Corporate Gift Importance (4 Short & 6 Long-term Benefits)
Corporate gifting is part and parcel of running and maintaining a good business. A cost item always requires consideration, but why is it important not to skimp on this expense?
Not that the answer isn’t obvious, but it’s more a reminder as to why corporate gifts giving practice is important to the business.
The benefits are short and long-term. Let’s dive into each one.
Why Corporate Gifting Is Important – The Short Term Benefits
If one would equate corporate gifting to part of a wider business strategy, then there is the short term as well as the long-term reasons as to what makes best corporate gift practices an essential component in the successful business playbook.
Although one should always place more weight on long-term gains, the short-term benefits cannot be ignored.
1. Making A Good First Impression
If you have a new business or your business has just established a working relationship with a new client, corporate gifting is perfect for making a good first impression on your client. It’s almost too good an opportunity to pass up!
A good first impression usually has marginally better mileage, so to speak, than subsequent ones. It’ll be the first time your clients receive a gift from you or your company so the first impression sticks.
With that first gifting out of the way, it is important to continue the corporate gifts giving practice consistently to maintain the relationship.
Beginning a corporate relationship on a good note also sets a positive tone for future communications and co-operations.
2. Retain & Impress Existing Clients
Companies with existing corporate partners can look forward to corporate gifting as a way of keeping the relationships going. Maintaining healthy existing relationships is often as important as, if not more than, trying to get new ones.
To keep the professional relationships strong, you can come up with unique corporate gift ideas for clients in order to wow and impress them. This can help increase the chances of retaining your clients that are so crucial to the livelihood of your business.
It is not about trying to top your previous gifts to your clients in terms of gift value, but instead to continually show them that you still care to put in the attention in coming up with thoughtful gifts for clients.
This is especially true for some of your more important clients. Corporate gift ideas for VIP clients can be difficult to come by as you try your hardest to leave a lasting impression, but it’ll be well worth the effort.
Look up this article if you’re exploring the best client gift ideas for the upcoming gifting occasion. They are unique corporate gifts that will help you stand out from the sea of more ordinary corporate gifts!
3. An Expression of Appreciation
There may be more than one reason that makes corporate gifting worth paying attention to, but none is more important and basic than to show your utmost appreciation for your clients’ relationship and, truthfully, the business they bring you!
Using the various festivities as a platform for corporate gifting is a constant reminder to those precious business partners (source) that you value their business, relationship, and show of good faith throughout the working relationship.
Whether it’s a useful gadget or edible gifts for clients, higher-priced items or more affordable corporate gifts, careful thought on choosing one that suits the occasion can go a long way in showing gratitude.
4. Not To Be The Odd One Out
It’s common to think along the line of how corporate gifting can benefit you and your company. However, it’s actually equally important to consider “what if” you did not give gifts this time around?
When almost all companies consider the practice of giving and receiving corporate gifts as the norm, not giving one could make you stick out like a sore thumb!
This is the reality of the corporate world, and in this case, it doesn’t hurt to just maintain the tradition. Unfortunately, not giving one could be just as bad as, if not worse than, giving an average gift – however you wish to define “average”.
Why Corporate Gifting Is Important – The Long Term Benefits
A consistent and thoughtful act in corporate gifting can bring many benefits. Some are more profound than others and they can have far-reaching effects on the health of your business.
5. Nourishing A Healthy Partnership
In the sense of maintaining a healthy relationship, the corporate world does not work any differently than in the personal realm. As with any relationships, to keep them going strong takes time and effort.
Additionally, all professional relationships are in essence partnerships.
The corporate gift-giving seasons represent the perfect opportunity of staying in touch. They are means of maintaining constant contact, especially given that corporate gifting is non-work related.
The significance of being able to connect with your corporate partners outside of work-related matters should not be underestimated.
Furthermore, sending unique corporate gifts can make your clients feel close to you even if you’re geographically far from where they are.
6. Establishing Trust and Mutual Respect
Sending the best corporate gifts you could thoughtfully put together tells your clients and corporate partners that you value them and appreciate their support in keeping your business going.
The act of giving corporate gifts, when coupled with excellence in professional work performance, stand to establish a strong foundation of trust between partners in the working relationships.
Trust and mutual respect are two interdependent components of a robust, long-lasting working relationship that can only bring benefits to all parties involved.
7. Stand Out From The Crowd
It’s undeniable that the corporate landscape is as competitive as it’s ever been!
In everything that you do, it no longer matters when you decide to do something. It is about what you can do or should do, to stand out from the sea of competitors out there vying for that same piece of the pie.
