Despite 2022 being a rough year in terms of the economy, it’s both amazing and inspiring how companies continue to weather the storm. A lot of the industries are impacted by local and global economic factors, but some are still doing well despite the circumstances. For instance, Research and Markets saw that the Philippines’ gift card industry remains strong. It is even expected to continue growing well until 2026!
According to the report, the steady growth in the gift card industry was due to many reasons, including the exponential growth of ecommerce, as well as the initiatives of the government, hospitality, and travel industries to revive the economy. Another factor that contributed to this increase is that more and more companies are turning to gift cards in incentivizing their employees, especially those who continue to work remotely.
As your organization also continues to remain steadfast given the economic situation, how you take care of your internal and external business partners can spell the difference between a fruitful or an even more challenging year ahead for you. Now, more than ever, it is important to keep your relationships stronger and healthier. This means forging stronger connections with your clients and customers, and nurturing the lifeblood of your business, which are your employees. Let’s take a look at some examples on how you can make this happen.
The role of digital rewards in strengthening employee satisfaction
Your employees are the reason why your company is where it is today. Attracting, as well as retaining, quality talent is essential in making sure that your company can achieve the goals you have set for your organization. The management should set measures that would improve the employee experience at your company. Some of these measures could include:
- Improving internal communication for efficient feedback sessions;
- Promoting work-life balance by investing in employee wellness;
- Giving signing bonuses to woo the right talents for your team; or even
- Rewarding and incentivizing your current employees to be more productive at work.
When it comes to rewards and incentives, consider riding on the growth of the gift card industry and see how digital rewards, such as digital gift certificates (GCs), can work to your advantage. Some benefits include:
- An increased satisfaction among employees, knowing that the company is aware of their contributions at work;
- A highly-engaged workforce that actively participates in company-wide programs, events, and initiatives;
- An attractive signing bonus or compensation package to get the best hires.
Cultivating a good employee experience at your company would mean an overall positive company culture that inspires employees. They will go to work every day at a company where their wellness is made a priority. And when employees are happy, the company thrives.
The role of corporate gifting in nurturing B2B relationships
There are many ways in which you can build stronger connections with your clients and/or customers. These include:
- Delivering quality products or services without delays;
- Providing exceptional after-sales service that positions your company as their growth partner; and
- Giving gifts to your clients that will make you even more memorable.
“Gifts are symbols of the value you place in the relationship,” says John Ruhlin, who is author of the book, Giftology. Whether big or small, a giveaway or a token of appreciation, gifts are always appreciated. It’s the thought that counts, and the one that could deepen your relationship with your clients. Similarly, digital rewards can help you in this aspect since you can:
- Earn stronger recall and affinity for your brand through giveaways and promotions;
- Increase customer satisfaction through complementing loyalty programs; and
- Understand your customer’s behavior better by integrating your digital rewards to your consumer journey systems.
The best digital gift certificates for 2023
Whether you’re strengthening internal relationships or nurturing external ones, Sodexo surely has a range of products that will suit your requirement. There are three digital GCs for you to choose from:1. Sodexo+ digital GC
This is Sodexo’s leading and most versatile gift certificate that allows for easy distribution and management through a web portal. The Sodexo+ digital GC is also the only GC that allows partial redemptions and is accepted by over 9,000 partner merchants across the Philippines.2. Mobile Pass
With Mobile Pass, you can easily distribute digital GCs whether through SMS or email. It is also accepted in thousands of grocery, shopping, and dining establishments nationwide. Redemption is also easy as your recipients will only need to present the unique codes to the merchants once they are ready to purchase.3. SM Gift Pass digital GC
Another gift certificate that comes in the form of digital credits. What’s great about this digital GC is that it’s accepted in all SM Stores and SM Markets nationwide, and even in SM affiliate brands. This includes Our Home, Miniso, Watsons, and even Uniqlo!
Not only are these digital GCs easy, convenient, and secure, they also offer your recipients the power to choose the rewards that they want.
When done right, your rewards and incentives program will help your clients, customers, and employees remember you for being the kind of organization that cares about their well-being. In return, Sodexo will be the partner that takes care of your well-being. With over 20 years of expertise, an array of proven effective solutions, and the trust of over 4,000 companies in the country, Sodexo is definitely the right choice for you in your digital rewarding endeavor.