Corporate gifting is often associated with large companies or corporations who have an abundance of disposable capital to participate in corporate gifting. Unfortunately, due to this connotation, some small business owners believe that they need not participate in corporate gifting because of their size and profits. But corporate gifting for small businesses is not only necessary but also beneficial.
- Corporate gifting can reinforce or promote your brand – if done properly, the recipient will feel valued, considered and appreciated upon receiving your gift. The recipient will associate this feeling with your company, especially when there is a strategic logo placed on the gift to remind them who it was from. These logos can be placed on the gifts when purchasing from corporate gift wholesalers in Singapore that specialise in the mass production and distribution of corporate gifts. Imagine a scenario where a potential investor is in a meeting with the recipient of the gift and asks where he or she got it? The recipient will proudly announce the gift was from you which will reinforce and promote your brand.
- Corporate gifting sets you apart from the competition – the purpose of giving the gift should be to show appreciation or to reward and not to gain favouritism. However, it doesn’t hurt that these gifts may give you the upper-hand when certain decisions have to be made.
- Corporate gifting creates, maintains and strengthens the business relationship – It has been proven time after time that clients who receive corporate gifts are much more likely to be loyal and dedicated to you and your business. This will most likely garner continued support from your dedicated customers and encourage others to support your business. Corporate gifting can also maintain relationships with clients who you are unable to have frequent face-to-face interactions with.
For small businesses, it is sometimes not feasible to gift every client on every holiday, birthday, anniversary or other major events. It is therefore advised to gift new clients at the start of your business relationship, gift old clients at milestones and others at the start of every New Year.
It is also important to note that corporate gifting is not limited to gifting other corporations or investors, but it also includes customers and employees. It is important to gift these persons because:
- It shows that you are appreciative of their consumption and service.
- It makes them feel like a part of the ‘family’
- It encourages positive attitudes towards the business and builds reputation
- It can boost production, sales, and investments
To answer the question “is corporate gifting really necessary for small businesses?” the answer is yes. This is because corporate gifting can be highly beneficial as it can promote your business. It also sets you apart from the competition and build, maintain and strengthen business relationships. As it relates to gifting employees and customers, corporate gifting not only shows appreciation but in the end it may lead to improved economic performances by fostering positive attitudes towards your business. To magnify the feeling of personal appreciation, you should consider buying customised corporate gifts for each employee to receive a unique gift.