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Business Guide to Corporate Gifts

Corporate gifts can be used to show clients how much you appreciate their business and employees how much you appreciate their hard work. Gifting is an opportunity to develop relationships by going a step further than the ordinary buy-sell transactions or work-for-hire mentality. Appreciation and recognition can go a long way towards solidifying your company's image in the minds of important constituencies. The price of the gift is often not as important as the creative expression behind the gift selection. You may be able to achieve better results by selecting corporate gifts that are useful and unique, rather than selecting the most expensive options.

Benefits

According to the Wall Street Journal, 44 percent of business owners polled by American Express in 2010 planned to give gifts to their clients during the holidays. A similar poll was taken in 2009, and the results showed that 47 percent of small-business owners planned to give their clients gifts that year. Giving corporate gifts is a great way to show clients that you appreciate their business, and employees enjoy receiving corporate gifts as well. Showing generosity to your workers and customers can be very beneficial.

Maintain business relationships

When you give corporate gifts to clients, you greatly enhance your relationship with them. Gift giving also enhances the image of your company in the receiver’s mind. When clients have a positive image of you and your business practices, they are likely to maintain a good relationship with you, and they are likely to refer your services to others.

Thanking customers for their business

Your customers are used to spending money at your place of business. Therefore, it would be a very nice surprise for your customers if they received a gift from you. Many business owners give promotional items to their customers, but you can demonstrate your appreciation in a different way by giving your customers corporate gifts that are personalized and meaningful. Business owners typically give these types of gifts to those who have patronized their establishments for many years. If you choose to do this, your customers are likely to remain loyal to your business for many more years.

Employee recognition

By giving gifts to your employees, you show them that you appreciate their hard work. The dedication that employees demonstrate and the effort they put forth make it possible for you to run a successful operation. When you give your employees gifts, you are essentially thanking them and letting them know that you appreciate their efforts.

Boosting employee morale

Employees who receive gifts from you are likely to continue putting forth a good effort. Gifts can also encourage your employees to enhance their performance. When workers feel appreciated, they are likely to be more productive during their work hours. They’ll spend less time idling and more time working in support of your company’s goals.

Pitfalls

Inexpensive gifts make you look cheap

If you decide to send corporate gifts to potential or current clients, customers, or business partners, make sure that you can afford to send quality gifts. You don’t have to go over the top, but sending inexpensive gifts is not good for your image. Instead of promoting your brand in a positive way, you could inadvertently make your business seem cheap or stingy. Your gifts could have an effect opposite to what you intended.

Uncreative gifts aren’t memorable

Don’t bother with uncreative gifts that are mass produced and sent out to every customer. These aren’t memorable, and you’ll probably just end up spending a lot of money on a promotional effort that won’t produce results. For example, small magnetic calendars might seem useful, but most of them will end up in the trash. A gift like this doesn’t set you apart from other companies.

Branding can seem self-serving

If you plaster your logo or company motto on every corporate gift, you could be hurting your image. Branding efforts should be done tastefully. You can use corporate gifts as a way to promote your business and increase the visibility of your logo, but don’t overdo it. A gift that’s clearly intended as a promotional item seems less sincere. If your customers think you’re just trying to advertise, it defeats the purpose of sending a gift in the first place.

Excessive gifting isn’t beneficial

Sending corporate gifts on holidays or other special occasions can be beneficial, but try not to give too many gifts. If you are constantly giving gifts to the same client, you probably come across as overeager. Occasional gifts are appreciated, but too much can become annoying, and it’s probably not helping you anyway. Excessive gifting costs money and is unlikely to be any more beneficial to your business than occasional gifting.

­Pricing

Corporate gifts and promotional items are available from a variety of different retailers. Each supplies various kinds of gifts and items that your company could use, such as pens, koozies, bags, flash drives, and more. The cost of these gifts varies from retailer to retailer. Buying in bulk, however, is a sure way to lower the price of your gifts, as long as they possess quality construction and do not fall apart.

Handing out corporate gifts to employees and consumers is a great way to get new and repeat business. A study conducted by the ASI Power Summit has shown that people who receive gifts of some kind from a company are much more likely to remember the business’ name. Sixty-two percent of the individuals who received gifts returned to the company to conduct business.

Conclusion

Corporate gifts can improve your relationships with clients, prospects, business partners, and employees. They are an opportunity to express your appreciation for patronage and hard work. Care must be taken to select the right types of corporate gifts, however. It is more important for your gifts to be unique and tasteful than it is for them to serve as a means to advertise your business through promotional branding. The costs involved can also be a potential pitfall in your gifting strategy. Pricey corporate gifts can fall outside of your budget and offer only marginal returns. Cheap gifts can damage your company's image. You can find the right corporate gifts for your budget by selecting items that are uniquely useful to the recipients, even if it is in a small way.