What Is Corporate Gifting and Why Do Business Practise It?

What Is Corporate Gifting and Why Do Business Practise It?

Are you planning to promote your company’s brand? Maintain client relationships? Establish sales prospects? Or boost employee morale? 

Whatever your goal objectives, you can never go wrong with corporate gifting. 

Companies and marketers have long relied on the power of this particular business custom to secure better relationships and strong connections with various stakeholders.

What Is Corporate Gifting?

Corporate gifting is the practice of giving gifts to employees, existing clients, or potential partners as a way to build a lasting relationship. Recipients see it as an expression of gratitude, appreciation, and value. 

With this gesture,

  • Employees will feel a sense of connection toward their employer and are driven to continue to do their best at work;
  • Clients will be encouraged to continue their service or become brand evangelists, thus, bringing your company back on top-of-mind with the general public; and  
  • Prospects will be motivated to take a desired action, such as completing a purchase, signing up for a service, or making a discovery call.

When talking about popular corporate gifting ideas, there are so many to choose from. These include:

Personalised items. These include items such as pens, mugs, or keychains with your company’s logo or name on them. 

Electronics. Technology items like power banks, wireless chargers, headsets, smart speakers, or smartwatches make popular corporate gifts.

Food and drinks. Gourmet gift baskets, coffee kits, chocolates, or wine are well-received gifts loved by clients or employees.

Office accessories. Items like table clocks, pens, notebook sets, or desk organizers can be useful and practical gifts for employees.

Experiences. Companies can give gifts like tickets to a concert, movie premiere, museum, food tasting tour, a spa day, or cooking class.

Clothing and accessories. Apparel items like shirts, hats, or backpacks with the company’s logo can be a way to promote your brand.

Customized gifts. Companies can choose to create unique and personalized corporate gift giveaways that are tailored to their recipient’s interests and preferences.

Why Give Corporate Gifts?

The practice of corporate gifting goes all the way back to ancient civilizations where gifts were often exchanged as a form of diplomacy and to establish alliances. 

In medieval Europe, merchants would give gifts to lords and kings as a vital key to gaining access to their markets and securing trade agreements. While in ancient Greece, it was common for leaders to give gifts to show gratitude and manage political relations.

With the custom being widely used by the ancients achieving great results, no wonder it is still hugely relevant in today’s commercial business.

In the past years, along with the onset of the COVID pandemic, corporate gifting has become an increasingly important part of a company's overall strategy. 

According to the findings of a May 2021 Coresight Research survey conducted among 300 corporate gift buyers across companies up to US$30 billion in revenues, more than 80% of them said that gifts have improved relationships with clients and 48% said gifting delivered a substantial benefit.

Among the benefits gained were making the recipient feel valued (45% reported substantial benefits), improved customer loyalty (43% substantial benefit), and improved employee retention (41% substantial benefit).

With these accrued benefits, companies plan to keep their current accelerated pace of luxury corporate gifting or even increase it. 

Corporate gifting plays an important role in a company's overall strategy and can have numerous benefits, including:

Improving employee morale. Corporate gifts are an excellent way to increase employee morale. This is one way you can show them how much you value their hard work and years of service to the company. It promotes a boost in employee satisfaction, retention, and increased productivity.

Building stronger relationships with clients. Corporate gifting is a wonderful way to express your gratitude towards your clients and business partners. This can help build and strengthen business relationships, improving communication and trust.

Establishing a company’s brand. Giving gifts is a marketing strategy you can use to promote your business spreading awareness of its products and services by using products (i.e. pens, hats, notebooks, t-shirts, and more) branded with your logo and business cards.

This helps your clients and their peers remember your company effectively remember your brand via promotional items.

Boosting company image. By showing generosity and thoughtfulness through corporate gifting, a company can build a solid brand reputation in the eyes of employees, clients, and other stakeholders. This positive reputation will become more sales from customer referrals, plus repeat business, more motivation, a better working environment, and all good things for the business.

Encouraging repeat business. Customers will be more encouraged to repeat purchases if you thank them with a corporate gift. This strategy has been used by successful brands for years and it works.

Take note, in choosing a Sydney corporate gifting it is very important to consider your recipient’s tastes and interests and also factors like budget and company culture. The main goal is to find a gift that is both meaningful and practical, and that will help build and strengthen relationships. 

For gifts that matter and will surely bring you top-of-mind, Little Event Boutique is a one-stop shop for cool, stunning, and practical corporate gifts at reasonable prices. Visit us today!

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