Corporate gifts are an important marketing communication tool. In a corporate environment, giving a gift can be a double-edge sword. If used in the right manner, they can provide the company with a valuable means for strengthening relationships with its key customers and employees. It can help build goodwill, foster new relationships and promote the company’s business. A well timed and appropriate gift is the best way of conveying the important message that a relationship matters.
Giving a gift is a complicated thing and in itself is a form of art. Gifts and incentives are generally perceived as sales promotional tools. However a gift should still be used as an integral part of the marketing communication to ‘complement and support other promotional activities. Verbal communication is often forgotten but gifts with your company’s logo on them form a reminder. They may help shift a business decision in your favor. Companies are now increasingly becoming aware of the importance of developing and maintaining long-term relationships with their customers. Corporate gifts can provide the right amount of motivation to your customers.
A corporate gift can range from anything from as humble as a stationary to as elaborate as an all inclusive Hawaiian holiday for two. The type of gifts to be given is limited only by the imagination. A gift is more of a corporate gesture in recognition of business conducted or as a way of business to business promotion. Give-aways are the first category. These are mostly low value, high volume items that are used mainly to promote a company’s name. The second category of gifts is the standard gifts. These are most suited for occasions of gift giving and cover a range of prices. They achieve a higher perceived value and are presented in a personal manner. The final category is the luxury gifts. They are high value, low volume corporate gift singapore items that address an individual and carry prestige often based on strong brands.
In the past, the main and only focus of corporate gifting was on sales promotion. In the last few years, there has been rapid growth with regards to corporate gifting. It is very difficult to quantify the corporate industry as many organizations do not have a budget specifically allocated to such promotional activity. However, the increase in corporate gifting market share is definitive.
Corporate Gifting, the perfect marketing tool is here to stay. Its use helps break the restrictions imposed by corporate dealings and contributes to building effective relationships. Make corporate gifting as an integral part of your organization’s marketing strategy and see the difference it makes to your business.