A Helpful Gift Card Solution August 15, 2008 CPI offers gift cards that are only paid for when the recipient redeems them
Corporations that pay face value for prepaid incentive gift cards and reward programs can sometimes get caught holding the bag on unredeemed cards. To help ease these concerns, Corporate Promotions & Incentives LLC is now offering customized gift cards that businesses don't pay for until they're redeemed.
According to Corporate Promotions & Incentives President Kelley Boster, her firm's approach is to offer businesses the gifting power without unnecessary upfront expenditure on unredeemed corporate incentive gifts.
"The industry has been buzzing over consumer rights, where cards have been purchased and then never used," CPI president Kelley Boster said. "In addition to gift cards that are not redeemed, some actually expire, and others devalue over time. What we've done is to create customized gift cards against our 2,700-plus-item online rewards store so that our clients only pay at program launch for the creation of the cards, not their face value. Only when cards are awarded and redeemed by the participating patron or employee for corporate customer gifts&and only if they are redeemed&is the client invoiced for the merchandise from us."
"Corporate Promotions & Incentives is an advocate for the small- to medium-sized business owner or sales manager who is challenged every day to generate results and stay competitive in this very challenging economic time," explains Boster. "Customized, highly motivating incentive programs and benefits that fully engage and inspire program participants are our primary focus and the cornerstone of our business. Eliminating waste and keeping with our 'pay for performance' philosophy, we also incorporate unheard of value with a built-in return on investment to every program."
Recipients redeem their reward points for designer handbags, electronics, apparel, furniture, travel, services and other incentive gifts at CPI's online rewards store, Corporate-Pros.com. Another advantage of the system, according to Boster, is that when rewards are selected, businesses can gain insight into recipients' personal interests and tastes for future reference.
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