The Ultimate Guide to Corporate Gifting in 2023
Businesses in the corporate world are embracing new strategies to offer competitive edges to similar players in the industry. Among the many developments made, corporate gifting has been critical in the growth of multiple brands. This approach has had a tremendous impact on companies that have adopted it. So, what is corporate gifting, and how can it be facilitated?
What is Corporate Gifting
Corporate gifting is the art of sending people gifts from your business. Gift recipients can be employees, customers, clients, prospects, or vendors. In some cases, companies extend the gifting to families of the same individuals.
As a business, you can send a corporate gift just because. However, other reasons why you might give corporate gifts include the following;
Welcome gifts for new members
Corporate gifts can be simple, from gift hampers to notebooks, pens, treats, or cards. They don't have to be mega gestures, just something manageable but of great significance.
How Corporate Gifts are Good for Business
Despite taking from the business, corporate gifts can be beneficial to the course. They are meant to give thanks, celebrate, or welcome individuals who contribute to the thriving of your business. As a good gesture, the art of corporate gifting is excellent for business. Some of the advantages of giving corporate gifts include the following;
Build relationships – Corporate gifting can be used to build relationships with the different players in your business, especially during corporate events. This is meant to create a connection among the people who help your business thrive.
Inspire and motivate the team – Corporate gifts can motivate your employees to do better or congratulate them for work well done. They can further inspire them to do better to meet business goals.
Encourage prospects to become your customers – Corporate gifts can be a marketing strategy to draw and convince prospects to become your customers. The best corporate gifts for such goals are branded accessories and clothing showcasing your brand.
Key Points to Note about Corporate Gifting
Before jumping into corporate gifting, there are a few nitty-gritty that you ought to know. Some of the considerations before launching a corporate gifting program include;
Gifting policies and strategies – Corporate gifting should be regulated with policies to ensure you handle the programs well. There should be a clear strategy on how you’d carry out the procedure to help you in facilitating it.
Clients’ restrictions – While sending them isn't an issue, some clients are restricted from accepting corporate gifts. This is often common with government employees or individuals in high positions of power. It's essential to check in with the recipient to ensure the gifting will be allowed.
Tax implications – In some cases, sending corporate gifts can be subject to tax deductions. However, this depends on the type and value of the gift. It's important to conform to the taxation laws in your local before moving forward with a corporate gifting program.
Corporate Gift Rules
Now that the basics are covered, let's check out a few corporate gift rules you can use for your program. These basic principles should guide you through your corporate gifting course. Some of the corporate gift rules include;
The Brighter the Blossom, the Better
Flowers are the one-shoe-fit-all corporate gift, especially if the receiver is a lady. This is because flowers draw emotions, and they aren't the type to be easily forgotten. Furthermore, giftees are most likely going to vase the flowers and keep them fresh for a couple of days to remember the gesture shown to them by the giver.
There are multiple types and colors of flowers to choose from. Be sure to research the different meanings of flowers to be able to select the right ones for your recipient. This is to avoid any mixed signals or to miscommunicate with your receiver. There are standard corporate gifting rules for flowers, such as knowing when to send boxes or bouquets.
Hampers and Bundles are the Way to Go
Gift hampers and bundles are known to be the best alternatives if you’re looking to gift a single individual. This approach is best for personal achievements or individual awards. This basic rule is meant to save cash for corporate gifts, as you only have to give one or several bundles to a few individuals.
Gift hampers can be packed with multiple things. It’s best to have a clue of the top preferences of your recipient to nail the gifting. You can have luxury gift baskets decorated with balloons and ribbons, where you can fit in a few things to appreciate or congratulate your recipient.
You Can Never Go Wrong with Baked Foods
Baked foods are the most preferred edibles for corporate gifts. Cakes, cookies, muffins, or other baked foods can come a long way. Consider the flavors and type of baked foods you'd go for, as it might make a difference.
For mega gifting, a corporate cake would do. This should have your brand printed or engraved to denote that it comes from you. For individual or group corporate gifts, you can decide on other dessert options depending on the recipient's tastes.
Treats Always Go a Long Way
Many things might pass individuals, but it's hard for people to forget the treats gifted to them. Treats are like small wins, and they are simple yet so significant. They are the best alternative for companies that find it hard to choose corporate gifts for their employees or clients. This is because they can be given to just about anybody regardless of their differences.
Chocolates are the go-to solution for corporate treats. They are simple to hack, there are broadly accepted flavors, they can be in various sizes, and they can be customized to meet customers' needs. They present the best alternative for corporate treats for first-time gifting programs.
Personalization is Key
The most crucial consideration while doing the entire gifting gig is the personalization of your gesture. Doing a simple background check of the preferences of your recipient, especially for individual corporate gifts, will be instrumental in the impact of your gesture.
For instance, printing or engraving the name of the recipient on the gift and getting something that the giftee has been desiring or lacks will draw emotions which is the whole point of gifting. Granting the receiver satisfaction is all it takes to make a difference.
There are basic information and rules to corporate gifting. They help businesses facilitate their gifting programs to achieve their desired goals with such programs. It is important to consider the basics and be attentive to the details to meet your recipient's expectations. Reach out to BloomingBox for all your corporate gifting needs.