08/19/2024
The Ultimate Guide to Corporate Gifting
Corporate gifting is a $242 billion industry known for improving business relationships and engaging employees. A corporate gifting strategy can increase employee retention, elevate brand awareness and boost sales.
The business world has changed, and companies are developing creative corporate gift ideas that differentiate them from the competition and help them achieve strategic objectives. But a misguided attempt at choosing the perfect corporate gift could end up costing you relationships instead of strengthening them. This comprehensive guide will cover everything you need to know about corporate gifting.
The Art of Corporate Gifting
Giving and receiving have been part of human relationships for centuries and creates feelings of reciprocity and trust — the fundamentals of fruitful business relationships. Corporate gifts can enhance various business relationships.
- Prospects: Corporate gifts can transform prospects into customers. Sending a well-thought-out gift at the right time can motivate prospects to cement their relationship with your business.
- Customers: It’s cheaper to retain customers than acquire new ones, and 68% of people who received a memorable gift said it strengthened their relationships with the business that gifted them.
- Employees: Happy and engaged employees are more productive, and corporate gifts are vital to show employees you value them.
Types of Corporate Gifts
Let’s start with the basics of corporate gifting — knowing what is available and when to give them.
Promotional Gifts
Promotional gifts are typically part of a strategy to publicize your brand. Some gifts serve as marketing collateral, providing information about your offerings and aiming to create a positive first impression. One popular example is branded merchandise, which can help drive your message home.
Branded merchandise can suit many gifting situations, from welcoming a new pet to the family to enriching a work-from-home setup. A primary benefit of promotional gifts is that people often reuse or wear them in public, increasing the impressions your brand receives. Internally, branded swag fosters a sense of camaraderie among employees, spreading to customers and stakeholders.
Appreciation Gifts
Event gifts are suitable for various occasions throughout the year, such as trade shows and conferences. Your choice of gifts may vary depending on the event, but crafting a strategy is an excellent first step in boosting brand awareness and strengthening relationships.
Here are some quick tips for different events.
- Trade show giveaways: Your gifts should draw people to your booth and set you apart from the competition. Try to link them to your business offerings, but keep them functional. You can also encourage people to sample your product with gift cards.
- Conference souvenirs: Giving gifts at conferences is an easy way to make a lasting impression. Depending on your business and the nature of the event, you have plenty of choices, from branded tote bags to tech accessories and electronics. You can also equip attendees with lanyards and name tags.
Personalized Gifts
Personalized corporate gifts are the ultimate gifting option for creating a connection. You can choose whether to imprint a name, picture or favorite quote on gifts like these.
- Customized items: You can customize many standard gifting options, from calendars to duffle bags. The secret to making a unique personalized gift is linking it to the recipient’s passions, hobbies or roles. Gifting a personalized business card case to a salesperson or a custom blanket to a remote worker in winter are excellent examples.
- Handwritten notes and cards: People connect better with gifts when they’re personal and sincere. You can take things further with a personalized, handwritten note or card. A thoughtful message of appreciation shows you’ve taken the time to acknowledge the recipient.
Holiday Corporate Gifts
Successful companies employ a diverse workforce and partner with a wide range of clients. Within this multicultural network, be mindful of everyone’s holiday customs and traditions. Some easy ways to do this include asking people about their dietary requirements, sending inclusive cards and observing different customs and traditions in the workplace.
Corporate gifting for the holidays can take various forms, but ultimately the aim is to choose gifts that promote goodwill between companies and their staff or clients. Here are a few holiday-inspired gift ideas to consider.
- Food gift baskets: The holidays are a time to indulge in tasty foods. Gifting clients and staff with baskets filled with treats means they have something delicious to share with guests when they visit.
- Stationery for the new year: Calendars and journals can be inspirational gifts as people start looking forward to a new year.
- Travel gifts: Many people plan vacations over the holidays. Travel gifts such as tumblers, branded duffle bags and power banks ensure your company remains top-of-mind during people’s travels.
Setting a Budget
Small businesses on a budget have different needs from large multinational operations. A positive return on investment from your corporate giving is essential. Setting a budget before you start gifting means you know how much you have to spend so you can find the most effective gifting alternatives.
