Top 9 Reasons to Give Gifts for Business
No matter how small the item, a thoughtful gift can be an impactful way to show someone you appreciate them. And for businesses, it can be a powerful way to build relationships.
Here are 10 of the best reasons why your business should consider having a corporate-gifting program.
1. Show gratitude and appreciation
77% of workers who were corporate gift recipients agreed that receiving a gift made them feel appreciated. Your employees will appreciate thoughtful gifts showing you’re grateful for their contribution. Gifts for employees can be used to reward teams and individuals for project outcomes, and they can be used to mark special occasions like birthdays, anniversaries, and special milestones.
This could lead to stronger loyalty, higher likelihood of staff members staying with you for longer, and greater levels of motivation. For your business, these could translate into productivity gains, lower turnover, and better morale and company culture.
Business gifts are a great way to also show your appreciation to everyone else who helps make your business grow. This can be customers, valuable business partners, when a supplier does you a favour, etc. Gifting can be an opportunity to acknowledge their contribution, show your gratitude, and strengthen relationships.
2. Retain customers
Acquiring a new customer can cost anywhere from five to 25 times more than what it costs to retain existing customers. So focusing on your existing customer base and building stronger bonds could be a more cost-effective way to grow your revenue. By giving quality corporate gifts, you could encourage customers to keep coming back.
3. Generate goodwill
When gifted something appealing, it’s natural for you to have positive feelings about the giver. The right type of corporate gift could generate goodwill, whether you’re celebrating special holidays like Christmas, recognising an important milestone for a client or employee, or giving a welcome gift to a new client. The act of gifting could strengthen bonds, personalise and deepen your relationship, and build trust and loyalty.
4. Strengthen reputation and brand
Corporate gifting could be a highly effective way to boost your brand and reputation. Since you’re usually expressing your appreciation without a sales message or asking for anything from clients, you can subtly build a sense of trustworthiness while enhancing your relationship with the customer.
5. Create a shared journey
Corporate gifts help mark important milestones and create a sense of having a shared journey with your customers, employees, and partners. For example, it’s common to gift at the end of a successful project, to celebrate an employee’s promotion, or to mark a special achievement like acquiring a major client. You can use gifts to welcome new clients, to show employees you care on their birthdays, and to celebrate holidays and festivals.
With the right gift, you could generate positive emotions and help create the sense you’re on a journey with the recipient. In turn this could build stronger relationships for your business.
Download our guide to corporate gifting occasions to ensure you never miss another special occasion.
6. Build loyalty
Showing your appreciation with a business gift can help you subtly showcase your organisation’s identity and values, and build a client/customers loyalty to that identity.
A well-considered gift complete with a personal message can demonstrate to the customer that your business values its customers and is generous towards them. At the same time, you’re keeping your business top of mind with customers, generating a positive association, and even building brand loyalty.
7. Enhance partner relationships
Don’t overlook the value of gifting to service providers and vendors. These valuable business partners answer all your questions, work to tight deadlines when you’re time short, and ensure a high service or product quality.
An annual gift and/or a gift after a major project expresses your appreciation. It could encourage them to keep going the extra mile for you and make contract negotiations easier. Make sure you’re complying with any gifting policies they might have relating to conflicts of interest.
8. Make your business stand out
If you take the opportunity to show clients you care when they don’t expect it, you can make your business stand out and differentiate your band by doing something your competitors might not be doing. This helps keep your organisation at the top of client’s minds, which in turn can drive higher sales and keep your customers coming back over the long term.
9. Reward for referrals
If you reward your customers and top brand advocates for valuable referrals, the chances are they’ll be happy to continue recommending your business to others. Some customers might be happy to help boost your sales with word-of-mouth “advertising” based on the quality of your product or service. However, you can further encourage them with personalised gifts to show your appreciation.
Business gifts are effective ways to strengthen new and existing relationships. They communicate generosity as a brand value and help you express your appreciation for your customers, employees, and suppliers. By giving thoughtful, quality gifts, you’re investing in one of the most important assets you have as a business: your relationships.
Gourmet Basket has been delivering happiness in the form of delicious, exquisite gourmet baskets for more than 20 years. Why not make an impact by giving a gourmet basket as your next corporate gift? Explore our corporate gifting options here.