When you’re running a business, gifting can take you a long way. How you treat your employees’ work anniversaries or clients’ birthdays speaks a lot about your organisation.
When you acknowledge your employees and clients, they feel valued and want to continue working or maintaining client–brand relationships. Gifts are more than just material symbols of your company’s commitment to retaining employees and clients.
They’re also a way to express your gratitude and are a gentle reminder for the recipients. It’s hard to overlook someone who gives you gifts routinely or on special occasions.
Keep reading to find out how gifting can help your business.
1. Assure Long-Term Relationships
Once you add your client or employees to your company’s calendar, it helps sustain the owner-employee or brand–client relationship. When you’re consistent with gifting, your clients can rely on the longevity of your business and trust you in the long term. Gifts help affirm business relationships and intensify personal connections between clients and employees. Research shows that gift-giving increases business activity and consequentially, the return on investments.
2. Improve Employee Performance
While incentives reward employees for reaching their defined goals, gifts can boost morale without any preconditions. Unlike incentives, gifting doesn’t add to the giftee’s or employee’s pay. It is a token of acknowledgement. Gifts are generally generic and not given on a hierarchical basis. Businesses can give gift hampers to an individual or team to support teamwork and other accomplishments. Giving away gift cards to an employee or donating to a charity of their choice are also some popular gifting ideas. Your workplace policy can provide you with helpful guidance for giving gifts.
3. Strengthen Bonds
Corporate gifting is a crucial part of business strategy. When logos are engraved on gifts like pens or perfumes, they can create positive associations with a business or brand. Businesses often rely on gifting to secure better relationships and to show appreciation to their clients. When visitors of the recipients can see the brand logo, it can ignite their curiosity and subtly offer a visual advertisement, for free! It stirs up a feeling of trust for the giftee. Gift-giving offers a personalised and tangible experience that can motivate prospective investors, clients and employees to take the desired action.
4. Provide A Sense Of Ownership
The recipient’s physical contact with a gift gives them a sense of ownership over the item. Just like in a romantic relationship, receiving a gift can translate into a recipient valuing and appreciating the item. This encourages the feeling of reciprocity and subsequently, increases brand loyalty and encourages repeat purchases. Generally handled by the marketing department, gift-giving can boost a brand’s clientele and revenue.
5. Motivate Prospects
If you have an eye on prospective customers, occasional gifting can motivate them to become your customers. Personalised experiences remind customers of your brand’s existence. If the potential client was simply led to your company webpage by some backlink, their contact information may get tracked and help you with the gifting process. You can entice the person by gifting them some product samples. A well-timed gift with an announcement of special offers or discounts can encourage purchase.
Giving gifts can foster a feeling of belongingness and connection. These feelings can translate into the quality and quantity of work your employees deliver and how the clientele perceives your company. External stakeholders may feel encouraged to invest in your business with regular reminders in the form of gifts.