Here at Reward Cloud we've been on a mission to change the way people think about gift cards.
As with all new startup businesses you need to gain traction, credibility and most importantly revenue. Consequently our initial focus was to optimise and streamline some of the existing partnerships within the industry.
That said, as a pioneer of real time open value codes, we always had one eye on the bigger picture. It has been really exciting journey so far as we've been able to open up a number of new and innovative distribution channels:
- Incentivised cash out - allowing customers to enjoy a % uplift by cashing out their digital cash back balances. Examples of our Partners employing this include Quidco and Top Cashback.
- Cryptocurrencies conversion - customers across Europe will now be able to exchange their cryptocurrencies like Bitcoin, to purchase digital gift cards of any value they choose. An example Partner in this space is Gift Off.
- Activity based rewards - Set an individual target, be it health related like an exercise goal or a maybe a DIY goal like “paint the hall”. Then reward them with a gift card when they achieve it. An example partner in this space is Give A Nudge.
In unearthing these new channels we see the value that we can give to retailers; increasing as each one can introduce new incremental sales opportunities for their respective businesses.
Our hope is that as gift card managers enjoy more sales with better insight then hopefully they'll be keen to experiment with new distribution channels and broaden their reach.