According to Forbes, corporate gifting is a $125B industry. That’s billion with a B! The practice of establishing touchpoints with employees, prospects, existing customers, or potential clients through the use of unique yet practical and useful gifts is known as corporate gifting. Corporate gifts not only help in building substantial, long-term relationship of your company with its customers and employees but also a perfect way to show appreciation and gratitude.
Receiving gifts is a potent dopamine inducing event, and that enormous $125B market cap proves that many organizations are leveraging this compelling rapport-building strategy. The receiver of the gift feels positive associations towards the giver. This intense psychological trigger should be enough reason to add corporate gifting in your marketing strategy, but here are three reasons why you should consider corporate gifting:
Gifts reinforce your brand. By gifting, you are letting your customers know that your brand stands for relationships, kindness and friendship. Most corporate gifting services allow customizations. Your brand logo on the gifts will make your client associate feelings of warmth to your brand. Check out our custom corporate bags that can have your logo on it.
Keeps the conversation open
Imagine sending a care package to 500 of your corporate clients. These clients may not have ordered anything from you in the last six months due to the uncertain business environment. The care package you send now will be sitting on 500 desks for the next few days perhaps weeks. As the economies around the world are opening, demand will come back with a vengeance. When this happens, your brand will be at the top of their head and highly likely you will get those orders.
Stand out from the crowd
You aren’t the only business your customer works with, and you sure aren’t the only business sending quotations to your customer. But that shouldn’t stop you from trying to be your customer’s favorite vendor. A report by Outbound Engine shows that generally a 5% customer retention can lead to a whopping 25% increase in revenue for most businesses. Data also shows that existing customers spend more. Sending gifts is the perfect way to distinguish your business as a preferred partner.
Many large manufacturers operating in the 2 tier FMCG distribution model have been using the corporate gifting strategy for years. The manufacturer usually sends corporate gifts to the distributor’s 1000 or so employees every quarter. This strategy helps the manufacturer create a feeling of positivity with all of the distributor’s employees. The distributor, in turn, places more orders for the manufacturer’s goods and services.
Finest Nimble has worked with well-known organizations like Facebook, Shopee, Twitter, Singtel, GovTech and Singapore Police Force, to name a few. Their customer reviews speak about the impeccable service delivered by the Finest Nimble team.