Corporate gifts are all about
building a long-term, fruitful relationship with stakeholders including
employees, clients, political bodies, leaders, villagers, NGOs, regulatory
bodies, and inspectors. Corporate gifts can be a physical item or
an e-gift card.
When selecting corporate gifts, you need to ensure that
they are relevant and practical to recipients’ business or personal life. Don’t
forget to consider gift policies and potential laws regarding gifts for your
recipients before deciding on the item and budget for corporate gifts. Some
regulatory bodies, including government employees, may follow specific laws (or
limited by bribery law) regarding the type and monetary value of gifts
received. Therefore, care should be taken to verify all relevant policies or
laws before deciding for any corporate gifts.
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Why corporate gifts are important for any business?
Receipt of gift always delighted the person and thus it helps to creates
a sense of connection, a positive association between giver and recipient. Therefore,
corporate gifting is considered as powerful way of building a long-term
fruitful relationship with potential and existing stakeholders. It helps to show
appreciation for your sustainable business.
Here are some of the reasons why
corporate gifts are important for any business.
Corporate gift for motivation
Corporate gifts can be considered to motivate employees and
strengthen their engagement. When you give something to your employees as a token
of appreciation, it will have a positive psychological impact on the recipient.
It will build a positive belonging to the business and they will become more
proactive in their work.
They will try to do something more that has a
positive impact on the growth of the business, they will proactively
participate in all improvement activities and take positive action. This will
help create a sense of belonging to business growth, which will make a person
appreciate it more and thereby influence feelings of reciprocity and trust.
Always try to gift good quality,
well-personalized items that help create a sense of being valued by employer and
foster a sense of belonging. These feelings translate into positive employee
actions that ultimately help improve the quality of the services they provide
to external stakeholders, customers and prospects. It can also help to improve employee’s
work efficiency.
Corporate gift allows to create new customers
If you want to add new customers to your
business, corporate gifts can help motivate those who are not yet your
customers to become customers. The effectiveness of corporate gifts in
attracting new customers depends on two factors - giving the right gift at the
right time.
To build a strong relationship with existing clients
Corporate gifts can help build and maintain a
strong and fruitful long-term relationship with existing clients. It can be
used to show that they are very important to your business, that they are
appreciated and encourages them to continue your service or to become brand
evangelists. Corporate gifts to customers can create a long-term emotional
connection with a brand.
Corporate gifts to show stakeholders are valued
Maintaining good relationships with stakeholders
including regulators and NGOs is very important to a sustainable business. If client
feel undervalued they are likely to look elsewhere for business that like them,
similarly if the regulator feels they are not valued, they may issue Show Couse
notices against minor non-complinces, even if they renew licenses which may
pose more problems.
Therefore, a timely corporate gift shows the
individual that they are valued for your business as a whole.
To keep your competitors away
Of course, the quality of products and
services is important in retaining and adding new customers to your business,
but even so, giving timely quality corporate gifts is one of the ways to stands
apart from the competitors. It helps to show that your business really cares
about your customers and is willing to go above and beyond the competitors to
make customers happy.
Summary
Corporate gifts affirm a strong and successful relationship
and strengthen the personal bond between giver and recipient. It helps increase
customer loyalty, prevents customer churn, shows appreciation, acts as a
constant brand reminder and promotes brand loyalty.
When choosing the corporate gift
and preparing the list of recipients, never forget the people who have really
helped your business grow, whether they are your
employees, customers, NGOs or Government regulators. Gifting to charities in
conjunction with social and community businesses can help create a strong bond
between you and the stakeholders.
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