Every company wants to build a strong, long-term customer relationship. You can reach out to your customers and staff with corporate gifting to show your compassion and appreciation for them. While corporate gifting has been an idea for many years, their power remains remarkable, irreplaceable and exceptional.
But, what are corporate gifts?
Corporate gifts are an excellent means to demonstrate gratitude and enhance customer interactions. They help strengthen employee morals, motivate, encourage and respect them. Corporate gifts are internal or external gifts given to either clients or employees by the top management executives.
While choosing a gift for your loved ones might be easy, corporate gifting brings in a lot of brainstorming as one is not always sure what the employee or client prefers.
Benefits of corporate gifting
1. Helps develop B2B relationships
Companies consist of people, and everyone loves to receive gifts. Receiving a gift brings more attention of the receiver to the one who sends the gift. If your gift is a promotional product, the receiver can use it in their office environment. It reminds the workplace of your good intent and helpfulness. This can be a significant step forward in creating relationships with existing and future clients.
2. Raises more awareness about your brand
Your name literally comes out with the use of promotional material for corporate gifting. You promote awareness of your brand by sending gifts with your name, logo and contact information. By obtaining something free from your company, they relate positively to the gift and your company.
3. Boosts customer loyalty
Customers receiving corporate gifts will bring you business over and over again. Gifting can also strengthen the partnership between your company stakeholders. The recipient is reminded via corporate donations that their business is valuable to you. This, in turn, increases loyalty.
4. Increases your brand sales
Customers that receive corporate gifts spend more on the company’s products and services. Of course, sales will also grow in line with improved goodwill and brand recognition. Customers feel that they have a greater value for money by purchasing products and services from your business.
5. Generates more referrals
In generating new leads, your clients can put you in an incredibly valuable position. You can build on their enormous relationships by asking them to provide referrals. So, to increase lead generation, you can use promotional merchandise and offer these to your clients as an incentive to get more referrals.
Why must you have a corporate gifting strategy set in place for your brand?
The major advantages of having a corporate gifting plan are that you surprise and excite your clients with value and appreciation. Overall your clients will be happier, and as a result of your reinforced relationship, they will have you on top of their minds. While deciding upon corporate gifts is a crucial step, but knowing when, how and why you must do it is the prerequisite to a successful corporate gifting strategy. This was so crucial during the pandemic that we even put an article on customer relationship management during the pandemic to help our readers.
1. Note the timing of your gifting strategy
Typically, the most common time businesses present gifts is towards the end of the holiday season. It may be an inconvenience to your gifting strategy since it can become “expected” if each year you offer customers and staff a gift during those days. If you want to be distinctive, surprising and pleasant and create an impact, you can present gifts on other random occasions as well. You can base your gifting schedule on your client and the purpose of sending a gift. For example, you can send a thank you gift to your loyal client base for their new purchases.
2. Keep an eye on your budget
You should find higher ticket items instead of products that you can buy in large amounts to receive a discount on prices. Make sure that you construct a budget to find out how much you should (and can) spend. Thus, you will know the proper amount of spending that works for your business, strategy when purchasing corporate gifts.
Our final thoughts
“We foresee corporate gifting is a long-term habit that is going to be sustained in the post-Covid world,” GiftNow’s Payne believes (read full article).
Although corporate gifting strategies and incentives are not obligatory, it offers several opportunities to maintain a connection. On the other hand, if you choose to make corporate gifting a part of your organisation’s strategy, take the time to ensure that you have a strategic plan in place. In addition, it might influence the way you show your clients and staff how much you regard and appreciate them. As a result, this plan helps you to achieve the above benefits, which will enable you to build up results!
We offer a wide choice of bulk promotional gifts, premium corporate gifts and theme gifts. Just read more on our Corporate Gifting page here. Feel free to contact us for all your corporate gifting requirements and our team will get in touch with you within 24 hours.