Businesses thrive on customer loyalty, employee productivity, and amicable relationships with business partners and vendors. However, it’s the quality of interpersonal relationships that run an enterprise.
Aside from price and quality, one of the more crucial factors for long-term success is corporate governance and commitment to core values. Buyers of today and the modern-day office goer want to be associated with a company that puts people first and values their contribution to its Corporate Gifting
A word of appreciation or a token of gratitude goes a long way in strengthening bonds, and corporate gifts have long since been a practice followed to increase productivity, nurture development and imbue emotional connection.
Understanding the benefits of corporate gifts would help you plan an effective corporate gifting strategy that helps your business grow.
Six Benefits of Corporate Gifts
Everybody loves gifts. They are sweet, surprising, and give warm fuzzies. In that sense, corporate gifts are amazing because it benefits the giver as much as it gladdens the receiver. Let’s see how.
1. Drive employee productivity and boost morale
Corporate gifts are a thoughtful way to appreciate employees for their productive work and contribution during the stressful pandemic. In addition, personalized corporate gifts would spread positivity and give the much-needed motivation to adjust to the socio-economic changes and disruptions caused by the pandemic.
Maintaining employee morale is crucial to endure adverse situations. Giving them a personalized gift would remind them that they are an invaluable part of your brand and encourage personal and professional development.
2. Express Gratitude
Corporate gifts are one of the best ways to thank your employees and clients for trusting and supporting your brand. Appreciating your employees for their consistency and efficiency with a personalized gift will make them happy and satisfied with the workplace synergy.
3. Enhances goodwill and reputation
Businesses benefit significantly from positive word-of-mouth. The more people talk about your brand, the more visibility you enjoy. Corporate gifts are one of the most effective ways to elevate your reputation and stay on top of people’s minds.
Personalized gifts indicate the care and attention you allot to people’s likes and preferences, making you a relationship-driven and sustainable business enterprise. In addition, this little effort would positively improve your reputation and encourage more investors and the public to try your services and be a part of your brand.
4. Improve customer relationships
Developing solid, long-lasting relationships with customers will nurture long-term growth and increase customer lifetime value. Handpicked and customized corporate gifts on festive occasions help build new relationships and strengthen old ones.
A thoughtful ‘remember me?’ gifts for your past clients are a great way to remind them of the relationship you have with them and subtly invite them to continue doing business with you.
5. Gain reviews and referrals
Simple and effective corporate gifts grab the receiver’s attention. Gifts that are appropriate delight the recipients and make them share their happiness with friends and family. And when they take to social media to express their joy, it creates positive word-of-mouth, paving the way for repeat business and referrals.
Customer opinions/feedback is one of the most dependable sales drivers. Research states that 72% of consumers take action after reading positive reviews. And one of the most effective ways to welcome reviews and positive feedback is through thoughtful corporate gifts, branded and personalized, to let your clients know that you always have their best interests in mind.
Also Read: Corporate Gifting Strategies to Boost Your Business
6. Save time and money
Planning an effective corporate gifting strategy would mean keeping the budget nominal and practical. Simple yet practical gifts have the best usability and a high response rate. For your employees or clients to find your gifts to their liking, it need not be expensive, it only has to be relevant. Only when clients/employees genuinely love the gifts will you enjoy better brand recall.
Planning and organizing gifting on a large scale entails additional storage, organization, and delivery costs. Besides, finding out individual tastes and preferences is no easy task. You can never be sure if all your employees/clients love your gift.