- List gifting occasions: Start planning early, so you have plenty of time to research and purchase the perfect gifts.
- Set an overall budget: Set a budget that covers the total amount you can spend. Start with the number of people you plan to buy gifts for, from employees to clients. Assign a budget for each person. For example, if you budget $150 a year for each of the 20 people on your list, your total budget will be $3,000.
- Quantify the gifts: Determine how many gifts you’ll need per the recipients and events you’re celebrating. For example, if you plan to celebrate five events with 20 people, you’ll need 100 gifts.
- Count on extras: Once you have an amount in mind, it’s best practice to add 10% to 15% to cover the unexpected. A client may get married, something might get damaged in transit, or you may hire someone new.
Cost-effective Gifting Strategies for Small Businesses
While corporate gifts should be meaningful and useful, they must also align with your budget for your gifting strategy to be effective. The following ideas make excellent cost-effective gifts for recipients with different roles and preferences.
- Office-related gifts: These accessories can make people feel like valued team members or remind customers of your offerings during their workday.
- Travel gifts: Travel gifts are an excellent option at the start of the holidays. They can be simple, cost-effective and thoughtful. They also acknowledge your appreciation outside a work setting.
- Experiences: Get creative and think of ways to give people experiences instead of just physical items. You could gift a burger night with a custom gift set or a coffee set for the coffee lover on your team.
- Health and beauty: You can take many angles for those who love health and fitness, from caps for runners to personal care items like sunscreen and spa kits.
Identifying the Right Recipients
A corporate gift is only effective if it reaches the right person. Consider what you want to achieve as part of your strategy and what gifts will motivate them to take the desired action.
Targeting Clients and Customers
Thoughtful gifts are an excellent way to enhance your connection with your current customers. Keep the following tips in mind when creating a corporate gifting program for your existing customers.
- Have a clear goal: Know your ideal outcome before you start gifting so you can choose gifts and times that will yield your expected results.
- Balance your budget: Your gifts should always have maximum impact while remaining within your budget.
- Custom gifts: Sending gifts with your corporate brand keeps your business top of mind with your customers.
- Boost your brand: It should be evident that a gift comes from you. Branding is essential to connect the item with your business offerings and ensure more impressions as the recipient uses their gift.
Employee Gifting Strategies
Your employees are your most valuable asset — engaging them is an excellent strategy to ensure a happy working relationship. A thoughtful gift is a perfect way to show employees you appreciate their work and value them personally.
You can create an employee gifting strategy in several ways, including the following.
- Recognize milestones and achievements: Celebrate with your employees and acknowledge their hard work with well-timed gifts, whether it’s a life milestone like a wedding or a work achievement like getting a promotion.
- Celebrate with holiday and year-end gifts: The holidays or the end of a successful year is the perfect time to acknowledge everything you achieved as a team.
Vendor and Partner Appreciation
A corporate gifting strategy is also an excellent way to show your partners and vendors how much you appreciate your business relationships. You can use these gifts to celebrate the end of the year, your anniversary working together or important personal milestones. Solidify your business relationship and set the tone for upcoming projects with thoughtful and valuable branded gifts.
Prospective Clients and Leads
Creating reciprocity is essential in new relationships, and making a prospecting gift part of the journey can result in a positive introduction to your brand. Like all corporate gifting, the choice is yours, but prospecting gift ideas could include:
- A small branded item to thank the person for their time.
- A swag item to strengthen the connection.
- A welcome package after closing a sale.
- A writing gift set to take notes in your first meeting.
- A coffee mug or coffee gift card to accompany an online meetup.
Personalizing Gifts for Each Recipient
Personalizing your corporate gifts is a powerful way to make you stand out in people’s minds. Taking the extra time to understand your recipients and their preferences creates a more meaningful experience and strengthens the connection with your brand.
You can personalize gifts in many ways. For example, depending on your budget, you could engrave someone’s name on an item or print their initials on a shirt. If your budget doesn’t allow for this level of personalization, never underestimate the effect of a handwritten note or memorable experience.
