5 Reasons Why Your Business Needs A Holiday Prepaid Card Program
The holiday season is quickly approaching. Is your business ready? Keeping your employees and customers happy during a busy and hectic holiday season can be the difference between getting a present or a lump of coal at the end of your yearly reports. Stand out from your competition by giving a gift that people actually want: a holiday prepaid card.
Here are 5 reasons why your business should create a holiday prepaid card program:
Strengthen The Employer-Employee Bond With A Holiday Prepaid Card
For your business, your number one asset is your employees. How do you show them that you care during the holiday season? How do you make them feel valued? A great way to show you appreciate your employees and all of their hard work is with a prepaid card.
Whether it’s given as a holiday gift or an end-of-year bonus, a holiday prepaid card covers all your bases. A prepaid card lets your employees buy what they want, when they want, and shop anywhere Visa is accepted, both instore and online. And thanks to our branded options and customization capabilities, your company will be on their mind when your employees make their holiday shopping purchases. A prepaid card will motivate sales staff to hit their targets and will inspire them to work harder for you because you have shown that you value their commitment.
Prepaid programs build loyalty, improve employee morale, and create a corporate culture built to succeed in the future, especially in sales and commission-driven industries. Your company’s culture is what separates you from the competition. It can make the difference between hiring and retention.
Give A Gift That People Actually Want With A Holiday Prepaid Card
According to a CPPO survey, open-loop incentive cards are the top holiday gift. 95 percent of Canadians say that they are satisfied with prepaid cards, which is the highest satisfaction rate out of all payment tools. 79 percent of Canadians say they would like to receive an open-loop incentive card. 78 percent would prefer to receive an open-loop card versus a closed-loop gift card during the holiday season.
A holiday prepaid card delivers a personalized experience, offers choice, and gives your customers immediacy. A store-bought gift card for a restaurant or clothing store can make for a nice present, but they have their drawbacks: closed-loop cards can only be used at one specific retailer, they promote other brands, it feels impersonal and outdated, and they don’t offer you any data on shopping habits. Speaking of shopping habits…
Gain Valuable Insights on Behaviour, Trends, And Spending With A Holiday Prepaid Card
A prepaid program offers invaluable data insights. Find out how much your customers are spending, when they spend it, and which merchants are their holiday shopping favourites. Are the cards being used, or do they got lost in the post-holiday shuffle? Are funds being left on the card? If your employees all favour the same holiday restaurant or enjoy donating to the same charity, you can use this information to further enhance their experience down the line. Use cardholder and transaction data to help improve your future marketing strategies and fine-tune your business partnerships. If you want to know about your customers’ holiday shopping habits, give them a holiday prepaid card.
Brand The Customer Experience With A Holiday Prepaid Card
Every company is gunning for customers during the holiday rush–don’t let your brand get lost in the onslaught of advertisement, deals, and promos! A branded prepaid card with your logo will help ensure that your company stays on the mind of your consumers, your employees, and anyone else who sees it. Every time a cardholder uses your prepaid card to make a purchase, you are increasing your brand awareness and improving your brand loyalty. Fully brand the customer experience by having customized cardholder sites, redemption sites, cards, and more.
The holiday season is also a great time to draw in new customers and reaffirm your company’s beliefs and values. Do some good this holiday season and gift branded prepaid cards to charities and shelters to help those in need; your customers will take notice. Take it one step further and give your employees the option to pick their favourite charities to send the prepaid cards to–everyone wins!
Offer The Best Online & Mobile Experience With A Holiday Prepaid Card
80 percent of shoppers say they are “highly likely” to shop online for holiday gifts, with 53 percent stating that they will purchase “most of their gifts” online. Thanks in large part to mobile shopping, e-commerce sales increased 20 percent during the holiday to over $100 billion, with November and December accounting for nearly a quarter of the entire year’s e-commerce sales in the US. A whopping 81 million people shopped online on Cyber Monday, contributing to over $3.35 billion in e-commerce spending.
A holiday prepaid card program offers your consumers the security and flexibility to easily shop online for their favourite products. Don’t sleep on mobile, either! As mobile sales continue to rise and hit record highs, it’s important your company offers mobile services. The new TruCash Wallet App, available now on the Google Play Store and the iTunes App Store, puts your account at your fingertips and allows you to manage payments and rewards on the go. Users can access their cards quickly and securely from anywhere in the world, in real-time, using the latest in cloud technology.
No matter what prepaid program you decide on, you’re sure to generate brand awareness, loyalty, and valuable insights during one of the busiest seasons of the year!
Check out our 2019 Holiday Incentive E-Book below to see how DCR Strategies can help you win the season with innovative incentives that make an impact:
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