A Guide to Business Gift Cards & Corporate Gift Cards
Published:29 Jun 2022
When it comes to corporate gift ideas, gift cards are always a popular choice. They are practical, and everyone can use them and they work a little bit like cash! Plus, they come in a variety of styles and designs, or for different shops and stores, so you can find one that will suit the personality of the recipient. Business Gift Cards refers to when businesses buy gift cards in bulk and use them to reward and recognise as part of their corporate reward strategy.
In this blog post, we will discuss some of the best business gift cards available on the market today, how gift cards work and we will also provide tips on how to choose the right card for your needs. So if you are looking for a unique and practical gift for a colleague or client, be sure to read on!
What is a gift card?
A gift card is a prepaid card that can be used as a form of payment for goods or services. The first ever gift card was introduced in the US in 1995, and since then, they have become increasingly popular all over the world. Gift cards can be used as an alternative to cash or cheques and are often given as a present or gift.
What is a digital gift card?
A digital gift card is a gift card that is delivered to the recipient electronically, usually via email, SMS or through an app. The recipient can then print out the gift card and use it in-store or online, or show a code at the till. A digital gift code or reward code can be used to redeem a gift card or an eCode for another retailer.
Example of how a reward code works:
You give your customer a £50 value onecode reward token. They log on to onecode.co.uk and swap this £50 for a £10 amazon gift card (delivered to their home), a £10 asos eCode they use at the checkout on their next purchase, and they swap the residual £30 for a John Lewis digital code.
How do business gift cards work?
Business gift cards work in the same way as regular gift cards, but they are specifically designed for businesses to use. They can be bought in bulk and are often used as a way to reward and recognise employees. Business gift cards can also be given to clients and customers as a thank you or as a promotional tool.
Simply, this is where you purchase gift cards not just 'off the shelf' at a supermarket, but in bulk for sending to your clients, customers or employees as a reward.
Can you buy gift cards for business anywhere?
Theoretically you could swing by a supermarket and get 500 gift cards, but it won't be a fun task to load them all, keep them, mail them out and track them. A corporate reward and business gift card specialist sees that this is all done for you.
Why send a gift card as a corporate reward/ gift?
Business Gift Cards are a popular choice for corporate gifts as they are practical and can be used by anyone, and are even better when they work for multi retailer (open loop.)
What's the difference between open and closed loop gift cards?
If you've seen this term you might wonder what on earth it means. Simply - open loop gift cards can be used at any store that accepts the card network, such as Visa or Mastercard. Closed loop gift cards can only be used at the specific retailer or store.
Most business gift cards are open loop cards as they offer more flexibility to the recipient and are more likely to be used.
Love2Shop (available through Simply Thank You) is an example of an open loop business gift card that can be used at over 20,000 stores nationwide, including major retailers such as Argos, Debenhams and Boots.
What are some tips for choosing the right gift card for business?
When choosing a gift card for your business, it is important to consider who the recipients will be and what their interests. This is why open loop cards are so successful - you can almost guarantee that the recipient will be happy with the card.
Check that:
They can be replaced
If the recipient loses a gift card code, it can often be replaced. The system simply eliminates the old code and supplies a new one.
**They can be tracked **
How can you tell if your chocolates or wine were eaten? You have to ask! With a gift card for business purchased through the right supplier, you can see if the recipient has redeemed their reward code balance. Ask your business gift card supplier what they can track and show you.
**They are easy to send **
Whether you choose a reward code, a digital gift card or a physical card, they are all sent easily, often in minutes. You may only need the recipient's email and / or phone number. With many people working remotely and unwilling to give out a personal address, this makes it a corporate gift that you can give anytime, effortlessly. Ask the provider of gift cards for business how they make delivery easy!
Buy the onecode - the digital gift card token that can be swapped for gift cards and digital gift cards at your favourite retailers – as well as gifts and treats!