Business gifting is vital in developing and maintaining relationships with clients, customers, employees, partners, and vendors. When done thoughtfully and strategically, gifting can be a potent tool to build rapport, show appreciation, and create goodwill.
However, navigating the world of business gifting can be tricky. There are a lot of etiquette rules to consider, and it’s essential to ensure your gifts are appropriate and meaningful.
This guide covers everything you need to know about business gifting, from how to choose the right gifts to the etiquette rules you should follow. By the end, you’ll be an expert on business gift-giving!
What is Business Gifting?
Business gifting is the practice of giving gifts to clients, customers, employees, partners, and vendors. The nature of the gifts can vary, but the primary intention of offering the gifts is to build rapport, show appreciation, or create goodwill.
You can practice business gifting for various occasions, such as holidays, anniversaries, business milestones, or to say thank you. You can also offer gifts as part of brand promotional products for a campaign or brand awareness effort.
Benefits of Business Gifting
Business gifting has many benefits, both for the giver and recipient. Let’s take a look at some of them.
Helps Build and Maintain Relationships
Gifting is a thoughtful way to show appreciation for someone, and it can go a long way in building and maintaining solid relationships. In fact, studies have shown that giving gifts makes people feel closer to the giver and more likely to reciprocate in the future.
For instance, if you’re trying to build a relationship with a new client, a thoughtful gift can help break the ice and make them feel appreciated.
Similarly, if you want to maintain a strong relationship with a valued customer, regular gifts can show them that you care about them and value their business.
Of course, it’s essential to ensure your gifts are appropriate and not too expensive. Otherwise, you risk coming across as insincere or trying to buy someone’s affection.
Boosts Morale and Motivation among Employees
Employees who feel appreciated are more engaged and productive at work. In addition, studies show that regular recognition of employees encourages them to stay in companies for longer.
One way to show your appreciation for employees is through gifting. For example, you could give holiday bonuses in the form of gift cards or promotional product packages. Or you could create brand promotional products for employees who go above and beyond their job descriptions.
Not only will this make your employees feel appreciated, but it will also boost morale and motivation levels among your team. And that can only be a good thing for your business!
Creates Goodwill and Strengthens Brand Image
Business gifting can create goodwill and strengthen your brand image when done thoughtfully.
For instance, if you’re launching a new product, you could send brand promotional products to clients and customers to generate buzz. If you’re sponsoring a charity event, you could give brand promotional products to participants.
By giving gifts aligned with your brand values, you can create a positive association with your brand in the minds of your recipients. And that can only be good for business!
Increases Brand Awareness
Business gifting is also a great way to increase brand awareness. For example, when you give promotional product kits, such as pens, or branded t-shirts, your recipients will see your brand name every time they use the products.
And that can lead to more brand recognition and sales down the line.
Happy customers are more likely to refer your business to their friends and family. And one way to make sure your customers are happy is by gifting them.
For instance, you could send promotional product packages to new customers to say thank you for their business.
You could give promotional product kits to longtime customers to show your appreciation for their loyalty. This increase the chances that they’ll refer your business to their friends and family
Types of Business Gifts
Now that we’ve gone over the benefits of business gifting, let’s take a look at some of the best gifts to give, depending on your audience.
One of the best ways to use business gifts is for marketing purposes. For instance, you could send promotional product packages to customers and clients to generate buzz for a new product launch.
You could give promotional product kits to participants in a charity event you’re sponsoring.
By giving gifts that align with your brand values, you can create a positive association with your brand in the minds of your recipients. Marketing gifts are a sure way to grow your business.
Another great way to use business gifts is to show your appreciation for employees. For instance, you could give holiday bonuses in the form of gift cards or promotional product packages.
You could create promotional product kits for employees who routinely show their dedication and interest in supporting your business.
Not only will this make your employees feel appreciated, but it will also boost morale and motivation levels among your team. Morale and motivation are crucial for retaining employees.
A corporate gift is a business gift given to employees, clients, or customers of a corporation. You can give corporate gifts to your employees, customers, or clients during the holiday season.
Still, they can also be provided for other occasions, such as Employee Appreciation Day, or to commemorate a milestone achievement.
Corporate gifts are usually more expensive than other types of business gifts, but they can be a great way to show your appreciation for employees, clients, and customers.
Finally, don’t forget about your customers! One way to show your appreciation for their business is by gifting them. For instance, you could send brand promotional products to new customers to say thank you for their business.
You could give promotional product kits to longtime customers to show your appreciation for their loyalty. When customers feel appreciated, there is a good chance they’ll refer your business to their friends and family.
How To Give the Perfect Business Gifts
Now that you understand the different types of business gifts, you should understand the best time and ways to present these gifts. While gifts are always welcome, timing is also of the essence.
Consider the Recipient
The first step in giving a business gift is to consider the recipient. What type of relationship do you have with the person? Are they an employee, a client, or a customer?
What are their interests and hobbies? For example, if you’re giving a gift to an employee, you might want to consider something that will make their job easier, such as a notebook, a pen, or a meal card.
If you’re giving a gift to a client, you might want to consider something that aligns with their interests. And if you’re giving a gift to a customer, you might want to consider something that they can use in their everyday life, such as a backpack or a water bottle.
Consider the Occasion
Is it a holiday? A birthday, an anniversary, or is it “just because”? The occasion will help you determine what type of gift to give. For instance, if it’s a holiday, you might want to give a festive gift like a holiday mug or a holiday-themed promotional product kit.
If it’s a birthday, you might want to give a more personal gift like a gift card or a piece of jewelry. And if it’s “just because,” you might want to give a practical gift like a coffee mug or a travel mug.
Set a Budget
Once you’ve considered the recipient and the occasion, it’s time to set a budget for your gift. How much are you willing to spend on the present? This will help you narrow down your options and choose the perfect gift for your needs.
Choose the Right Gift
Now that you’ve considered the recipient, the occasion, and your budget, it’s time to choose the right gift. There are many different types of business gifts to choose from, so take your time and choose something that you think the recipient will love.
For example, if you’re looking for a gift for an employee, you might want to consider something like a gift card to a local restaurant or a free ticket to see their favorite sports team.
If you’re looking for a gift for a client, you might want to consider something like a brand-promotional product like a tote bag or a coffee mug.
If you’re looking for a gift for a customer, you might want to consider something like a promotional product package or a promotional product kit.
Business gifts are a great way to show employees, clients, and customers appreciation. When choosing a business gift, be sure to consider the recipient, the occasion, and your budget.
Finally, and most importantly, choose something you think the recipient will love. With these tips in mind, you’re sure to find the perfect gift for any occasion.