an entire mall of gift cards at their fingertips, with the clean user interface, gift card management, inventory, fulfillment and customer service.  Program managers or employers can customize and personalize their eGift card with a real eGreeting card. iCardMall’s patent pending design allows for this type of personal messaging. Not only does the employee receive a highly valued reward, but a heartfelt message of thanks or encouragement, in stylish “packaging”, to go along with it. 



 Egift cards provide a modern and hassle free means of reward or incentive. Their convenience, flexibility and instant delivery make them a product that consumers love. They already loved gift cards – and now that they have become more convenient and easier to save and use, they can be expected to only increase in popularity.


  

Tally Oliveau is President and Founder of iCardMall.com, an online eGift card mall. iCardMall provides businesses a way to efficiently and conveniantly manage and send employee rewards and incentives. iCardMall also has a consumer facing business to provide consumers with a stylish and personalized eGift card solution . Currently there are almost 100 top retail brands aggregated at iCardMall.
Visit iCardMall at: https://www.icardmall.com/index.php/loyalty-and-rewards-programs?___store=default 

   

 

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