To first know what corporate gifting is not, it is important to establish what it is.
When the large or small business or corporations give gifts to their contributors, employees, clients, investors, customers, to other businesses, etc. this may be considered a corporate gift.
The purpose of corporate gifts may be to reward loyal members, market the business or corporation or to give recognition to outstanding clients and employees. By doing so, you are strengthening the relationship the corporation shares with other persons or corporations, especially those overseas. This will influence them to work harder (employees), increase investments or spread good words about your corporation or business. This will, in turn, attract new clients or customers as you are establishing a good reputation.
Additionally, potential hard-working employees may also be compelled to strive to work at such an upstanding corporation. When done correctly, corporate gifting may also save you money on advertising as subtle branding can go a long way in terms of promoting your business. Gifting employees is another form of corporate gifting which boosts employee morale by showing your appreciation for their dedication and hard work, consequently boosting production and contributions, especially when there is an incentive to be earned.
Unique corporate gifts can be obtained from corporate gifting wholesalers in Singapore. These wholesalers can provide you with all the information and gifts you need to ensure a successful gifting exercise.
A corporate gift does not always have to be a physical gift, such as a briefcase, water bottle or calendar, but can include the services which the corporation offers. For instance, if the corporation is an airline, it can offer discounts on flights, packages, and deals or even paid vacations. Or, if the corporation specialises in auto repair or bodywork, a gift can be a free car wrap or car wash. Similarly, the corporate gift can be a monetary one to charities or fundraisers and even for scholarships and bursaries.
Now that you know what it is, it is time to explore what it is not.
A corporate gift isn’t and shouldn’t be a bribe
The point of the gift is not to buy the recipient’s favour. When corporate gifts are given genuinely, they are to strengthen relationships and to show appreciation for the relationship you share with the client. Therefore, don’t take a client to an expensive dinner and be upset when he or she doesn’t work with you. Chances are, it was you and not the gift and you should reevaluate your people skills.
Corporate gifting isn’t rocket science
Though mistakes are common, corporate gifting isn’t rocket science. Once you follow all the guidelines and do’s and don’ts, you’re sure to succeed. You should consider various factors such as budget, culture, and religion and put yourself in the shoes of the recipient. What would you deem an appropriate or acceptable corporate gift?
Understanding what corporate gifting is and what it isn’t can help you to avoid some pretty embarrassing situations.