Are you making the right connections and leads by gifting accurately?
Corporate gifting, as the name implies, entails giving gifts to employees, partners, clients, and prospects in a bid to create a touch point. These gifts are mainly to reward an action like completing a survey or download, act as a catalyst to drive a response such as securing a deal, etc. Corporate gifts range from edible treats, personalized items like clothing, appliances, or an experience. It could be a ticket to a trip or just an e-gift card.
A 5% increase in customer retention can boost sales by 25%-95%
Corporate gifting is an essential part of making sales and plays a crucial role in customer retention, staff engagement, and networking. By creating a positive relationship through gifting, you are most likely to establish a bond with old and prospective clients. Also rewarding your staffs for their efforts encourages an effective and efficient work ethic that drives better commitment and productivity.
How To Do Corporate Gifting Right
According to the Business Gift Satisfaction Survey, about 57% of respondents says gifts can alter their opinion about a brand or a business partner. Hence, every business needs to focus some of their attention on corporate gifting as an effective form of marketing.
Below are some important factors to consider when giving corporate gifts;
Budget: Planning a proper corporate gift is incomplete without considering your budget. Your budget should determine how much you’re willing to spend on a corporate gift. It’s important to carry out adequate research on the costs of your ideal gift selection.
Gift Types: There are so many selections of gifts you can purchase for your client. A branded mug, journal, pens, etc. The hack to nailing the perfect gift is knowing the types your client or staff will appreciate. So, if they are into tech, maybe a branded speaker would do.
The Perfect Time To Send The Gifts: A huge part of corporate gifting is creating a relationship and expressing your care is the best way to do this. So is your staff or client celebrating a birthday? Did they just win an award? Or maybe you want to invite them for an event or thank them for coming. These are all important to consider.
Packaging: Investing in beautiful packaging is a great opportunity for your brand to stand out. Branding your logo and message on corporate gifts will make you memorable.
5 Smart Corporate Gifting Strategies Every Brand Needs
Gifting As a Retention Strategy: Research shows that sending a gift to a client can help improve loyalty. A common stat amongst many business owners is that only 5% of your clients make up a third of your total revenue. And retaining these clients can improve your ROI by 40%.
Although many brands have been using other strategies such as offering a discount, featuring top customers in an article, it isn’t as effective. It’s essential to show your appreciation to your top performing clients by giving them a memorable gift.
Book Meetings With Prospects: Physical meetings have been on a decline thanks to different digital channels like email or LinkedIn. However, with multiple brands going this specific route, it can be difficult to remain memorable in your line of business. This is especially so because so many brands are probably speaking to the same prospects you are interested in. Hence, the importance of physical meetings.
94% of important executives in multiple niches agree that gifts offer a deeper connection between brands. A branded journal or gifts related to their interests are always a great idea.
Sell The Value of Your Services With Gifts: Different forms of marketing have been successful when the story is tied to a prop. Whether it’s a tv commercial or a billboard sign, having an object that your audience can connect it with makes it memorable. You can use gifts to sell your message and value effectively.
This method is effective for both offline and online communication with prospects. For instance, sending a gift card following an email is spontaneous and creates a human-like expression for the recipient. Also, it will help your brand stand out amongst others. It’s very important to keep your online design close to the offline to help your prospects associate both with each other.
Incorporate Automation in Corporate Gifting: Automation in any system improves efficiency and productivity. You can spend more time planning other productive strategies instead of gifting manually. Try using an automated system for storing, packaging, and shipping gifts to optimize time.
Corporate gifting is a crucial part of marketing that is essential for improving customer engagement and retention as well as employee productivity. Hacking the art of corporate gifting can improve your ROI by more than 50%. Hence, every brand should jump on this train immediately. Follow the strategies above and make the most of co