Corporate Gifting Strategy
Corporate promotional gifts have been used as a way for companies to nourish their most important connections for a long time. Companies have always liked to show appreciation to their employees and business partners, and sending gifts is a good way to make that recognition apparent.
These gifts might be branded merchandise items, such as tote bags, hoodies, t-shirts, caps, and other everyday items. Alternatively, they can be more luxurious products such as leather cardholders, briefcases, or some brand-new tech that could be useful to the person you’re gifting it to.
Corporate gifting strategies and unique experiences have always been a driver of revenue for organizations. However, since the pandemic, this channel is now more impactful than ever for business communication. Clients, employees, and other businesses can build relationships at scale. With Offline Engagement, it has never been easier to customize and automate the gifting process.
The increase in corporate gift-giving has caused the corporate gifting industry to grow rapidly, but these gifting companies aren’t the only ones reaping the benefits. Other beneficiaries and their benefits include:
- Companies that give corporate gifts have loyal customers who are excited about engaging, which moves them along the sales funnel and ultimately increases profits.
- Employees who receive quality gifts from their employer are more productive and have higher work satisfaction.
- Companies connect with hard-to-reach, high-value stakeholders via customized gifts.
- Higher conversion rate for target accounts received by companies sending luxury or exclusive gifts.
Essentially, the gift-giving experience is different from other means of communication because it appeals to everyone with very few exceptions. Gifting campaigns can be designed to appeal to everyone, as those who don’t wish to receive the gifts can opt out. Making unique corporate gifts by personalizing or customizing them shows recipients that they are appreciated and valued.
In today’s hectic employment and business environment, being able to show appreciation and acknowledge value is a priceless commodity. That is why the gifting industry has been and will continue to be successful.
Businesses are filled with executives, professionals, tradesmen, support staff, and countless other people with various titles. However, they are all people, and they all want to make connections and form relationships. B2B gifting, in-house gifting, and gifting to clients or employees break down the barriers to forming those relationships. When done correctly, corporate gifts are a catalyst for success.
Corporate Gifting Industry
Over the last few years and with the rising popularity of corporate gift-giving, a lot of companies claim that they are the solution to corporate promotion gift needs.
However, the reality is that only the best all-in-one gifting platforms can take care of the entire process of designing, manufacturing, and shipping out your corporate gifts, which is why they’re considered to be the top corporate gifting companies. From these companies, you can expect not only to get some general merchandise but to fully develop your own branded line of products for clients and employees while also being able to work on more luxurious products for your cherished business partners.
Finding the right partner for your gifting strategy is crucial for its success—after all, you will rely on them to do everything from manufacturing to helping you with the designs and ensuring that the quality of your gifts is at the highest possible standard.
The corporate gifting industry has been growing at an increasing rate since the pandemic began. The combination of remote work and low employment forced companies to find new ways to make meaningful connections with their employees. They also had to find new ways to reach out to clients and B2B relationships. This can be done through the power of gifts. In our personal lives, we constantly use gifts to show that we appreciate somebody or that we’re thankful for them. The same can be said for businesses and professional relationships.
For example, when you have an employee that has been overperforming for months or that has had a crucial role in an important project, you need to show them some appreciation for their work. Some companies offer those kinds of employee bonuses, and that’s great; however, a gift always feels more personal, especially if it is well-chosen. Additionally, when starting business partnerships, gifts are a terrific way to show the person you’re negotiating with that you appreciate their cooperativeness during the process and that you’re happy to work with them in the future.
Sometimes, the gifts for your hard-working employees and for your business partners can be different—after all, your employees are people with whom you work every day and who you likely know better, while on the other hand, business partners are people you likely don’t talk with daily, but that you do need to impress. That’s why, in most cases, high-quality gifts for employees tend to be related to a hobby of theirs such as a concert ticket for an artist they love or a piece of merchandise for their favorite team. For business partners, you should usually go for luxury items—expensive wine bottles, leather cardholders, luxurious chocolate boxes, and more.
Of course, in the pre-Covid era, there were many other ways to showcase appreciation to your employees and partners. However, traditional, in-person events were canceled during the pandemic and have struggled since. These events were the core of many companies’ employee gifting campaigns. B2B corporate gifting transformed and was no longer a face-to-face touchpoint. Still, corporations needed to find a way to reach out to their employees, clients, and business peers.
In 2021, corporate gifting became a $242 billion industry because of the pandemic. It is supposed to reach $300 billion by 2024, according to a Coresight Research study. The corporate gifting market is going to continue to grow at a steady rate.
And the gifts aren’t cheap. Most companies expect to give anywhere from $25 to $125 per gift. How does all this pencil out? The money comes from marketing dollars that are no longer used for in-person events. Talk about a boost to the gifting budget.
Although the pandemic can be solely blamed for the huge boom in corporate gifting, it isn’t expected to go away any time soon. This is because in-person events and one-size-fits-all approaches to corporate gifting trends are no longer effective. People want personalized appreciation that is thoughtful, meaningful, and useful. Cheap, compulsory gifts don’t maintain relationships.
