Do you have an idea how much it costs to win over one new client? You must invest time and money before that client joins your customer base. You may spend the time and money and still miss the target. Yes, clients are that elusive. Research shows existing customers are likely to spend up to 80 percent more than new ones. Therefore, it is easier for you to cultivate an existing relationship than build a new one from scratch. Smart companies understand the importance of extending small gestures of kindness to their customers periodically.
The gesture will show you care and are willing to maintain a healthy relationship. One of the smart ways of maintaining healthy relationships with customers and staff is through corporate gifting. However, while gifting, be careful otherwise you could end up spoiling the relationship. To give you a safe landing, use the following strategies and rules when implementing corporate gifting;
- Think Before Gifting
Do not be carried away by the excitement of sending a gift hamper. Do not buy a gift to fulfill an obligation. Think before visiting any dealers of customised corporate gifts in Singapore. What do you want to achieve from such a gesture? What are the likes and dislikes of the customer? It would be a waste of time and resources to send someone a gift they will not use.
- Work on Solving a Problem
When meeting your customer for the first time and during your subsequent meetings, work towards understanding their struggles. You cannot capture such information mentally even with your photographic memory. Capture such details in your CRM system or take down notes. When the time comes to gift, you will be completing an already initiated process.
- Personalise the Gift
What impact will your gift create once received? Or it will be just another umbrella or diary, cup or calendar that they will add to their clutter? When you send mass gifts, you may overlook the need to send a personalised message to the recipient. For instance, if you are sending your customers a shopping voucher, address it to them. Use their full names and mention the services they use frequently in your company. When you do that, the customer will feel you actually know them, even by their full names; not only that, you also know what they like or purchase from your company.
- Timing is everything
Gifting should be a surprise. Send that gift humper when your customer is least expecting anything from you. Avoid sending a gift at Christmas, New Year or during festivities when every other company is doing it. Instead, choose to be different and instead of such events, send a gift when your customer is celebrating a major milestone in their life. It could be on their birthday, anniversary or they are celebrating a major achievement. Trust me, when you do that, you will be appreciated for your kind gesture. On the other side, avoid sending a gift when you are trying to mend a broken relationship or when wooing a potential customer. They could mistake this for bribery.
- Gift Responsibly
Before you plunge into corporate gifting, please take the time to understand what works with the recipient. Just like you, companies have policies and procedures that govern corporate gifting. Understand these policies, otherwise, you may break such rules. A gift could be viewed as a bribe by the receiving company and ruin your intentions. Research on what works and your gift will have the intended impact. Do not go for expensive gifts. Cheap personalised gifts in Singapore shops will help you choose a suitable one for the recipients.
- Work with a budget
Allocate a budget and stick to it, just like any other component of your business. You may be tempted to go flashy and overspend during festivities. While at it, ensure the set funds will cater for gifting all year around.
When you use the above ground rules when dishing out those gifts, you will never go wrong. Therefore, show your generosity with some customised corporate gifts and you will receive immense loyalty from your customers.