Want to send across rewards and incentives in just a few clicks?
Join Plum to drive behaviors that power business results, with rewards and incentives made simple. Choose from the widest global catalogue of 20,000+ gift cards, perks, experiences, merchandise and benefits. Submit a request to see our platform in action right away!
When you hear the words, like gift-giving or gift-receiving, what comes to your mind? It always reminds us of the good moments that we can share with others, isn't it? Today, we will discuss corporate gifting, which kinda differs from the standard present gift boxes we get at New Year or on the birthday. Let's see how:
What is Corporate Gifting and Why do Companies use it?
Have you ever received a gift card, swag products, or premium items for free or for sale? We are sure this form of gratitude of a certain brand to you, as their loyal customer, was highly appreciated. Come on, who doesn't like to receive gifts for a certain occasion or without any whatsoever? And most brands do this for a reason.
Corporate gifting is the practice of interaction among actual and prospective customers, employees, or partners through an employee gift to attract and retain them in a very grateful and generous way. From this description, it is easy to guess that the purpose of granting a gift lies in establishing a connection and sharing a feeling or emotion. Think back to the times you received a present from your friend or prepared one yourself. In both cases, it was done for the sake of conveying a specific message and also establishing a relationship. Similarly, brands come up with corporate gifts for employees to accomplish the same exact outcomes.
Let's see the marketing strategy for corporate gifting that big and small businesses should follow to promote growth and development.
1. Understand the receiver’s interests
Whether you choose a type of gift for an employee, or charity, or supplier, it is undeniably significant to acknowledge people’s different backgrounds, personalities, preferences, tastes, etc. Corporate gifting can become a unique event only when your company knows how it matches the receivers’ values. Moreover, it makes it less daunting to set your mind up about gift ideas.
There is a broad range of options available, however, your aim remains constant: to get reciprocal feedback from the client or colleague, or partner. Human psychology is as simple as ABC. If you value your relationship with someone, you will do anything to make them go over the moon. And a great corporate gift is always a good choice. All you have to do to maintain this connection and grow trust is simply to identify something personal and special that each recipient has and provide them with it.
2. Think outside the holidays
Don’t just rely on holiday gift seasons to show your appreciation. Disappearing for months won't take you anywhere further in a relationship with people you work with. While other brands wait for some occasion to come, create a celebration, and arrange corporate gifts distribution now. Spread all your love and gratitude regardless of your budget. It doesn't mean you have to lose a fortune, no. It's true that many creative gifts in this day and age are affordable. That's why it shouldn't become a huge deal to send a little present without any select date in mind.
Of course, many would argue and suggest making gifts at the right time. But, let's not forget about surprises we all relish. There is probably no better powerful emotional boom than an unexpected thing. So, if there is a financial opportunity to organize it, don't miss out! People will thank you for it!
3. Automate corporate gifting system
Corporate gifts vary from calendars and professional notebooks to more expensive items such as headphones and Travelling Power Banks. It is up to an employee's choice what is more convenient and practical in terms of receivers' status and a level of connection. However, as a new era of corporate gifting is approaching we notice there are catalogs of digital products, services, and experiences that everyone starts choosing. Black Friday and winter holidays are just around the corner and many platforms, like Plum by Xoxoday are distributing digital gifts.
The reason why it is leaning towards the automated system for selecting, storing, packing, and shipping is because of saved time and cost. A software development company, like VironIT can even support you in developing a concrete digital reward. Whatever floats your boat
4. Be generous, but don't go to extremes
It often happens that the way how we want to please our customers or teammates goes far beyond simple generosity. After accepting a gift, they might start wondering how much it is worth and what a huge input should they bring instead. Corporate gifting is neither about buying your clients with a 3-month PRO version of the amazing brand's service nor about promoting your staff for an accomplishment this week. It is just a non-intrusive way to encourage and praise.
Picking a present isn't a meaningful thing. You have to wisely think about the available budget, determine the appropriate occasion and only after these steps are done, you can determine what gift you distribute. Obtaining something very small and modest will already be considered as generosity.
Digital presents are obviously less daunting to deliver and share among a wide audience. They come in the form of movie tickets, newspaper subscriptions, eBooks, and much more. It is easy to implement and track because everything is set up online. More particularly, a code-based reward can solve many transferring issues and decrease the lead time. Receiving an online gift will take just a single click. Here is the basic instruction:
Recipients (clients, employees, sponsors) find the reward code of a certain gift
The website provided assists them in choosing a type of gift
Everyone enjoys their gift courtesy and awaits the upcoming one
Promoting your corporate culture and recognizing your clients have never been easier!
How can Corporate Gifting facilitate further Business Growth?
You can maximize your corporate gifting efforts in multiple of ways. But, surely, it is better to measure how it aids your company if you set more certain objectives. How can you attain your business growth with the help of corporate gifting? Let's find out together:
1. Creating a long-lasting relationship with new clients
Remember that consumers are never going to purchase from a company they hardly heard of. If they don’t know or trust it, showcasing products or offering services are just useless. With that in mind you will want to develop a real marketing strategy. Corporate gifting is one of them. By granting something connected with your company you will not only educate new customers about it, but also stimulate a better interaction from an early stage.
2. Articulating admiration for actual customers
You can evoke the feeling of appreciation if you choose a present pertinent to the utilization of the recipients. Imagine they are already admiring your brand and remain permanent customers for quite a significant period. In order to keep them hooked why don't you consider giving out knick-knacks related to your business industry? As soon as a customer gets incentives and you maintain their admiration this will be continuously working in your favor.
3. Supercharging partnership and approaching new sponsors, suppliers, etc
It is especially important to maintain a long-term relationship between your organization and its suppliers, sponsors, or partners. Over time you will need to get the feedback, ideas, or even investments to keep streamlined and effective cooperation. And business gifting is an amazing tool to show your care to those you work with or potentially willing to become future partners with. Furthermore, when it is about time to launch a new product, gifting is a good way to keep them updated on progress. Whether in the form of an event or a free-trial offer, it will be much appreciated.
4. Improving the image of your company
It is important to carry out a regular brand audit, to get to grips with your organization's performance stage and assess potential. It can be creatively done through the right present at the right time and right place. Your brand public image is vital for your business to keep thriving and developing. That is why investing your efforts towards authority improvement must become goal number one. Send a gift once and it will bring amazing results many more times next time.
5. Introducing new products or services
While expanding your business, it is always a good idea to celebrate your company's anniversary or launch new products and services along with some presents. Indeed, there are hundreds of ways to market new items in your catalogue or send invitations to your meeting, but it might have a huge budget or resource concern that you are unable to provide. Luckily, corporate gifts were discovered for one of these good reasons. You can significantly change the way your company is seen by others and, also, ensure a proven growth in sales of promoted goods and services. Can’t believe it is real? You never know unless you try.
To wrap up, corporate gifts are one of the best ways to show everyone their value and entertain. It is fun and enjoyable. However, you need to demonstrate this appreciation in a genuine and thoughtful manner, so it is not perceived as a brand's bribery or trick. Pick an excellent gift that is neither too expensive and extra funky, nor too needless, and your relationships will be automatically improved and strengthened. That's a key to a sustainable business.
Digital corporate gifting made simple with Plum. Drive behaviors that power business results with engaging rewards including gift cards, experiences, discounts, merchandise, & more. Want to know more? Schedule a demo now!
At Xoxoday, we deeply understand the intrinsic and extrinsic motivation and engagement drivers of people, be it an employee, supplier, contract staff, gig, or consumer. We bring simplicity and continuity to a complex everyday problem.