Choosing the Perfect Gifts
Finding the perfect gift can be a challenge with so many options to choose from. Remember the following factors as you narrow down your options.
Recipient Preferences
Take time to research the recipient’s preferences. You can check their social media to see if that gives you any information about their hobbies or ask a close colleague what kind of gifts the person would appreciate.
If you’re looking for gifts that appeal to a larger group — such as your staff or a partnering business — consider which demographics they have in common. For example, you may want to choose wellness-related items if your team consists of mostly Gen Z workers.
Corporate Culture
Your corporate gifts should always reflect your company culture. Every gift you give is an opportunity to connect with the recipient and communicate why your business is the best choice for them. What does your company stand for? What do you pride yourselves on? The answers to these questions can inform your gift choices. For example, tech-based gifts may represent you well if your business is very tech-forward.
Ethical and Sustainable Gifts
Sustainability is a growing concern among many industries, and the organizations using sustainable options are leading in attracting and retaining customers. Ethically sourced, sustainable gifts have significant marketing benefits. People prefer to align with a brand that prioritizes eco-friendliness.
In addition, 64% of consumers want to buy green products, so it makes sense that they would appreciate them as gifts. With sustainable corporate gifting options, you can increase sales and build trust with your current clients.
Customizing Corporate Gifts
Customized gifts add an extra layer of care, and you can tailor them to specific themes and personality traits for maximum impact. You have several options to make your corporate gift stand out.
- Personalization: Add someone’s name or a special photograph to a mug or give a customized award to an employee who went the extra mile.
- Branding and logo placement: Corporate gifts should boost brand awareness without seeming like a marketing gimmick. Stuffing your logo and branding into every available space can make the recipient feel less valued. Your gift should be a thoughtful and subtle representation of your brand.
- Tailored gifts: Gifts tailored to specific themes or occasions can create lasting memories. Consider ringing in the new year with a unique theme or link your gifts to an event, like a charity golf day.
Thoughtful customization has a far more significant impact than generic corporate gifts. It’s a delicate balance between promoting your product, evoking emotions in the recipient and achieving the desired response, whether a new client, an employee who feels valued or solidifying an existing relationship.
Corporate Gifting Etiquette
Ethical considerations are vital in successful corporate gifting, and appropriate etiquette is essential in achieving the desired results. Consider the following points to ensure you adhere to corporate gifting best practices.
- Timing: Try aligning gifts with the intended occasions, such as celebrating the closing of a deal, business events or special occasions. Ensure your recipients never construe your gift as a bribe — give it with no expectations or strings attached. Avoid gifting during tenders, contract negotiations and disputes.
- Cultural and religious considerations: Consider your recipient’s culture and religion. For example, sending a Christmas gift to someone who doesn’t celebrate the holiday might be insensitive. Also, research dietary restrictions or preferences when gifting food items.
- Presentation and delivery: How you present your gifts is essential to completing the recipient’s experience. Spend some extra time on the presentation and ensure it reflects your brand and the quality of your work. The delivery must occur at an appropriate place and time.
- Ethical considerations: Keep your gifts appropriate and avoid making them too lavish, which might make the recipient feel awkward. Gifting public officials is often inappropriate, especially if the item is expensive or luxurious. Steer clear of risky or potentially offensive humor. Consider sustainable gifting to ensure you work with the recipient’s values.
Gifting Trends and Innovations
Corporate gifting is all about making your brand stand out among competitors, so staying ahead of the current trends is essential. If you know what everyone else is doing, you can identify a different approach or add to popular gifting options.
Follow these current trends in corporate gifting to ensure your gift stands out.
- Technology and digital gifting: Technology is a part of everyone’s lives, and you can celebrate technological innovations with related gifts. Digital gifting is also popular, like virtual workshops, e-vouchers and online subscriptions.
- Sustainability and eco-friendly gifting: Growing awareness of environmental issues means you can make a positive impression with eco-friendly gift options.
The future of corporate gifting is leaning toward sustainable and personalized experiences. Rapid advancements in artificial intelligence may lead many people to choose gifts based on algorithms that analyze the recipient’s preferences, mood and behaviors, allowing you to make the gifting experience more meaningful.
