In this electronic age where we converse via emails, texts, and social networking sites. It is important to comprehend why we exchange gifts. Conventionally if you got an invite to be present at a fete you were expected to carry a gift.
As gifting plays such a vital part in our social construct, we give gifts for several, sometimes differing, reasons. At times our values require it, for instance birthday or Christmas presents. At other times, it builds and strengthens relations with family members, friends and associates, and can be done for a range of reasons.
Time and again we give gifts to re- boost or begin our association with others. Giving a gift to somebody we really care about lets us express our feelings and gratitude for them. Corporate gifting is an act of giving a token to patrons, staff, or any other associate within the business space. Receivers see it as an expression of appreciation and importance.
In principle, with limitless gifting options - cards, swag products, and premium offerings, to name a few - the real purpose of corporate gifting is to make a permanent impression and create a long-term connection with the receiver.
Why is corporate gifting important?
People may fail to recall what someone said or how others behaved. But they by no means forget how somebody made them feel.
And this very psychological fabric is what pedals the concept of corporate gifting. With this distinctive sense of acknowledgement and being valued, gifts exceed the border of mere being gifts, only to realize the value of trophy and uncommonness of accomplishments in the recipient's eyes.
Subsequently, it acts as an incentive to all the constituents that form the organizational structure; to staff and associates, it inspires them to think a little more outside the box; to patrons, it gives a strong emotive rope to stay long with you.
How Corporate Gifting Can Help Businesses
1. Builds stronger relationships
People choose to buy from a business they know, love, and have faith in, making it vital that your clients become aware of your marque first.
Perfectly-timed gifts can synergize this significant "Know, Like, and Trust" tie. By rewarding probable customers for attending your merchandise launch or sending out a digital offering for viewing your product video for the first time, by this you can create the first thread of communication with them.
This first constructive impression sets the right tone at the start of communication itself, ensuring its further continuation in the forthcoming. More than just a tactical move, corporate gift-giving, thus, is an emotionally intelligent gesture.
2. Strengthens company culture
We have moved past the days where only financial glitz amazed the eyes of employees. Now, company culture has moved considerably up in their standards while electing a workplace.
Appreciating workforces with appropriate, apt, and desired gifts gives you a long rope to attain that perfect culture, as gifting has the same encouraging impact on employees as it has on customers. It affects their functioning and, eventually, your client’s satisfaction with the end product.
Nevertheless, there are “side” profits of investing in culture. Gift-giving synchronizes the relationship between personnel and establishments and makes them feel valued.
3. Invigorates employees with motivation
Every business is as good as its employees—and no business stands beyond this purview. Encouraging them, thus, is of utmost importance in realizing overall operational efficiency and nailing the customer service.
Though, there is a limit to how much inspiration a company can prompt in employees in a given day through customary ways. Here strategic corporate gifting comes in handy, as it impressively placates that one desire which every worker secretly yearns for: recognition.
4. Reinforces the brand
The most frequently made mistake in the commercial world is communicating sparsely and sporadically with your customers—only while attempting to sell something or revealing vital achievements.
Such junctures are rare, making you soar less on the horizon of your clients. It depreciates the client engagement quotient, as it is not augmenting any value to customers’ experience.
This is where business gifting at the right time in the sales cycle becomes crucial since gifts assist as a perpetual reminder of your brand.
5. Helps advertise in a cost-efficient way
Anybody who has even half an eye for media expenditure will know that customary advertisement forms like TV, radio, billboards levy humongous costs.
Furthermore, they deprive you of customisation, as they are intended for amorphous masses. By giving out personalized gifts that people use often and items that can be made noticeable all over the office, business gifting guarantees minimal cost per impression.
6. Incentivizes mission
The storm of digitization has enforced the customer journey to go through the most severe paradigm shift. Whether it's a small social media column or a long and thorough eBook - you never know what will turn out to be the first point of contact between you and your probable clients.
Incentivizing clienteles at every stage of their journey is not just a tactical masterstroke but is the required thrust for your customer procurement ambitions. And the world is yet to see a superior tool than jubilant gifts/pay-outs to push the clients towards a final buying decision.
Things to Consider for Corporate Gifting
It’s as evident as daylight that corporate gifting can act as a multi- branched tool in uplifting your bottom line as well as forming durable relations with all the stakeholders.
The following well thought corporate gifting strategy includes some crucial points.
- Understand the religious, regional, and social aspects of gifting
- Tax implications
- Clients’ limitations
- Set your business gifting goals
- Nail the perfect gift moments
- Zero-in on your budget
- Give right legs to your budget