Corporate Gifting Companies
Corporate gifting companies are what make all this gift-giving possible. Just consider if you had to take care of this entire process in-house from designing the items to finding a manufacturer and then shipping them out. Depending on the organization’s size, that could take an entire team of people that would likely only have work a few times a year. Most businesses don’t want to hire employees just for their corporate gifting strategy, and this is where corporate gifting companies come to save the day.
With their help, you can be certain that all your branded merchandise and corporate gifts are designed and manufactured the way you want, while also knowing that if you’re in need of a more luxurious gift, they will be there to give you a hand. Ever since the pandemic happened, the rise of corporate gifting companies has been massive.
When the 2021-2030 corporate gifting industry report came out, it became clear that corporate gifting companies were experiencing a promising future. This was no surprise, and these companies had already been looking for ways to stand out as the corporate gifting market size continued to grow.
Some companies have rebranded themselves as luxury corporate gifting companies offering the promise of better relationships through the delivery of better-quality gifts. These might be name-brand gifts as opposed to generic, or they might be high-end gifts that make recipients feel valued.
Corporate gifting companies must understand the gift-giving environment in order to be successful. This means they must know the following:
- The culture of the business
- Branding strategies
- Voice of the company
- The industry involved in giving
- Values of the recipients
Especially as the gifts become costlier and more personalized, there is more room for error. For example, you wouldn’t want to send a gift containing alcohol to someone who does not drink it. Likewise, you don’t want to give cheap trinkets that have no value to the recipient. It sends the wrong message.
A gift marketing strategy is important, which is why corporate gifting companies are essential to successful gift-giving, whether it is to clients, employees, or other businesses.
Gift Marketing Strategies
Giving out corporate gifts might sound like a great idea to you, but without a good plan, it will give you no results. Or, at least, not the kind of results you imagined. That’s why before finding a company you want to work with and before making any merchandise designs, the first thing you need to consider is why you want to give out corporate gifts.
Consider what goals it will help you achieve and what kind of results you hope to get out of this initiative. Knowing these answers is vital for your gifting strategy’s success; otherwise, you will be just putting in effort without knowing what kind of result to expect.
For example, if your main goal is to retain employees and to make them feel more loyal to your company, then you shouldn’t just gift them the standard merchandise in the form of a mug, notebook, or reusable bag. Even if they like the gift, it probably won’t make them feel special or appreciated, as they will assume everyone else receives those items as well.
In this situation, what will make the most difference is the personal touch. If you choose a gift that’s connected to something that person truly enjoys—for example, their favorite artist, team, or author, then it will genuinely make them feel special. That kind of gift shows you pay attention to this person, that you know something about them, and that you remember what they like or dislike. The same applies to business partners. You won’t impress anyone with generic gifts. Instead, you will either have to focus on luxury (if you don’t know the person very well) or you will have to again choose something more personal that will have meaning to them.
With that said, gifting unique presents takes planning and research. And that’s why you need a gifting strategy to begin with. Along the way, you can take it a step further and have a separate gift marketing strategy as a way to attract and retain clients.
The right gift can be the perfect driver of qualified leads, which is another reason why marketing with corporate gifting is experiencing an upswing. Businesses recognize the value of a properly executed gift.
In fact, 80% of surveyed respondents stated that corporate gifts improved their relationships surrounding the business. Almost half of the respondents recognized that quality corporate gifts provided significant benefits.
What are the benefits of corporate gift marketing strategies?
- Customer loyalty
- Employee retention
- Employee satisfaction
- Employee productivity
- Shared business goals and success
- Maintained relationships and friendships
Some of these gift marketing strategies may include less-expensive marketing goodies or corporate gift boxes. They may contain paper or digital gift certificates. They may even provide options, so a recipient can choose to exchange the gift or not receive it at all. The gifts aim to please, as any gift should.
Modern gift marketing strategies are recipient-focused, and that means that they are easy to exchange or turn down without shame or guilt. They are also of high quality and personalized to limit the risk that they will go unwanted. The extra effort makes the gift more enjoyable for the recipient, but it also ensures that the gift delivers all of the benefits listed above.
Finally, corporate gifting platforms automate the process of gifting. Your client, employee, or business partner gets a timely gift catered to their wants. It is never forgotten because the system is designed to send it out without delay. There is no risk of forgetting to send a gift when you have an automated corporate gifting strategy.
Corporate Gifts for Employees
Corporate gifts for employees are not simply a kind gesture. They yield positive results. This is mostly in the form of increased retention and decreased turnover.
In a recent survey, over 60% of employers said that employee retention was more difficult than hiring new employees. Equally important is the fact that over half of employees are currently searching for new employment. Many of them do this while on the job. The lack of engagement costs U.S. companies $2.9 million each day looking for new recruits.
