Gift giving on personal grounds is common, and we all know the joys associated with giving and receiving gifts. However, what about gifts within a corporate setting?
Giving is an art. It involves a lot more than just physically exchanging items. It acts a medium of communication by sending a thank you message to the recipient. Strong client relationships may include a host of factors, but a successful method of showing your gratitude to esteemed clients for their contributions to your company’s overall success is to send them a nice gift. The gift signifies that your company cherishes its relationship with its clients.
When used correctly, corporate gift giving can help strengthen relationships, boost sales and enhance company cohesion, brand visibility and awareness. If you want to incorporate gift giving into your business strategy, first you need to identify its specific objectives or motives.
Most corporate gifts are imprinted with the name or logo of your company. A company’s logo is usually the crucial part of its business identity. Pause for a moment and think about the logo of Nike and Apple. The sight of the logo quickly reminds you of the company and its services. A practical gift, for example, a pen or USB charger, branded with the company’s logo ensures your business remains at the top of the receiver’s mind every time they use it. Moreover, this branding strategy will also get your business to a wider audience and improve brand awareness.
Boost repeat sales
You should never forget about your existing customers. It doesn’t make sense attracting potential new customers if you are unable to retain your existing customers. It’s a proven fact that if you show appreciation to your current customer base, they are more likely to do business with you again. Repeat sales are the objective here. By showing your existing clients that you value their business, they are more likely to stick with you.
Keep clients engaged
Brand engagement, based on the type of business you have, can drop off once a sale has been completed. In this case, you want to maintain clients’ engagement with your brand. You don’t want them distracted by the sparkly things your business rivals are offering. Moreover, by staying on top of their minds, they are likely to refer your business through word of mouth to potential new clients.
Companies love referrals, and those who give out referrals love to be appreciated. Generally, referral clients require less convincing to close, have fewer objections, are more reliable and remain loyal longer.
If you want to generate referrals, you need to provide incentives those who refer people to your company. Incentives may range from corporate gifts to monetary rewards depending on the business generated. Personalised gifts in Singapore would also be greatly appreciated. It is quite amazing how something as simple as a card or a bottle of wine can be such a big incentive for people to refer others to you.
Preschoolers quickly find that the ‘Everybody is doing it, so I should as well,’ justification isn’t a proper reason on to act in a particular way. However, this applies differently in the corporate sphere.
With many companies realising the essence of gift giving to clients, the writing is on the wall for companies not yet convinced of this practise.