Corporate and Business Gifts
What makes good corporate gifts? The choices abound and vary depending largely on who is giving and who is receiving.
Corporate gift giving is a well-accepted practice in many industries. Surveys indicate that nearly half of corporate America gives business or corporate gifts. Typical recipients of corporate gifts are customers and employees, and influential clients and suppliers.
Many companies consider giving corporate gifts a critical part in strengthening their relationships with key partners in the business such as major clients, suppliers and distributors, media, and other key business contacts.
As in any other kind of gift, corporate gifts should ideally be freely given without any preconditions for the recipients. If a gift carries certain conditions before you can have it, it is more of an incentive. Although it is also a form of promotional products, corporate gifts are quite different from ad specialties used for promotional campaigns or marketing activities. Usually, corporate gifts are more subtle when it comes to company imprints or advertising.
There are many reasons why businesses engage in corporate gift-giving. One of the most common reasons why companies give corporate gifts is to show gratitude or appreciation to valued customers. Often, corporate gifts are also given to build and foster business relationships. Some companies use corporate gifts to recognize exemplary performance and contribution of their employees.
Companies may apply any or all of the above-mentioned reasons for their corporate giving practices. Often they time their giving on special dates such as holidays, anniversaries, and other important milestones. When done in a strategic way, corporate gifts can help companies promote goodwill and build stronger relationships with customers and business associates.
A survey done by the Promotional Products Association International, for example, show that vendors with a corporate gift program have double chances of getting contracted again by a customer compared to those that do not have a gift-giving strategy.
To be most effective, however, companies should always exercise caution and prudence when giving corporate gifts. They should also consider the ethical considerations when giving gifts so that their gesture will not be misinterpreted or taken negatively.
Most corporate gifts are sourced from suppliers and distributors of promotional products. Some of the favorite corporate gifts include luggage tags for frequent business travelers, stylish leather wallets, planners, calling card holders, passport case, computer and document bags, briefcases, and luggage. Other items in the corporate gift list include office items such as pen and desk sets, tickets to concerts, play, or sports events, gift cards, as well as food and wine.
For the more high-end corporate gifts, studies show that recipients prefer a more discreet imprint of the company’s name or logo. Otherwise, they may just end up not using the item and the giving company does not get a real mileage for its promotional effort.
When developing your strategy for corporate gift-giving, make sure that you deal with experts in the field of promotional products. A good professional promotional consultant should be able to assist you in choosing the best corporate gifts for your clients and business associates. He should be able to guide you in mapping out a gift-giving program that jives well with your overall business goals.
Aside from determining which items to purchase, your consultant should be able to help you craft the most effective ways to distribute your corporate gifts and get timely and accurate price quotes.
Remember that your gift reflects your company’s image so it deserves to get much thought and attention. Choosing the right corporate gift item for the right person and giving it at the right time can go a long way in building a stronger business relationship.