Measuring the Impact of Corporate Gifting
Corporate gifting must have a measurable impact to be practical. It should form part of a strategy that boosts sales and drives your business forward. Consider the following metrics to evaluate your gifting plan’s impact.
- Return on investment: There may not be a concrete way to measure your return when gifting your team members, other than tracking employee turnover and surveying them about their job satisfaction. However, you can track your return when trying to convert potential clients. Calculate the amount you spent on gifts, divided by the profits from new clients. Multiply this number by 100.
- Cost per conversion: This metric tells you how much it costs to convert a prospect with corporate gifting. Divide the total cost of gifts sent by the number of prospects who become customers.
- Recipient feedback: Ask your recipients how they felt after receiving your gifts. This information can help you identify opportunities to improve your gifting strategy.
Why Corporate Gifting Works
Aside from creating connections, corporate gifting can help you capitalize on market events. For example, a Minnesota health care company turned a need for hand sanitizer for front-line workers into an effective marketing campaign. In a partnership with ePromos, they identified a growing community need amid the COVID-19 pandemic. Together, they found a way to meet demand and boost their brand with a subtle logo on hand sanitizers and guideline magnets illustrating COVID-19 safety protocols.
The above example is just one of thousands of successful corporate gifting campaigns. Many leading companies have corporate gifting programs to enhance relationships and provide a constant reminder of their brand. Receiving gifts and gratitude has a tangible impact on our social, physical and emotional health. Corporate gifts create moments of connection, taking relationships beyond transactional and making them personal. Many industry leaders know this, so they create and budget for detailed gifting campaigns for employees and stakeholders.
Challenges and Pitfalls to Anticipate in Corporate Gifting
A corporate gifting strategy considers potential pitfalls. Dealing with budget constraints is a primary concern for many businesses, and you must choose a partner who understands how to work within your budget and still yield the desired results with affordable options.
You may have to adjust your spending in challenging times, but gifting can be even more effective in times of change. It shows you’re consistent and still value the people who power your business when circumstances are less than ideal.
Common Gifting Mistakes to Avoid
A simple mistake can detract from your hard work. Try to avoid these common mistakes for a successful gifting campaign.
- Impractical gifts: Find a balance between functional and imaginative.
- Impersonal gifts: Always add a personal touch to your gifts, even if it’s a handwritten note. Something impersonal comes across more like a marketing gimmick than a genuine gift.
- Overly personal gifts: Remember, a corporate gift is a professional interaction. Think about maintaining your reputation while still being thoughtful and genuine.
- Timing: If you wait too long to organize your gifts, they may not be ready for an event. It’s also easier to find what you want if you plan.
- Provider choice: Partnering with an unreliable provider can harm your image. Work with a trusted business to deliver quality gifts on time.
Frequently Asked Questions
We’re here to help if you’re new to corporate gifting. Here are answers to some of your most pressing questions.
Should I Personalize Corporate Gifts?
Personalizing gifts with your logo or business tagline is an effective way to keep your business top of mind. You can take your personalization one step further by including an individual note or choosing gifts that complement the recipient’s hobbies.
Is There a Maximum Value for Corporate Gifts?
While there is no specific maximum value for corporate gifts, many companies have policies on gift types and expenditures. Ask about these guidelines before planning your corporate gifting strategy.
What Are the Benefits of Corporate Gifting?
Corporate gifts have several benefits for staff and clients. For example, acknowledging employees’ hard work will make them feel acknowledged and appreciated. Similarly, giving clients branded gifts strengthens your partnership and encourages loyalty.
Elevate Your Corporate Gifting With ePromos Today
Effective corporate gifting can be a challenge. With so many considerations, partnering with the experts is an excellent way to refine your strategy and get the best possible results. We can help you choose the right gifts for your budget with your results in mind. We have numerous options for any occasion, giving you many ideas suited to your culture and values.
Feel free to browse our selection of corporate gifts, or contact us to refine your gifting strategy today!
Updated 08/19/24