Six Keys to Successful Corporate Gifting

Corporate gifting is big business in the US.   According to a Coresight Research study, the
corporate gifting market in the US was projected at $258 billion in 2023.  The same study estimates that this market will grow to 312 billion in 2025. 

In a survey conducted by the National Retail Federation, almost 50% of companies plan to give gifts to employees, and the same percentage planned to give gifts to customers and clients as well.  

With so many companies sending gifts, how can you ensure that your corporate gifting campaigns are meeting your objectives and delivering a return on your investment?

Corporate gifting has a long history dating back to the early days of trade and commerce. The practice of giving gifts to business associates and clients has been used for centuries to build and maintain relationships, show appreciation, and increase sales.

The origins of corporate gifting can be traced back to ancient civilizations, where gifts were often exchanged as a form of diplomacy and to establish alliances. In medieval Europe, merchants would give gifts to lords and kings to gain access to their markets and secure trade agreements.

During the Industrial Revolution, corporate gifting evolved to include the distribution of promotional items, such as calendars, pens, and other small gifts, to help promote products and businesses.

In the 20th century, corporate gifting became more sophisticated and diverse, with companies using gifts to show appreciation and build relationships with employees, customers, and partners. Today, corporate gifting is an established practice in many industries, and companies of all sizes use gifts to build stronger relationships with clients and customers, increase sales, and promote their products and services.

In recent times, with the rise of e-commerce and online shopping, the gifting process has become more streamlined and easy to manage, with the help of corporate gifting platforms, and the possibility of sending digital and experiential gifts.

Corporate gifting can be used to achieve a variety of objectives, including:

1) Building and maintaining relationships with clients, customers, and partners: Gifting can help companies to build stronger relationships with their clients and customers by showing appreciation and gratitude.

2) Showing appreciation and gratitude to employees and team members: Gifts can be used to show appreciation for the hard work and dedication of employees, and to build a positive company culture.

3) Enhancing a company's brand and reputation: Gifting can help to increase brand awareness and build a positive reputation for a company.

4) Creating a sense of community and camaraderie among employees: Gifting can help to foster a sense of community and teamwork among employees.

5) Building loyalty and trust with customers and clients: Gifting can help to build trust and loyalty with customers and clients by showing that a company is committed to its relationships.

6) Helping to generate new business and increase sales: Gifting can help to generate new business and increase sales by building stronger relationships with clients and customers.

7) Providing an opportunity to promote a company's products or services: Gifting can be used as a marketing tool to promote a company's products or services.

8) Building morale and motivation among employees: Gifting can help to boost morale and motivation among employees by showing that they are valued and appreciated.

9) Building brand recognition and recall: Gifting can help in creating brand recognition and recall by providing a tangible item that is associated with the brand.

10) Recognizing achievements, anniversaries and milestones: Gifting can be used to recognize and celebrate achievements, anniversaries, and milestones, such as a client's anniversary of working with your company.

Corporate gifting campaigns can be a big expense for a company, so when starting a new campaign you should have a clear objective of what you hope to accomplish and how you will track the performance of your campaign.

Involve key stakeholders from your organization when determining your objective. Sending a gift may be only part of a bigger outreach campaign. For example, having a sales rep or account manager reach out to a client a week or two after a gift has been delivered to see if there is anything thing that they can help with can be a great way to increase loyalty and generate additional business.

The best time to send corporate gifts depends on the purpose of the gift and the relationship you have with the recipient. Here are a few general guidelines to consider:

1) Holidays: Holidays, such as Christmas, Hanukkah, Thanksgiving, and New Year, are popular times to send corporate gifts. These gifts can serve as a way to show appreciation and gratitude to clients and employees. To help your gifts not get lost with all of the other holiday gifts, consider sending your gifts before or after the busiest time of the holiday season. For example, a gift sent at Thanksgiving or in early January will not have to compete with all the other holiday gifts that your client, employees and partners might receive.

2) Special occasions: Special occasions such as birthdays, anniversaries, and retirements can also be good times to send gifts. These gifts can be used to celebrate and acknowledge an individual's achievements or milestones.

3) Business-related events: Corporate gifts can be sent in conjunction with business-related events such as product launches, trade shows, and conferences. These gifts can serve as a way to promote your company and its products or services.

4) Seasonal events: Depending on the type of business you are in, you might consider sending gifts related to the seasonal events (e.g. summer, winter, etc.).

5) Business milestones: You can celebrate your company's milestones such as a new office opening, a new product launch, or reaching a certain sales goal by sending gifts to your employees, clients, and partners.

6) Unplanned events: Some unplanned events might also be a good opportunity to send gifts, such as a client's success in a big project, or a new contract that was signed.

To maximize the impact of your campaign, send gifts when they are not expected and when your gifts will make the biggest impact.

Following the six steps to successful corporate gifting is the key to every successful corporate gifting campaign and will help you maximize your gifting ROI.

1) Define Clear Objectives for Your Corporate Gifting Campaign
2) Set the Right Budget
3) Select the Right Gifting Partner
4) Send Your Gifts at the Right Time
5) Select the Right Gifts
6) Avoiding Corporate Gifting Pitfalls

When done properly, sending gifts to clients, employees and partners
can be a valuable tool to help increase loyalty, build morale, drive sales,
build brand awareness, increase product awareness, and more.