With a busy years-end it is to easy to forget the importance of your BUSINESS GIFTING in
2015! This oversight could affect your success in 2016 & Beyond!
Think about the recipients! Your recipients should include:
a) Loyal Clients
b) Previous Clients
c) Potential Clients
d) Suppliers of Essential Services
e) Employees & Independent Contractors with whom you work
It is the thought that can count BIG! Not all gifts need to - or should - be of the same cost. It is important that you have a plan, a budget and get started early! Last minute efforts often get lost in the Holiday Mayhem! Your and the Competitors will be Remembered!
Who: Respondents noted that decisions about business gifts were made company-wide, with senior-level management choosing 53 percent of the time, followed by sales and marketing professionals (38 percent).
What: 35 percent, most organizations shelled out between $25 and $49.99 on gifts. Another 34.8 percent spent $10-24.99 per gift. It’s important to plan for this expense in your integrated marketing budget.
When: You guessed it: Most businesses dole out gifts during the holiday season.
Why: The most common response to the question of why business gifts were given was “to thank customers,” at 70 percent, followed by “to build goodwill” and “to develop business.” Some professionals considered business gift-giving as a habit; 12.2 percent of those surveyed said they give gifts “because customers expect them.” Surprising, some noted that “damage control” was another variable. (marketingtango – Oct 1, 2015)
The Importance of Gifting - "Corporate gift giving is serious business. As part of a well-considered program, it can help establish or enhance critical relationships and become a cost-effective means of recognizing activities that benefit the business..."
"Most business gifts are given to major clients. After that comes employees, then prospective clients. Reasons for gift giving range from thanking long-standing customers for their business to recognizing a valued employee for working on a weekend. The basic reason is the same: to affirm relationships and enhance the personal connection between giver and recipient." (ESM – Engagement Strategies Media)
Who should be on the receiving side? "If you’re wondering when to give business gifts and who to give them to, a general rule of thumb is to send gifts to the people who help make your company great.
In general, this includes clients, employees, and certain service providers. Read on for some tips about when to give business gifts and who you should send them” SmallBusinessTrends - Sep 30, 2014 by Annie Pilon
Some of the top reasons for your company to give promotional gifts include: (Drew & Rogers)
1) Advertise your business
All organizations depend on advertising in order to thrive. Distributing promotional corporate gifts is essential to this growing process. When a client receives a gift with your company’s name and contact information on it, they will remember your business every time they use it. Branded gifts like t-shirts and hats are both appreciated by your client, and act at the same time awareness for your organization.
2) Improve Company Morale
Letting your employees know that you value their hard work is a traditional benefit of corporate gift giving. These gifts are also ideal for showing appreciation and strengthening relationships with key customers during the holiday season. Generally, the most appreciated holiday gifts are those that are not perceived as promotional products. Incorporating your company’s name or logo tastefully into the gift is usually the best way to go.
3) Reward Your Customers
Building strong relationships with your customers is a huge advantage of corporate gift giving. Your most valuable clients deserve to be thanked for the business they bring to your company. Personalized corporate gifts are most appropriate to give you top customers, as they best represent your close business relationship.
Hopefully you’ve had a great year - This Holiday Season, be sure to keep the above points in mind when you are thinking about giving Holiday gifts! HAPPY HOLIDAYS!!
