Corporate gift giving is important in today’s competitive business environment. It can have a significant effect on customer loyalty, growth, and referrals. The practice of giving business gifts has become an important part of most companies and is embedded in the varied cultures of different businesses. When carried out effectively, the act of giving company gifts can reveal opportunities for the business in the form of strengthening bonds between your business, clients, suppliers, employees, and other stakeholders.
This creates a feeling of reciprocity and goodwill, leading to new, stronger relationships that promote the value of your business. With that in mind, it is important that your company sends the right gift to the right recipient.
The power of personal touch
As the saying goes, people carry out business with those they trust, know, and like. The maintenance of a relationship is extremely important to sustain the relationship for future collaborations. Extending a ‘thank you for working with us” gift is an excellent way of building the three. Your customers, employees, colleagues, and other company stakeholders will love a simple gift customized with your brand identity. This is a great way of establishing a lasting positive relationship between you and your business stakeholders.
Stay top of mind
Never ignore the fact that your business is just one of the many that customers can turn to whenever they are in need. This is the primary reason why you should find a way to stay at the top of their minds. Otherwise, you will end up falling prey to the dreaded ‘out of sight, out of mind’ syndrome. Sending a corporate gift to your business stakeholders is a subtle way of reminding them of your brand and the perfect chance to interact with them outside office settings.
Strengthen your brand
You should think of business gift giving as another approach to marketing your brand. Be it a simple gift or a luxurious, expensive gift, the gesture says a lot about your brand. You can reinforce your brand in the eyes of your business. This will be very helpful when your client recommends your business or service to others as well.
It is a way of appreciating your employees
Corporate gifts are not only meant for your prospective and loyal customers. You can send or present a gift to your employees to show them how much you appreciate their efforts. Just the way a great gift to your customers will paint a positive image of your business, gifting your employees can shape a supportive organizational culture that is important to the success of your company.
From the above discussion, it is evident that corporate gifting is not a waste of resources. When done correctly, it can mean the difference between attracting and retaining more loyal customers and losing them.