Corporate gifting remains one of the best methods to promote your business and show gratitude to valuable clients and partners. As a customer, receiving a freebie makes you more inclined to buy more. In the same way, as a business partner, receiving a corporate gift builds trust between you and a company.
The secret to corporate gifting is having a well-thought-out strategy. Learn more about what makes corporate gifting so effective and how you can improve your gifting strategy.
Plan Out Your Gifting Strategy Wisely
Ultimately, corporate gifting is a practice of strategy. One wrong move and you might diminish the purpose of corporate gifting as a whole. To create a win-win solution for all, the first step is to plan out your ultimate end goals.
If your end goal is to increase brand recognition and sales, you should ensure that the projected financial gain is more than your company’s allocated budget for sourcing and production. In addition, the gift should portray your company in a positive light, so any company slogans or logo printed should be taken into careful consideration.
Take Note Of Your Target Audience
You should also pay close attention to gifts given to parties like stakeholders of the company, partners, and suppliers. The actions of these parties could determine the future of the company and would have a significant impact on the company’s bottom line. Hence, the gifts should reflect your best intentions and be done in good taste to prevent you from potentially souring your business relations. A good tip is to consider their day-to-day and pick out something that they can utilise daily.
Misconceptions About Corporate Gifting
Corporate gifting is frowned upon by some, as many might find it unnecessary. “What good would gifting do to my sales? I might as well use the funds somewhere else!” is a common opposing argument. This misconception is where you make the mistake of underestimating the power of corporate gifts.
Even though corporate gifting is not necessary for your business model, it can be considered a necessity to build your brand. If your well-planned gifting strategy is carried out flawlessly, you may find that the returns far surpass your efforts. Such returns could come from increased sales and strengthened business relationships within the company and with external partners. With these on hand, it would make it easier for you to further your business plans.
Ideally, work with a notebook printing supplier to come up with a design that meets both objectives: expressing your appreciation and keeping your brand top-of-mind.
Conclusion
For corporate gifting to be effective, your gifts should achieve both customer satisfaction and brand recognition. The strategy itself could be deceptively simple; however, with proper consideration and planning, can produce your desired results and more.
If you are in the process of planning your corporate gifting strategy, we are here to help! At Nanyang Gifts, we house an array of gifts such as office supplies, cutleries, wearable tech and even offer customisable services such as wholesale tote bag printing in Singapore, so feel free to contact us for a quote today!