The value of corporate gifting
Business in 2019 is all about good working relationships. Building solid and long-lasting business relationships requires effort, time and good communication. Corporate gift-giving is a highly valuable business practice, which has been identified as a key to success by many leading global brands. Corporate gifting should not be a question, but rather be an integral part of your business. We have put together a quick guide to corporate gifting:
Why Corporate Gifts?
The value of corporate gift-giving goes far beyond just saying thank you to a client or business partner. A gift is a sign of appreciation and it can substantially build your brand, increase productivity, boost morale, better relationships, be team-building and potentially reward your business ten-fold. Creating a lasting impression will not only keep your business in mind, but you could even create fans who won’t mind creating positive impact for your business. Don’t underestimate the power of word-of-mouth. In some countries such as Japan, large sums are often spent on corporate gifts and it is an integral part of business culture.
Internal and external corporate gift-giving
Corporate gifts can be beneficial both internally, such as individuals and groups of your own staff, as well as externally with clients, business partners or partnering companies. Identifying your individual objectives behind corporate gifting will help you determine how to best go about it.
When is the best time for corporate gifting?
There is no rule of thumb when the best time is to give a corporate gift. Whilst there are many seasonal opportunities such as Christmas and other holidays, there is also plenty of reasons why you should make corporate gifting a year-round matter. Whether it is birthdays, business milestones, openings, successful deals, photoshoots, product launches or anniversaries; a gift goes a long way and will always be highly beneficial.
Choosing the right gift
Choosing the perfect corporate gift is essential. Start by setting clear objectives as this will help you to determine your approach. Next set a budget, this will ensure that the process remains economical. It is absolutely vital to decide for a gift that is appropriate. Too cheap and the recipient may not appreciate it, or it could even reflect negatively on your brand. Too expensive or outrageous and it may come across the wrong way. This is also important with internal-gifting, with many considerations to be borne from what is appropriate, what could be misconstrued and what is in accordance with business ethics. Stay away from gifts that are clustered with your own branding; this is not a branding exercise and it will most likely land in the bin. Instead choose a purposeful gift that reflects the image of your company and that creates a positive association with your brand. Gift-experiences such as get-aways could bring people together and are great for internal gifting. Whether they be senior-management or apprentices; it allows for bilateral understanding and creates room for the development and sharing of ideas and skills. In this fast-paced Hallmark age, personalising your gift with a hand-written note will be much appreciated and go a lot further than just a print with a signature. Quality long lasting gifts suit about every situation and will create ongoing positive effects.
In some countries corporate gifts are tax-deductible. In others there may be limitations, or it is not tax deductible at all. It pays to check with your accountant and individual government tax agency.
Lyttelton Lights makes corporate gifting easy! Enjoy great discounts, a selection of luxurious products, timely personalised service and a solution for every budget.
Contact us today to discuss your individual requirements, we are happy to help!
Over the years we have helped large law-firms, port companies, insurance companies, airports, electricians and small businesses alike, only to name a few.
Let us help you achieve the same positive impact.