When you brainstorm with a team, many ideas emerge from each team member. Then when one of the employees talks about corporate gifting is crucial as a possibility for business growth, you think it is something that doesn't make sense because many people think that gifts cannot be one of the reasons for business growth.
Can corporate gifts grow your business? Meanwhile, you know that buying gifts is not cheap. Isn't that an unnecessary expense because there is still a lot that needs to be managed in the company's finances?
This is why you underestimate corporate gifts. Giving gifts is the right way to grow your business. Gift recipients will be excited when they get something special. This applies to employees, clients, prospects, or whoever your target is to get a corporation gift.
Many companies have benefited from gifting strategies for years. This experience will enhance the drive growth and business's reputation in the long term. Let's learn why corporation gifts are crucial in business.
Is corporate gifting a good business idea?
Yes, corporate gifting is a good business idea because it promises long-term profits if done correctly. Giving gifts can’t be arbitary because it requires talent for sourcing and designing unique things, even it’s for to prospects, employees, or clients. The gift you give needs a high-quality product and memorable for the recipient. The benefits of corporation gifts are not felt immediately in the near future, but can be considered as a long-term investment.
One of the main reasons why a corporation gift is a good business idea is because it can provide brand recognition. For new brands that still don't have much trust, they can give gifts to clients and prospects to introduce the product and show the advantages of your product compared to other products. Enhancing your business brand will grow loyalty, respect, and recognition.
Who is the target audience for corporate gifting?
The target audience for corporate gifting is customers, consumers, partners, influencers, associates, and employees. The main priority of gift giving is shortlisting who will be given it. Once you have clarity on each profile, you can start adjusting your budget and what gifts you will choose according to your role and importance.
Consumers
Consumers are the actual users of your services or products. Consymer has a high life time value, so many brands want to invest with high budgets to influence and get new users. The importance of giving gifts to consumers is to keep adding new consumers on an ongoing basis. What business owners often do is provide new products to consumers or offer something they cannot refuse.
Customers
Customers are people who buy products on behalf of consumers. Your point of contact is customers, because you may not interact with consumers. He in turn influences users to consider your offer. A particular brand may form ties with other non-competing brands for mutual benefit. For example, a branded smartphone buying another branded phone accessory is a customer, but not an end user or consumer.
Partners
Partners are associates who help you increase sales and market share to achieve end goals. Partners are distributors, retailers, and stockists.
Influencers
Influencers help your product to influence the various decision makers. A single product can have many influencers. For example, if you are the owner of a cement manufacturing company, your influencers are masons, engineers, architects, and project managers.
Associates
Business associates can become your consultants, friends, referral partners, and well wishes.
Employees
An employee is someone who complete tasks, carries out their duties, and achieve company goals. Employees are entitled to receive gifts based on their completion of service and achievements.
How corporate gift giving can be ethical?
Corporate gifts serve various purposes like recognizing employee's milestones, celebrating successes, showing appreciation, or building stronger relationships. However, you need to know the ethics of corporate gifting to avoid any unethical behavior. The first rule about gifting is to ensure the gift is modest and appropriate to the business relationship. Overly or lavish personal gifts can create an uncomfortable situation or considered as a bribe for the recipients.
Learn about the ethics of corporate gifts according to company rules, and don't give them at certain times, such as when you are collaborating with a new client, to prevent the possibility of being considered a bribe.
Best reasons why corporate gifting is crucial for business
Now that we know corporate gifting is crucial for business growth, now we need to know what we can get after we can routinely give corporate gifts to various types of recipients. There are various ways that corporate gifting can help your business growth.
- Enhancing brand reputation
Corporate gifting is a way to build a solid brand reputation. Every business needs advertising, recognition, and gaining trust to prospects or consumers to keep them using our services or products. Giving gifts to consumers and customers generates good feelings. They will give your brand an image of being kind and caring.
Gift giving will provide a positive reputation and attract more sales from consumer referrals. Referrals are one of the surefire steps to increase sales without having to increase your marketing budget.
Try to start corporate gifting as a way to increase your reputation, because you will get results in your consumers referring your business to new customers or consumers. The results will be better when many people trust your business because of your quality and service as an effect of the good brand reputation that you have built.
- Promoting your business
An easy way to promote your business is gift giving. Gift boxes with your company logo are a way to publicize your company softly. Whatever corporate gifts you choose, provide a special space for presenting company gifts to introduce your brand to a wide audience.
Corporate gifting keeps your business known to clients and their peers, and also turns prospects into your loyal customers. Look for a place to get custom corporate gifts that can display the company logo on any item you choose.
BestGiftHK is the best place for you to promote your business by giving custom corporate gifts to recipients. BestGiftHK has been making high-quality corporate gifts for more than a decade using various printing methods, adapting to your gift needs. Think about your best concept for giving gifts to customers or employees, and BestGift HK will help you to give the best gift you'll ever give.
- Boosting relationships
Many companies do gift-giving as part of their relationship marketing strategy. Most gifts will not be expected by the recipient. They will be happy with whatever you give them, and it tells them that you value your relationship with them. Giving any gift is a step to show your gratitude to both your employees and customers.
Maximize your gifting experience by customizing the gift. Receiving a personalized gift shows that you understand what the recipient wants, and what they need. Don't forget to add thank you notes or best wishes for good cooperation with them.
Many recipients appreciate the gift they receive. This action will grow trust and reciprocity or increase their business dealings with you. A simple gift-giving can lead to more sales and foster the working relationship.
- Increasing productivity
Taking care of your employees is the most important thing in business. Apart from providing them with facilities according to their work needs, giving gifts is one way to recognize employees' hard work. Employees feel appreciated when you give personalized gifts for whatever they have achieved and done. Public recognition plus gifts or rewards will send a message to the work environment that every job will be noticed and rewarded.
Every employee who feels calm because they are comfortable with office conditions, being highly valued, and connected will increase their productivity and performance. It's a strong sense of belonging and workplace bond. Employees who receive gifts will work better at serving customers. All actions that employees take will add a good reputation to your brand.
Top 12 Corporate Luxury Gifts for VIPs - Best Gift Hong Kong
Corporate gifts must be planned carefully and purposefully. Apart from thinking about quality products, you have to understand the rules of thumb regarding gift giving, and who you will give it to. Choose the right occasion to avoid any trouble and maximize your meaning when giving gifts. There are many benefits that you can get after you give a corporate gift, and immediately plan to grow your business with new corporate gifting methods.
