A promotion is defined as an activity that supports or provides active encouragement for any type of idea, product, or business in general.
Roughly 83% of consumers enjoy receiving a promotional product with an advertising message. There are hundreds of different types of promotions. These promotions range from consumer rebate incentives to corporate recognition incentives, all the way to consumer reward promotions. Promotions thrive in engaging customers, providing higher exposure, and helping your customers feel a sense of belonging to your business. 89% of consumers can recall the name of the advertiser on a promotional product they received in the past year. Pre-paid cards are the top promotion of 2016. Read on for tips to implement prepaid cards into your promotional content.
Prepaid cards are the most popular promotional item in 2015 and are only predicted to grow into a bigger business in 2016. However, there are different types of prepaid card products.
There are physical plastic prepaid cards which are nearly like a credit card but allow users to put their own money onto the card, helping with money management.
Virtual card codes allow users to use the card in a closed-loop format, a type of promotion used within a company or specific brand. For example, JC Penny’s card is a type of closed-loop promotion because the card can only be used in that brand.
When implementing prepaid debit cards, be sure to use either MasterCard, Visa, or Discover card, because these are the most accepted cards in the world. You want to make your promotions simple for your customers to use.
Implementing prepaid debit cards into your company’s promotions has multiple benefits.
The first is Money Management
Prepaid cards are reloadable. This means people can put money on their cards to the desired amount. This allows customers to limit spending, manage their cash flow, and teach their kids about cash management. When you only have so much money on a card (meaning NO credit), you absolutely can not overspend.
The second is the Building of your Brand
Prepaid cards instantly draw customers in. Businesses thrive when using this promotional tool because of the free branding. Every time that card is taken out and swiped in a restaurant, other business, or even for paying bills, other people are exposed to your brand.
Thirdly, Give your Customers what they Want
Promotional products draw in as many as 500% more referrals from satisfied customers than an appeal letter alone. Share this gift with your customer, and you will see instant benefits.