Viewing from that perspective, corporate gifting becomes one piece of the strategy puzzle you would do well not to ignore.
Regardless of the corporate gift ideas you have in mind, putting in some thoughts in the gift packaging as well as the relevance of the gift to the occasion go a long way in helping you stand out in the eyes of the recipients.
If you know of any significant personal events for your clients such as a wedding or moving into a new home, there are various unique wedding gift ideas or housewarming gifts for clients you could explore. This helps add a little personal touch to the gifting occasion.
8. Build, Maintain & Reinforce Brand Awareness
As far as leaving a lasting impression goes, nothing creates more impact than a custom gift that’s been personalized to the particular occasion and the giver’s branding.
The brand is an invaluable asset that inevitably impacts the bottom line. As such, the corporate gifts giving season is another one of those opportunities, or perhaps even an ‘excuse’, to spread that brand awareness.
This is especially true in the case of preparing gifts for corporate events. Such events usually involve giving gifts to people that may be less familiar with your brand than your corporate clients who deal with you on a daily basis.
That said, customized and personalized corporate gifts do not have to come at a high price. In fact, with the right gift vendor, each gift unit can bear the brand’s logo with customized sayings and designs that perfectly suit the occasion.
9. Increase Sales & Revenue
As the saying goes, “All roads lead to Rome”! Businesses exist primarily and ultimately to make a profit.
No matter which particular benefit one focuses on when corporate gifting, increasing sales and revenue would probably be at the very top.
As such, maintaining a healthy working relationship with your corporate clients and other corporate partners not only makes the everyday dealings smoother but hopefully sees a positive contribution to the business’s profits at the end of the day.
10. Attract New Clients
Depending on the industry you’re in and the nature of the contractual relationship with your corporate partners, consistent practice in corporate gifting, especially customized and personalized corporate gifts, can help attract new clients.
Carefully and thoughtfully branded corporate gifts can make a business stand out from the crowd and catch the attention of the right people at the right time.
Attracting new clients while maintaining existing ones in good stead would invariably contribute to a stable and flourishing business.
The Caveat To Note In Corporate Gifting
The above potential benefits would remain just that, a potential (as opposed to reality) if you and your company do not get this one thing right. And, that is doing the work and doing it well!
Regardless of the nature of your contractual relationship with your clients, you’d agree that performing well in the professional obligations your company’s been engaged for is what ultimately matters more to your clients that any gifts.
Corporate gifting probably happens a few times a year if you consider the number of festivities on the calendar. On the other hand, performing the contractual tasks and addressing clients’ concerns are an on-going, all-year-round endeavor.
Mistakes To Avoid
Although this may be a minor issue, it is worth reminding ourselves some of the mistakes to avoid so that the best corporate gifts you’ve so thoughtfully prepared do not end up costing you instead.
Including promotional inserts
As much as corporate gifting is a form of marketing that’s beneficial for the business, going overboard can adversely affect the reputation of the company. Acts such as including promotional leaflets and other forms of advertising would be an overkill and make the company look desperate.
Therefore, maintaining a more subtle approach would be best. After all, corporate gifts are for celebrating the occasion.
Getting the delivery arrival dates wrong
Timing the delivery of your corporate gifts can make or break the intended effect of gifting. Although it is generally good practice to time it such that the gifts reach your intended recipients a week before the festive break or event date, any later could be cutting it too close!
Factor in potential delivery delay and the fact that some people may go on leave a couple of days before the start of the holiday period, and you should do fine time-wise.
Repeating The Exact Same Gift Every Year
Who doesn’t like something fresh?! Well, it depends.
It’s a good idea to switch ideas once in a while if you think it’s something the recipients would like more. Certainly, check out this article for creative alternatives to corporate gifts to get some inspiration!
However, if you’ve gotten feedback from your clients that they really liked the gifts you sent them then it’s best to stick with what works. As the saying goes, “If it isn’t broken, don’t fix it!”
If you happen to be giving drinks or edible corporate gifts, switching between recommended flavors could work wonders in keeping things fresh.
Going Against Client’s Gifting Policy
If you know of any specific prohibition in your clients’ gift policy, then steer clear of it. Do ensure though that such important notes are communicated clearly to the personnel in charge of putting together the gifts.
Although the importance of corporate gifts is undeniable, there are little mistakes like the above that you should avoid making. On top of those, we’ve incorporated a link to another article here detailing the importance of ethical corporate gifting which is something helpful that you should be aware of.
While you’re busy coming up with your next unique gift ideas for corporate clients, don’t forget the occasions to reward your internal staff with some thoughtful employee appreciation gifts for their efforts as well!
