The Importance Of Corporate Gifting: Who Should You Gift To?
Corporate gifting is the practice of creating a touchpoint via the use of a gift, whether it’s a physical item such as a mug, an edible treat, personalised clothing, or even through non-physical gifts like an eGift card. Receiving a gift is powerful as it creates a sense of connection between the giver and receiver, and this in turn, creates positive associations whether it’s with a person or a brand.
Even up to this day, numerous companies and marketers have long relied on the power of gifting to secure and establish better relationships with those around then. When utilised as a part of your overall marketing strategy or employee retention efforts, corporate gifting can be highly effective in terms of satisfaction.
The effectiveness of gift-giving has a strong correlation to its psychological impact on the recipient. According to a study, when one receives an unexpected gift or surprise, the physical contact with that gift results in the Endowment effect – a sense of ownership over an item which later translates into an individual valuing it more. It also influences feelings of trust and reciprocity. This effect is displayed in the results of gift-giving and marketing in many common scenarios of corporate gifting.
The following are groups of people you should aim to target when corporate gifting.
Gifting can greatly motivate those who are not your customers yet, to become one. In fact, it was found that over 80% of consumers stated that they are more likely to do business with a company that offers personalised experiences and gifts. Evidently, sending the right gift at the right time can serve as a significant motivator to potential future prospects to take the desired action. These include completing a purchase or signing up for a particular service.
Well-timed gifts are also beneficial to clients as they let your clients know their business is valued, and this can encourage them to be consistent with their service or in better cases, become brand evangelists. Based on a study, it was found that consumers who have an emotional connection to a brand have a 306% higher lifetime value, and this benefits your company in the long run. With the capability to make your company top-of-mind in cases where it has been a while since the last interaction, corporate gifting is definitely a necessity.
In most cases, the key to positive outcomes starts much closer to home. Good quality and well-personalised gifts create the feeling of being appreciated by employers, and this fosters a sense of belonging and connection to the team. Engaged employees who feel more valued will make the office an amazing place to spend time daily. Adding on, incentive gifts for customer-facing teams like marketing, sales, and customer support can also boost job satisfaction and productivity, making everyone’s grind better. Overall, good gifting can engage employees in a way that verbal praise cannot match up to.
Over the years, one of the most successful strategies used by companies is the use of corporate gifts. Businesses have known the vitalness of corporate gifting and how it acts as an instrument for their growth and development. Corporate gifts aid in establishing strong and long-term relationships of companies with their prospects, clients and employees.
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If the items above are not enticing enough, browse through our online catalogue and find the ideal item you’re looking for. For any enquiries, do not hesitate to reach out to us!
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