Corporate gifts giving is essential for any successful business. One question which runs in every businessman’s mind is ‘why give corporate gifts to clients?’ Corporate gifts help in enhancing and establishing personal relationship between the corporate and client. Most corporate companies will allocate separate budget for giving corporate gifts. Be it Christmas or New Year, these companies would like to wish and thank their clients with a corporate gift for the support extended by them throughout the year.
Whom to Gift:
Most companies prefer giving corporate gifts to their customers alone. New clients, customers with long term relationship or high profit generating customers are appreciated and thanked with corporate gifts. Large corporate companies extend corporate gifts even to their shareholders. This unique approach is often considered as a way to express their gratitude for the investments made by the shareholders. Few companies even consider gifting their suppliers; especially when a supplier has travelled with the company during rough period or has had long term relationship or has been providing additional support for the company for many years. Apart from customers, employees are also gifted to motivate and encourage. Even Media and government officials are thanked with corporate gifts by large corporate companies.
Budget for Corporate Gifts:
Budget for corporate gifts are mostly allocated by the marketing teams of small scale business and large corporate companies. Initially the company should decide who would they like to gift. Because of budget criteria, few companies would prefer gifting only their new clients for each year, few small companies would prefer gifting only their biggest or large volume generating clients and most companies prefer to gift their long term clients with whom they have had a relationship for more than five years. Allocating huge budget for corporate gifts by small developing companies is quite difficult. However it is essential to identify their key clients and encourage them to continue doing more business with them through corporate gifts.
What to Gift?
There are various gifting options when it comes to corporate gifts. Right from traditional gifting options like sweets, small gift baskets, greeting card, tickets, a thoughtful book to unique gifting options which are customized for each receiver, a membership in a health club, a well being gift which would pamper them mentally and physically and even a magazine subscription. Why not give completely new corporate gifts to clients? Recently a world changing gift like donation on behalf of the client is gaining popularity. A donation is made on client’s behalf to a charity wherein the client would receive a letter or receipt from the NGO thanking them for the contribution made.
Does Corporate Gift Giving increase business activity?
According researches it has been found that increased business activity and giving of corporate gifts are not directly related. However corporate gift giving will offer individual attention and increase a company’s rapport with their clients. These are relationship based programs which cannot be compared to company profits directly. Therefore corporate gifts are considered to be the ideal way for expressing a company’s appreciation and gratitude for their clients.