Gifting as a Marketing Strategy
In today’s competitive business environment, companies must find innovative ways to differentiate their products and services from those of their competitors.
One way to achieve this is by implementing a gifting strategy as part of your marketing efforts. Gifting can be used to increase customer loyalty, build relationships with customers, and create a positive impression of the company.
Why not make gifting part of your marketing strategy for the year ahead?
What are some benefits of gifting for businesses?
Build relationships and goodwill
Gifting is an effective way to build relationships with customers, prospects, and partners. By giving thoughtful gifts on special occasions or ‘just because’, you can show your appreciation and demonstrate you care about the relationship. This can lead to repeat business and brand advocacy.
Increase brand visibility
By sending gifts to customers, prospects, and partners, you can create positive associations with your brand and remind them of your products and services. This can lead to increased sales as people are more likely to purchase from a company they’re familiar with.
Increase customer loyalty
Gifting can be used as part of a loyalty program to reward existing customers for their ongoing business and referrals. Hopefully, this encourages them to continue buying from you!
As a result of the above, gifting can actually generate ROI – and create walking talking billboards for you and your business. To be most effective, we recommend putting thought into the needs and preferences of your customers to ensure meaningful gifts.
Rewarding your employees with gifts can also be beneficial
Gifting not only does it show your appreciation for their hard work – it can also create a positive and productive workplace culture.
Showing appreciation through small and meaningful gifts can boost your employees’ morale. It can be a powerful incentive tool in the workplace – and be included in your overall rewards and recognition strategy.
What makes a good gift?
A good gift should be thoughtful and personal, as well as relevant to the recipient. The quality should also match the relationship between the gifter and receiver. Quality gifts convey an appreciation for the person receiving them and can help build relationships.
When considering what type of gift to give, consider their interests, hobbies, lifestyle, or profession. This will allow you to tailor your gift accordingly. It’s also important to remember the presentation of a gift can be just as important as the gift itself, so make sure it’s presented in an appropriate and thoughtful manner.
How much should I spend on a corporate gift?
The amount you spend on a corporate gift depends on the type of relationship you have with the recipient.
If you are looking to build a long-term relationship, a more expensive gift might be appropriate. However, if the gift is for a one-time customer or prospect, opting for something more affordable is better.
It’s important to remember the sentiment behind the gift is often more important than the cost.
Getting help with your gifting strategy
If you need help with your gifting strategy, there are various companies that specialise in corporate gifts. These companies can assist you with choosing the right gifts, as well as offer advice on how to maximise the impact of your gifting program. Additionally, many of these companies also offer services such as customisation and personalisation, which can make them more meaningful and memorable.
If you’ve been looking to explore a gifting strategy for your business, we recommend getting in touch with our August 2023 Business Lunch sponsor, Gift Linx, who can help you tailor your gifting strategy to your budget, client, and employee needs.
Visit their website here – https://giftlinx.com.au
Author: Kerrie Sheaves
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