Q&A with Giftbit: The Quick & Simple B2B Rewards App
Below is an interview with Giftbit CEO, Leif Baradoy, where we discuss how all types of organizations can achieve great results by sending digital gift cards for their rewards and incentive programs.
Key takeaway: Giftbit is the quick, lightweight, user-friendly way for organizations to send digital rewards and scale their rewards and incentive programs — and it’s free!
CEO at Giftbit
Could you talk a bit about your company? Who is Giftbit?
I cofounded Giftbit in 2011. After a few pivots, the opportunity to make B2B rewards simple and remarkable really came into focus. In addition to building a lightweight and accessible app, I am proud of the unique and intentional company culture Giftbit has developed. Our team culture is guided by Giftbit’s 8 Cultural Principles. As Giftbit continues to grow, maintaining our unique culture is at the forefront of everything we do. Consequently, we’ve earned a reputation of high customer satisfaction, innovation and consistency. That’s led to Giftbit having low client and employee turnover. Giftbit is a company where our strategy and culture work together to benefit clients and the team.
What exactly does the Giftbit software do?
Giftbit is a simple, on-demand app that lets businesses send digital gift cards and rewards. Our software makes it really easy to buy and send in bulk or automate in a variety of ways — including integrating directly with our API, using no-code tools like Zapier, and even allowing clients to offer rewards within their own app.
Giftbit is attractive to our clients because they can quickly and easily build and scale their programs without
any extra strings attached — no annual or monthly contracts. People enjoy that.Our clients also like the ability to customize their offers with their own brand and messaging while giving recipients a wide variety of reward options — like Visa, Amazon, and Starbucks— from Giftbit’s large catalog. Recipients like choice.
Speaking of offers, what kind of rewards do people send with Giftbit?
The relationships we’ve established with our vendors allow us to offer a large selection of brands. The most popular ones are what I mentioned — Amazon, Starbucks, and the Visa Incentive card — but depending on use case, there are a variety of other engaging brand options like food delivery services, hotels, flights, restaurants, stores of all sorts. There’s something for everyone in the Giftbit catalog.
Many of our clients offer the gift of choice, which means they can select the dollar amount and a number of different brands, and then their recipients can choose their favorite to spend it on.
What is the pricing like?
We offer a free sign-up and free API access with no subscription fees, contracts or minimums. Our clients just pay face value for the gifts being offered. One of our best features is that Giftbit will give 50% credit back on any unclaimed offers so our clients can stretch their rewards budget further into their next campaign.
There’s no charge if the account is funded via wire transfer or through a bank. That said, there is an additional cost if they decide to send physical Visa Incentive cards (rather than the digital option) or if the account is funded with a credit card. Otherwise the entire budget goes directly to the rewards sent.
In a nutshell:
- Free sign up
- No minimums
- No subscription fees
- Pay face value of the gifts you send
- Get 50% back on unclaimed offers
That’s amazing! You mentioned that businesses use Giftbit. Can you elaborate more on the types of organizations you support?
Basically any business or organization – private or public – that has a need to reward or incentivize actions and behaviors will find value in Gifbit.
More specifically:
- SaaS and technology companies, organizations offering online services, and even the utilities sector use Giftbit for consumer incentive activities.
- Human resources departments love us for talent retention, employee appreciation, wellness stipends, bonuses, payouts and celebrations.
- Medical and academic researchers will use Giftbit to incentivize participation and survey responses for their studies. Similarly, market researchers will incentivize meetings and interviews to gather valuable data using Giftbit.
Can you list a few ways these clients actually use the tool? What is being incentivized & rewarded?
As you might expect, our clients’ use cases range, but some of the most popular ways that organizations use Giftbit are to:
- Incentivize sign-ups & provider switching
- Incentivize sales activities like meetings or calls
- Reward customer loyalty
- Build points-to-rewards & rebate programs
- Incentivize referrals
- Recover unhappy customers
- Increase survey & research participation
- Maintain talent & employee retention
- Achieve business goals & growth
- Deliver bonuses, stipends or employee wellness programs
The list really does go on and the sky’s the limit! We love seeing new and creative ways to include rewards and incentives into our clients’ organizational workflows.
Interesting! Okay, so how does it work? Are the rewards sent via email?
We have a variety of sending options. Our clients can choose to send rewards in bulk to a list of recipients (emails that are customized with their logo and messaging are sent to the people on their list). The bulk option also allows them to download a file of short links that they can either send via their own email systems, or send as sms messages.
If they prefer to automate, they can integrate directly with our API, or for a no-code solution, they can easily connect via the Zapier integration. Setting up automated triggers can really help scale programs quickly.
Another appealing option is to offer our rewards marketplace directly from their own website via the API with In-App Rewards. With this option their users can select, redeem and view the digital gift cards in real time, all within their own app.
From there, the Giftbit analytics tools track the performance of campaigns, redemption rates, and budget.
Another cool feature we added is Team Accounts. If our clients have people they’d like to collaborate with, they can invite colleagues to a company account to keep the process simple and their program intact.
You have competitors in the rewards and incentives space. How are you different from the alternatives?
The ease of use and speed to value that our clients enjoy at Giftbit sets us apart from the competition. Gifbit is lightweight and ready to use now. We don’t need to set up demos, or take a long time granting access to our API. We know our clients have more than rewards and incentives on their plate, so we make this piece of the puzzle really friendly to use. Just sign up and start sending! It’s easy and it works.
Another way we win in the space is with our unparalleled customer service and support. Our clients are always amazed at the level of personal attention and investment we make to help them meet their goals with the software. We really make the effort to help our clients achieve success.
Not to mention our attractive pricing structure!
What regions does Giftbit operate in?
The bulk of our customers are based in the United States and Canada. We do business with organizations from anywhere in the world, however we’re limited to sending to recipients in these regions. So, if they’re a business based in Australia, for example, we can send to their recipients in the United States and Canada. That said, we have a lot of exciting things on our product roadmap that may include an international option sooner rather than later.
Exciting! So, if an organization wants to try Giftbit, what should they do?
It’s really just so simple. Sign up for an account from our website and you’re in the door, no strings attached! If you need assistance, prefer a demo, or would like to have a conversation about how to get the best out of the tool, we’re here for you. We have a knowledgeable sales and onboarding team that can guide you through the initial steps, and our support and client success teams are ready to help you be the most successful with your programs. We really make it easy for you.
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