Corporate gifts are a powerful tool for solving many business problems and a great way to establish and grow your business relationships, no matter whether it’s with your employees, customers, or suppliers.
However, if you’re new to corporate gifting, it can be an overwhelming task to navigate. In our guide, we will explore the core reasons behind corporate gifting and shed light on the best ways of choosing something for all your corporate stakeholders.
What are Corporate Gifts?
Corporate gifts are defined as any type of gift that has been given by a company. A clear distinction between regular gifts and corporate gifts is that the latter can fall under the marketing mix.
From a business perspective, corporate gifts allow you to improve brand awareness, introduce new products, and increase your customer base. However, in addition to external marketing, corporate gifts are a kind gesture that expresses gratitude and respect for colleagues and business partners.
Who Buys Corporate Gifts?
According to a recent study conducted by a global research firm, it was found that over half (60%) of corporate gifts were bought for clients and external partners, while two-fifths (40%) of companies spent it on internal stakeholders and employees.
Corporate gifts are primarily bought by senior executives for their partners and subordinates however this is not a fixed rule. There is nothing that stops juniors of the company to also express their feelings by buying their colleagues and clients gifts.
Why are Corporate Gifts Important?
Another study found that corporate gifting has a clear value proposition for employees’ well-being and motivation to work. But first, we need to distinguish corporate gifting. There are internal corporate gifts, which are gifted primarily to colleagues, and then there are external corporate gifts which look to:
- Increase the loyalty of existing customers and help attract new ones
- Increase brand awareness through the presence of a logo
- Expand the reach of the target audience
- Reduce advertising spend
To give perspective on the importance of corporate gifts, it was found that the UK corporate gifting market was valuated as £78.3 million. Companies across multiple industries clearly indicate that this is an area worth investing in for its internal and external benefits.
Corporate Gift Ideas
Corporate gifts will always be different depending on the recipient and occasion. Generally, popular ideas include personalised items, concert tickets, training courses, merchandise, souvenirs, monetary rewards, or coupons.
The main rule when choosing a good gift is its relevance. For your gift to be not only spectacular but also effective, you must first understand the target audience, their interests, and your objectives. The key to a successful corporate gift will be its thoughtfulness and attention to detail.
Corporate Gifts for Employees and Colleagues
With the help of a gift, you can convey the values and ideologies of your company to new and old employees. For example, if you adhere to the principles of environmental friendliness, then a gift can be made from natural raw materials.
A universal corporate gift, both for newcomers and for established companies, will be products with company symbols. It can be a branded gift such as office stationery, mug, pen, flash drive, keyring, or calendar. But be careful, ensure that you understand the employees first, and provide a gift that resonates with their character.
Corporate Gifts for Clients and Business Partners
Every person deserves respect and attention. To demonstrate this, companies use branded gifts, which should be useful, original, functional, and, most importantly, memorable. This is a gift designed in the style of the company, with the obligatory presence of a business card or company logo.
These types of gifts, original in their nature while keeping the style of the company speaks of the success of the business and its reliability. Due to this, the loyalty of partners increases, because every person is pleased when they are remembered, taken care of, and given attention.
Corporate Gifts from Laser Crystal
By no means is this there a fixed or exhaustive list of corporate gifts. Companies must realise that each gift is different and completely dependent on the industry they are operating in, and the people that they are gifting to.
We understand that this can be a difficult process to manage but after reading this guide, we hope that you have gained some clarity on its benefits, and how to choose the right gifts for internal and external stakeholders.
Here at Laser Crystal, we offer bespoke corporate gifts that may be the perfect solution in your search for a corporate gift.