Last Updated on November 28, 2022 by Faiza Murtaza
Corporate Gifts is the practice of creating a touch point with employees, customers, or prospects through the use of gifts – whether a physical item such as a practical swag piece, a dinner party, or a personal clothing item, or a non-physical item. Giving as a gift such as an e-gift card or experience (such as airfare or concert tickets).
Why is corporate gift important?
Receiving a gift is a powerful experience. It creates a sense of connection with the giver and can lead to a positive attachment to an individual or brand. Companies and marketers have long relied on the power of gifting to secure better relationships with potential and existing customers, when used as part of your overall marketing or employee retention efforts. Define your business. In terms of ROI and satisfaction.
The Psychology of Corporate Gifts
The effectiveness of gift giving is related to the psychological effects it has on the recipient. If you have ever received an unexpected surprise or treat (in person or by direct mail) then you have personally experienced this event. This is partly because physical contact with the gift results in a dedicated effect – a sense of ownership over something that makes a person value it more, such as a study on the effects of gift giving on business outcomes. It also affects feelings of mutual trust and confidence. This effect can be seen in the results of marketing and gifting in many common scenarios.
Business gifts can encourage people who aren’t yet your customers. In fact, according to InstaPage, 80% of users say they are more likely to do business with a company if it offers a personalized experience. Sending the right gift at the right time can motivate prospects to take action, such as completing a purchase, signing up for a service, or calling a discovery.
Consumers can also benefit from timely gifts. It can tell them that their business is valuable, motivate them to continue serving you or become a brand evangelist, and has the power to bring your company back to the forefront in cases where It’s been a while. According to a retail study, consumers who are emotionally attached to a brand have a 306% higher lifetime value.
Consumers and prospects are not the only ones businesses need to consider. In many cases, the key to good customer results starts very close to home. In fact, one study found that 57% of people claim that they feel more valued than receiving mail. This statistic is directly related to mail gifts. However, if you’ve ever been a recipient of well-branded, high-quality apparel, you know that it can work for your employees as well.
These sentiments reflect employees’ own roles and the quality of services provided to external stakeholders, customers and prospects.
- Personal events: New family member or personal milestone, completion of a certificate or degree program, new home, or other personal accomplishments.
- Company events: years of service, milestones, service level recognition, or completion of industry-specific training programs that advance their skills.
- Special Identity: Reward examples where an employee saved a day or made an extra effort to achieve a business goal or help a co-worker.
As these predictions and studies show, the overall importance of giving corporate gifts to your internal and external recipients becomes clear. Reviewing the above statistics and trends can help marketers, sales teams, human resource personnel, and others create highly effective corporate gift giving strategies and campaigns to help steer your business in the right direction. Using a sending platform to automate the process and understand the data can make these steps more efficient.