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Why Corporate Gifting Is Important
Corporate gifting is on the rise. According to Forbes, the 2021 corporate gifting marketing spend was $242B and is estimated to reach $312B by 2025 in a study by Coresight Research and GiftNow. There are many reasons why companies give corporate gifts to their clients and employees.
Client/Customer Focused
Corporate Gifts Create Brand AwarenessA well-executed corporate gift campaign can be an extremely effective way to build brand awareness for a company. By sending branded gifts to customers and potential customers, a company can create a positive association between its brand and the gift itself. This can lead to increased brand awareness and loyalty among customers. Gifts that align with the company’s values and mission can help to communicate the brand’s identity.
Corporate Gifts Give ThanksA corporate gift is a tangible way of thanking a client for their business and showing appreciation for their loyalty. It can be something as simple as a branded pen or mug, or something more luxurious, like a gift voucher or experience day. Whatever the gift, it shows that the company appreciates the client and wants to keep them happy.
Holiday Corporate Gifts Show Your AppreciationGiving corporate gifts is a great way to show your appreciation to your clients during the holiday season. Not only are these gifts practical, but they are also a great way to show your company’s holiday spirit. Corporate gifts can include items such as gift cards, personalized ornaments, and even gift baskets. No matter what you choose, be sure to pick something that is unique and memorable.
Employee Focused
Use Corporate Gifts to Motivate EmployeesEmployees are often motivated to work harder when they are rewarded with gifts. This can be extremely useful with your sales team, customer service group or warehouse distribution staff. Gifts can range from a small token of appreciation, such as a gift card or a small gift, or a more significant reward, such as a bonus or a promotion. Gifts motivate employees by showing them that their hard work is appreciated and that they are valued members of the team. They can also help to boost morale and create a positive work environment.
Employee Recognition Gifts Can Raise Morale and Profitability
A Gallup Study from 2020 about Employee engagement and performance found that companies with highly engaged workers generated higher profitability. Employee recognition gifts can acknowledge and reinforce positive behaviors, leading to employees who are more highly engaged with their job and their company.
A gesture of appreciation from a company to its employees can be anything from a water bottle with the company logo on it to a more significant gift, such as a vacation. They can also be a way to reward employees for a job well done while building morale and team spirit among employees.
Gifts are often given to employees to celebrate milestones in their career. This could be a promotion, an anniversary, or a significant accomplishment. They can also be a way to show the employee that the company is proud of them. Gifts can be anything from a simple plaque or a gift card to a more elaborate gift basket or a trip. Whatever the gift may be, it is usually a way to show the employee that they are valued and that the company wants to continue to work with them.
Wellness Gifts Promote Healthier Employees and WorkplaceA great way to promote workplace wellness is by giving corporate gifts that encourage employees to stay active and healthy. Some great options include fitness trackers, healthy snacks, and gift certificates to local gyms or yoga studios. By giving these gifts, you are not only promoting a healthy workplace, but you are also showing your employees that you care about their well-being. It is the perfect way to show your employees that you care about work-life balance.
Creating a Corporate Gift Strategy That Works
Begin With Your CalendarWhen you begin to think about creating a Corporate Gift Strategy, a good place to begin is by looking at your corporate calendar. For employee gifts, look at significant company-wide events in the year where it might be appropriate to give gifts, for example at your summer picnic, holiday party or annual business review. For client gifts, consider business events or expos you attend annually.
Speak To Your TeamThe best ideas come from collaborative teams. Speak to executives and managers across the company to get ideas of when and where it would be appropriate to use corporate gifts. Executives may be the best to formulate overall strategy. Managers are your boots-on-the-ground and may be best suited to fill you in on upcoming sales-team meetings, monthly recognition events and team-building events. Human Resources should be able to compile a full list of milestone anniversaries and let you know about company-wide wellness programs.
Think About Gifting as a Marketing ToolIf you don’t do this already, think about using Corporate Gifts to turn prospects into clients. A tangible gift is now considered a disruptor. People are so used to being sent emails that receiving “real” items is unexpected, making it likely to be remembered. You can introduce your brand to future customers through items at a tradeshow, promotional items sent via the mail or dropped off during a face-to-face meeting. Gifts can help to create an interest and ultimately establish a trusting relationship.
Review Your Client RelationshipsInvesting in your client relationships is vital to your business success. This means reminding your clients how much you appreciate their business and thanking them for investing in you. These corporate gifts keep your brand in the foreground. Gifts can be individualized for a single person or can be group gift that thank an entire team. Top executives believe that gifts facilitate deeper personal connections and are important to business success.
Be Ready For the UnexpectedYou just never know when it will be the right time to have a gift on-hand. Think of the time you had a sales rep suddenly land a big customer, or when a team finishes a large project early. These are perfect times to have corporate gifts at the ready to reward and inspire your team. Having an assortment of gifts of different price points guarantees that you are ready with the right gift when these unexpected events occur.
Creating A Corporate Gift BudgetPlanning now means less stress later. Determine what your goals are and create a budget that you believe will help reach those goals. When you calculate the costs of recruitment, on-boarding, and on-the-job training you can see how a gifting strategy can help retain an employee versus having to fill a new position. And when corporate gifts are part of your marketing plan, this budget can become a measurable tool to business success. Plus, according to the Internal Revenue Service, you can deduct $25 per person for business gifts.
Measuring Your ResultsIf you conduct annual employee survey’s you can track the happiness of your team. A common measure of employee satisfaction is employee retention. From the client perspective, you can measure increases in new customers, spend per client and overall sales. These metrics will help you establish the true return-on-investment.
Review Your Client RelationshipsInvesting in your client relationships is vital to your business success. This means reminding your clients how much you appreciate their business and thanking them for investing in you. These corporate gifts keep your brand in the foreground. Gifts can be individualized for a single person or can be group gift that thank an entire team. Top executives believe that gifts facilitate deeper personal connections and are important to business success.
Are you ready to boost your company morale and drive more business with unique and unexpected gifts?
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Corporate Gifts:
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