Corporate gift giving is a marketing strategy that has been used by companies for decades. Showing a company’s appreciation with a gift to their clients, employees and prospects generally achieves an outcome of some description, however to often corporate gifting is done by company’s without any particular strategy at all.
We’ve put together some strategies you can consider to get the most out of your corporate gifting efforts or maybe consider adopting corporate gifting as a new marketing strategy in your business.
Tell a story about your brand through creative gifting that takes your promotions from gimmick to strategy.
Often generic gifts are thrown aside by prospects seen as purely a promotional stunt to get their business. If you can come up with creative ideas for your client gifts they can elevate your chances of winning their business in the future. Gifts can be a way to communicate your point of difference to your competitors, your company ethos and culture or you could get really creative and personalise each gift to your prospective client.
In a world of impersonal digital communication, corporate gifting will generally achieve a 100% open rate as opposed a general average of 10-20% who will open your email marketing campaigns. Also there is a lot higher chance they will answer your next phone call or better yet, they’ll call you.
In these instances it’s important to watch how much you’re spending and consider your cost of acquisition per customer. As with all marketing strategies measuring the results will only allow you to see what works and what doesn’t so you can keep doing what’s working for you improving your return on investment.
Increase engagement of your best performers by recognising special occasions in their lives showing employees you care. In most company’s it’s pretty common that their fellow colleagues will pass around a hat for a milestone birthday or if their team mate welcomes a baby into the world. The question is, what is the company doing to recognise these occasions for employees? It’s an easy win.
There are many studies that show employee recognition whether personal or performance is known to boost your company culture. Keeping your employees happy means they are more motivated to work for you therefore produce better results.
To make it clear “employee recognition” this doesn’t mean their competitive salary, cash bonuses or share options. These are entitlements. Employee recognition is about the genuine gratitude shown to employees for their behaviour and attitude, it can be used to bring a team together to celebrate a personal achievement which is an acknowledgement they are a valued employee.
By recognising your employees they instantly feel appreciated, then motivated, then perform better, then get better results. Simple.
Three reasons to send gifts to your existing customers:
- Show your gratitude to key customers and boost repeat sales.
- Ensure your customers stay engaged with your brand. They know who you are.
- Enhance relationships which will help you reach more referrals.
Boost repeat sales.
Depending on your type of business and how your customers buy from you will depend on what strategy you’ll take when sending gifts to your current customer base. It’s a known fact that if you actually thank your customers for their business they are likely to buy from you again. Retention and/or repeat sales is the key here. Let them know you appreciate their business and they’ll likely come back for more.
Keep them engaged.
Engagement with a brand, again depending on the type of business you have, may drop off after a sale has been done. You want to keep your clients engaged with your brand firstly so they don’t get distracted by the shiny things your competitors are offering and secondly so you’re top of mind in conversation with “other people” you haven’t met yet – referrals.
You need to be constantly enhancing your relationship, if they like you they’ll keep buying from you.
Grow with referrals.
Referrals are often the main strategy for a business to grow, rewarding your best referrers is the key to getting more referrals.
It’s a known fact that the strike rate on prospective clients that have been referred to you by a trusted source may be up to 3x higher than cold leads. It’s important to know who is referring business to you, how successful you are in winning their referred leads and thanking them for their continued efforts on growing your business.
Showing your gratitude to your referrers is not only a nice thing to do, it will continue to keep your company top of mind so that your best referrers will keep referring and growing your business.
As this holiday season approaches, think about how you can show your clients, partners and employees that you genuinely appreciate them and don’t be afraid to make it creative with something that reflects your brand image.
If you’d like to know more about how Gladys can help you with corporate gifting, download Gladys Mack’s Corporate Gift Guide here or get in touch.