Corporate Gifts: Do They Work?
Does Corporate Gift Giving Turn Into Sales?
Gift giving can actually be something of a minefield, and there are several things to consider when giving gifts in the corporate world. Things like budget, type of gift, the recipient’s industry, and the recipient’s relationship to the gift giver will all play a part in determining the gift.
In recent years, while the economy was recovering from the economic downturn, corporate gift giving decreased. But recent studies show that it is back on the rise, making it a perfect time to discuss some of the details surrounding corporate gift giving. And to ask the ever important question: Does corporate gift giving work?
Customers & Clients Get The Most Gifts
First, let’s unpack some statistics behind gift giving. As mentioned, the good news is that corporate gift giving is up: spending on corporate gifts has increased to 27.4 percent from 20.6 percent in 2015. Also increasing is the frequency of gift giving—up nearly 37 percent from two years ago.
Topping the list of type of gift is gift cards, followed by apparel, then office accessories, electronics, food, writing instruments, and entertainment. And who most often receives the gifts? Customers and clients get the most gifts, then employees, prospective clients, suppliers, and stockholders.
Here’s a Sample of an Employee Recognition Gift we made for our team!
Corporate Gifts: Do’s & Don’ts
As to when and what is considered appropriate, the following will cover some basic Do’s and Dont’s.
Gifts can be received in a range of ways, as a gesture of thanks or appreciation to something a bit more nefarious like an incentive. Some industries like financial services, insurance, retail and medical fields have policies banning all gifts—both giving and receiving.
Another definite “Don’t” is to give gifts during a bidding process. Also be aware of how lavish the gift is. Not only might the gift be received with certain misconceptions, there are also legal caveats to consider.
Therefore, if and when it is appropriate to give a gift should be carefully considered. If you have determined that indeed, the gift will be given and received in good faith, here are some definite Do’s.
Think about the recipient’s unique personality. This might pertain to their business or to a hobby or interest they may have. Also consider things to avoid — if you don’t know them well, giving things like alcohol might come across as insensitive.
Make it special! Gifts lose some of their meaning if they are just another run-of-the-mill, generic thing that could have come from anyone or anywhere. One gift that would be sure to wow is our Corporate Custom Chocolate Gifts.
Keep it classy. Especially in the corporate world, cheap or tacky gifts will reflect poorly on the gift giver and will simply end up in the garbage bin.
So…. Does Corporate Gift Giving Work?
Finally, to answer the question: Does corporate gift giving work? We say, ABSOLUTELY (but only when it’s done right).
At Totally Chocolate, we truly believe that customized chocolates check all the boxes. We help our clients customize gifts for all occasions and for a wide variety of recipients. They are classy, interesting, unique, and of the highest quality. We can customize the product for the person giving or the person receiving.
If you are looking for the perfect gift that will be well received and greatly appreciated, browse our store for Unique Ready Made Chocolate Gifts or order some custom chocolate. Not sure what you want? No problem contact us and we would be happy to help you find the perfect Corporate Gift. Options are limitless and we would love to help create the perfect gift for you or your business, and for the lucky person receiving it.