What do employees need to make them stay? A recent Gallup survey determined that they want the following:
- Increase in pay or benefits
- Work-life balance
- A job description that utilizes their strengths
- 3No discrimination
Many of the items on the above list have to do with employee benefits and logistics. They are specific and measurable. But there is another idea that encompasses the entire list, and that is that employees want to be appreciated. They want employers to know and care that they exist. They don’t want to be viewed as subservient but rather as members of a team with equal worth.
This is where corporate gifting strategies have gotten more complex. The gifts given cannot be superficial, generic, or meaningless. They must be quality items that convey honest gratitude.
Sure, they can still be branded gift ideas, but luxury corporate gift ideas are even better. A few ideas include:
- Gift boxes
- Branded hoodies
- Water bottles
- Coffee press
The eGifts scenario is a great prospect for employers, especially in lieu of remote work. A gift email to employees is a welcome surprise and a nice change from the typical. There is also the added benefit of the unexpected, as remote workers will feel less alienated and like they are a part of the company. This is an invaluable feeling to give to an employee who has no organic opportunity for praise.
Branded Corporate Gifts
Customized corporate gifts that sport the company’s brand or logo are dually beneficial because they advertise and remind the employee of the appreciation. Every time employees use the gifts; they’ll remember that the company cares about them. Whoever sees the gift will see that appreciation as well. It’s a notion that spreads.
Branded corporate gifts are also great promotional items for B2B gifts, and they can be customized with the other company’s name as well. The personalized aspect of this is welcome and blatantly flaunts the business partnership you have. This shows the company that you are appreciative of the work you do together and not afraid to show it.
Some of the best branded corporate gifts are luxury corporate gifts because they show that you are serious about showing appreciation rather than throwing out a cheap token. Examples of these gifts include:
- Charging dock stations or top-of-desk supplies
- Notebook and pen luxury set
- Knife set
- Travel or tote bag
- Cheese or Charcuterie board
- Drink glass set
- Drink cooler
- Gourmet treat basket
- Bluetooth speaker
Examples of corporate eGifts include:
- Gift card of their choice
- Access to an online store of gifts, so the employee can choose an exchange if necessary
Custom corporate gifts can come in nearly any shape or size, but they must be unique and meaningful to the recipient. Sometimes, the customization is what makes the meaningfulness stand out.
Corporate Gifting Platform
Everything about giving corporate presents sounds like a great idea until you consider the entire everything that goes into it. In fact, in most cases, it’s not one process but multiple processes that go into curating, designing, personalizing, and sending the gifts you need. Typically, you would need one manufacturer for your standard branded items (tote bags, mugs, notebooks), another one for luxury gifts, and yet another one for themed kits or holiday boxes.
Finding all of these partners and working with them effectively is challenging, and it makes your corporate gifting strategy all the more complicated. Thankfully, that’s where corporate gifting platforms come into play.
The most difficult part of starting a corporate gifting strategy is getting it organized so you don’t leave out important members of your team or important clients/businesses. It might seem silly to program it into your Google Calendar, but you can invest with the help of a corporate gifting platform.
A corporate gifting platform is one way to make personal connections at a much larger level. After all, you probably don’t have time to sign one thousand Christmas cards, so how can you possibly find time to personally send out gifts on the desired scale?
At Postal, we created an Offline Marketing Automation Platform so that businesses can serve their customers, clients, and B2B relationships the way they could if they had the resources. A large part of the services offered is automation, which means you can engage in corporate gifting strategies while simultaneously managing a business.
Features of the Postal platform include:
- Online marketplace with thousands of gift options
- Concierge team to personalize gifts for employees, clients, and partners
- Virtual events with curated kits
- Direct mail with AI handwriting capabilities
The biggest advantage of using an Offline Marketing Automation Platform is scale. A marketing team is only as good as the tools that it uses, and automation frees countless hours that can be reallocated to add value to presentations and the fine-tuning of corporate gifting goals.
Automation does not cheapen the authenticity of gift-giving. On the contrary, automation enhances the success of corporate gifting because it ensures that it happens at the right time and to the right person. The authenticity comes from the tailored messages, personalized gifts, and gift options that show you really want to give something that the recipient will enjoy.
Corporate Gifting Strategies Maintain Relationships
Maintaining business relationships is key, regardless of whether those are the relationships you have with your clients, employees, or business partners. Being able to work with people for a long period of time and to do it productively is key to the long-term success of every company, and it’s something that requires work and dedication.
Prior to the pandemic, corporate gifting strategies often took a backseat to in-person events such as retreats, meetings, and trade shows. They were an expected marketing component, but the fact that the gift was available was more important than how it was received.
Things have changed, and in a holistic sense, corporate gifting has improved. Recipients don’t want a gift that means nothing and has no value. They want true acts of kindness and appreciation that communicate worth and significance. This might seem like a challenge from a marketing standpoint, but it is actually an advantage.
In a world full of resignations and business breakups, corporate gifting fills a gap that was somehow created in the transition to remote work. The market trends reflect this in the increases in the corporate gifting industry. Employee and B2B gifting platforms make it easy to make sure your business is keeping up with these trends.
Get started with Postal to implement an effective corporate gifting strategy that drives revenue and shows ROI.