Giving business gifts to your clients, customers and employees is a key strategy to boost your companies performance and growth.
In fact, companies that use non-monetary incentives for customers and employees have recorded a 9.6% increase in annual turnover and an increase in productivity of +14%.
Here are 7 practical tips to make a great impression when gifting your next corporate gift.
Stick to a budget
Put a budget in place to plan how much you can effectively afford when gifting to your clients. Most companies don’t really have a budget in place and most of the time can’t measure the return on investment of their gifting.
Setting up a budget will enable you to track your spend and cover all year round the occasion where you might concentrate your gifting activities.
Best advice, treat your business gifting just like you would treat any other investment.
Don’t go overboard, send the right message
Gifts are meant to show your gratitude for the personal relationship you have with your clients, customer and employees. It shouldn’t be for the value of the business they do with you.
Sending a gift that’s too expensive, can imply that you’re trying to buy your client’s business. In most cases you will come off as pushy and desperate, totally the opposite effect your gift should have. In most situation, ask yourself is it too much? Try to find a compromise between value and usefulness, instead of how expensive the gift is.
Aim to show your gratitude for the personal relationship. There is a fine line between a thank you and a bribe and the wrong gift at the wrong time could cause unwanted scrutiny.
Best advice, consider what really would be appreciated by the recipient, don’t go to expensive when something simpler will do. Quick tip, check their social profiles to see their hobbies and interests to find the perfect gift for them.
Give something useful
The best gifts are the ones that are used daily, make life easier and solve a problem.
It goes without saying, make sure your gift has usefulness built in. A gift that can be used daily certain has a greater value then the one off experience of a dinner experience.
With that said, a gift that hits all three spots, daily use, makes life easier and solves a common problem will always beat a gift that has no direct use to the recipient.
A great example is Filo. Filo hits all three spots, Filo’s bluetooth tracking device makes life easier to never forget your most valued possession. It solves the problem of forgetting your keys, wallet or phone wherever you go. It’s a simple solution to be used daily.
Bonus, it’s also brandable. Put your logo on Filo and you’ll be sure that your clients won’t ever forget who gifted them the solution to keep safe their belongings.
Best advice, give a gift that can be used everyday, solves a problem and makes life easier. Can’t think of something, check out Filo.
Make it personal
To set yourself apart try to give your gift in person, with a personal note explaining why you choose the gift and why you thought they would appreciate it. It’s amazing how powerful such a simple gesture can be. People want to do business with companies they trust and that care about them. The special effort goes to show how much you care.
Best advice, don’t underestimate the power of adding that special touch by either delivering in person or writing a handwritten note explaining your intentions.
Choose wisely, be thoughtful
Most of us have recieved gifts that have been left to gather dust. Don’t let yours be one of them, choose wisely and be creative when choosing your next business gift.
Find out your clients, customers and employees preferences when you talk to them. Log them in your companies CRM or make your own notes by hand.
Quick tip: If you haven’t had a chance to take notes, discover their interests and hobbies by simply visiting their social profiles.
When it comes to gifting time, be it, the completion of a project, a special event or as a thank you, it will really help to know if they prefer traveling over sports, tech over fashion items, or chocolates to cheese.
So, as a business, if you want to build on your customer’s relationship with your company, be creative and thoughtful. Show you really care.
Best advice, be creative and thoughtful in your choices. To get a quick idea of what they might like, ask casually in your conversations or have a look online on their social profiles.
Timing, make it special
Many businesses decide at the end of the year to do their major gift giving to clients and employees. There’s nothing wrong with this approach, it just everyone including the competition is doing the same.
A better approach is to give gifts when your client least expects it. Use major occasions, (for example, deal closes, a big milestones is reached) during the year, to use as an occasion to give your gifts.
Best advice, the best gift is when it’s least expected, make sure the gift is thoughtful and timely for the occasion.
Be responsible, don’t violate any laws
Before giving your gifts, it’s better to check your clients companies’ gifting policy just to make sure you aren’t stepping on any toes.
Be aware of the the legal constraints on corporate gifting in your industry or your client’s industry. Many government and major corporation have a policy in place to avoid unethical behaviour when gifts are exchanged. Today, it’s essential that businesses have corporate-gifting policies that address both giving and receiving.
The giving of gifts may be acceptable at your own company; however, it could be perceived as commercially inappropriate for the receiving company to accept gifts. However well-intended and innocent, corporate gifting is always designed to have some sort of positive influence – otherwise, what’s the point of doing it?
But it doesn’t mean they’re bribes and it remains a simple and inexpensive way to build lasting relationships with valued clients, customers and employees.
A great business gift has all of these elements to be successful. Remember to do the following:
- Define a clear budget
- Send the right message
- Choose a useful business gift
- Make it personal
- Have great timing
- Do not violate any laws
Which do you think will have the biggest impact to your business?