Remember as a child getting a book token inside a card? Maybe you really lucked out and got a paper WHSmith gift voucher that you swapped for a stamp collecting kit. Peak childhood! For many of us, we’ve grown up with gift cards or vouchers being a physical, plastic or paper thing. But digital gifting is now huge and is set to be worth $1.5 trillion Globally by 2032.
While many of us feel confident buying or using eGifts or eVouchers personally, there can be some barriers to wanting to give an eGift in business. Want some use cases? We’ve got you.
Here are some of the reasons you might want to go digital with your rewards, incentives and gifts.
1. eGift cards are unmatched as sporadic spot rewards
An IncentiveMag survey found that 47% of employees want to receive a personalised reward spontaneously.
You might keep a drawer full of loaded gift cards ready to reward. While this is heartening, it also carries inherent risk of damage or theft, or simply running out at the most inconvenient time. An IOU doesn’t really cut it! For spot rewards that have instant effects to cement that great behaviour, digital gifts such as e-Vouchers and egift cards really are the best, especially for an open loop, multiple retailer choice card.
They tick all the boxes. The flexibility of choosing from retailers that align with their interests? Tick. The ability to ensure you’re always ahead in reward and recognition - tick. And bonus, it really is sorted in just a few clicks. No more shopping trips, reciepts, expenses claims and all the rest.
2. eGift cards make really good incentives
Over 70% of workers want their employers to do more to motivate them according to a Springworks study.
One of the latest trends in incentives is instant rewards or “micro-rewards”. These are small, immediate rewards that are given for completing a task or reaching a goal as part of (and not a replacement for) larger objectives. For example, a salesperson who hits their target for the month may be given a £50 gift card immediately, rather than waiting for their monthly bonus or larger incentive prize.
The advantage of instant rewards is that they are highly motivating, and the dopamine hit is immediate, so employees are more likely to stay focused and motivated. They also work well in a fast-paced environment where employees may not have the time or patience to wait for a monthly or quarterly bonus, or for short-term sales drives. Choose an eGift card and you can get them instant treats to spend that same day.
3. eGift cards can empower managers
A Globoforce study shows that only 14% of organisations provide managers with the necessary tools for rewards and recognition.
The old days of purchasing a gift card would have involved a trip to the shops and perhaps adding a personal handwritten sentiment to an envelope. Frankly, who has the time? eGifts offer far superior experience that empower managers to reward and recognise as they see fit.
(If you have a reward platform this is even easier, as budget limits can be assigned, as well as set templates for personalisation). The best part? Today's digital gifts meet the needs of a digitally native audience, in that they are delivered to their devices and can be spent online or in store. They are spoiled for choice.
4. eGift cards can reward remote staff
According to ONS 44% of UK workers currently work in some form of remote capacity in 2023.
If you’re overlooking little rewards for your remote teams, you do so at your peril. With a new way of working, keeping culture alive is key. You might want to do gifts, but have found that it’s a bit of a stodgy process with a virtual worker, asking them their home address, checking if they may be in to receive an item…the surprise is pretty much ruined! And what about the sporadic treats, the ice lolly on a hot day, or the hot chocolate on a cold one you get for the office workers?
eGifts solve all of these problems and create a culture of kindness all in a few clicks. Treats like a gift card for that afternoon coffee can be delivered to their device using the info you already have on them, so not only is the gift a treat, it’s a surprise treat.
5. eGift cards are eco friendly
36% of UK businesses believe CSR initiatives are very important, with 52% of them stating that it adds value to their business.
Even if you purchase recyclable gifts, 38% of people polled in a survey said confusing information on packs or from local authorities hinders recycling. An eGift (or at the very least, a clearly labeled recyclable gift card) offers a solution with a minimal carbon footprint.
6. eGift cards are a private gift
In a study of over 4000 UK employees, 31 per cent said that recognition was received in an “uncomfortable” way.
Not everyone feels comfortable accepting a huge gift basket or getting a spotlight put on them. How can you find an inclusive gift that can be discreet? eGifts, of course
When a digital gift is given, the value can be hidden. Digital gift cards or eGifts offer a virtual way of delivering currency that is specific to each recipient and is received privately without a big fuss.
7. eGift cards can be used for marketing
A recent study by Marketing Magazine found that 95% of respondents said ‘surprise and delight’ experiences boosted their positive perception of a brand.
If your business is using e-gift cards for employees, tell the marketing department that they might want to get involved too! Receiving a gift creates excitement and goodwill and it goes beyond just the recipient. In fact, according to CMO.com, 61% of consumers will tell friends and family about their experiences. It makes sense for marketers to use surprise ‘thank you’ or rewards to enhance customers’ experiences
Egift cards also work brilliantly in games or competitions, as promotional material for seasonal products and services (such as a perk for time limited offers, expos and ‘flash sales’) or as bait for a survey or another initiative. Once you master the ease of giving away an eGift card, you won’t go back!
8. eGift cards are simple to give and great to receive
From a corporate perspective, digital gifting is a welcome change to handling cash, presents or promotional merch. Goodbye, overstuffed cupboards, hello virtual shopping.
With EGifts, there’s no postage, dispatching or the administrative drain on resources.
When received, the users get something that they really want, presented in a way that feels ‘on brand’ but also personalised.
What could be better?
Get started today
Digital gifting is fast becoming the way that smarter businesses harness control over their reward and gift strategy and the best way to see if it works is to try it!
Try Lifestyle! There’s no admin fees, no minimum spend and your order will be fully account managed giving your lucky recipient’s access to over 200+ top brands.
Click here to explore the Lifestyle Gift Card for your business.