Whether you want to build a new business relationship or strengthen an existing one, you can use the power of corporate gifting. In the business world, the practice of giving gifts to your suppliers, customers, business partners, and employees is a normal way to say “thank you”. These corporate gifts help to improve the relationship on one side and serve as a useful promotional tool on the other side. Here are some recent statistics that depict the power and benefits of corporate gifting:
- More than 80% of the people surveyed like to receive promotional gifts/corporate gifts.
- As much as 88% of the customers have a more favourable opinion about a company after receiving gifts from them
- 85% of the people did business with the company from whom they received the gifts
- As much as 50% people use these corporate gifts in their daily life
Let us have a look at some more reasons why corporate gifting can help you effectively promote your business without you spending too much money:
- Increases your Brand Awareness
In the business world, developing and maintaining a strong brand is considered as the very pinnacle of success. A strong brand awareness campaign is necessary for creating a positive and favourable image of your business’s products or services in the eyes of potential customers. Companies adopt various marketing techniques and spent millions of dollars to run these brand awareness campaigns. One of the best and the most effective ways of increasing brand awareness is to harness the power of corporate gifts. The very fact that these promotional gifts are tangible, handy, useful, and tailor-made for a target market, increases their effectiveness in boosting brand awareness.
- Increases Your Sales
Once you have built a strong and meaningful connection with your potential customers through a powerful brand awareness campaign, your business will be able to benefit from it in the long run. You may gradually witness an increase in your sales volumes once you ran a successful promotional campaign.
- Leads To Stronger Customer Retention
Giving corporate gifts to your loyal customers on special occasions can have a profound effect on your business since it reflects your commitment to them. You will be surprised to know that it costs on average five times as much to attract a new customer than to retain an existing one. That is a clear indication that corporate gifting is worth investing in.
To maximise the promotional powers of your corporate gifts, you need to keep the following points in mind:
- Understand the basic idea behind corporate gifting
- Set a reasonable budget for corporate gifting
- Select your corporate gifts wisely
- Focus on promotional value of the gifts
- Provide all the details of your business on the gift items
- Always give preference to your loyal customers
- Choose your corporate gifts suppliers Singapore wisely