The Benefits Of Corporate Gifts
Basically corporate gifts serve 5 main functions.
- Reward and build brand loyalty among employees
- Build awareness to a new brand / product
- Reward existing clients and foster deeper relationship
- Gift with purchase to encourage spending / increase average spend
- Moment to commemorate an event or an occassion
Most of the reasons for giving corporate gifts work towards increasing sales and brand value in one way or another. The spending is low but the value of such gesture is enormous. Rewarding employees are an integral part of keeping your workforce motivated and productive. Employees like to feel appreciated and will work harder for the company when they know the company values their efforts. It is important to give a token of appreciation once in a while.
When a new product comes out to market, the fastest way to promote it is to garner traction via the use of corporate gifts and promotional products. It pulls people to see what you are offering and you stand a better chance promoting your product to your prospective consumers.
Clients too need to feel appreciated and valued. You need to give them a little token to show you appreciate their business and the relationship. The cost of acquiring a new customer is 10x that of keeping an old. Thus, spending a little on your existing clients go a long way!
Givers gain. When you expect people to buy your product, giving that little incentive will go a long way. It provides that little push / edge and will increase sales by many fold. Everyone loves a bargain. If they see value in the purchase, like a free powerbank, the sale is easier to take place.
Everyone loves a souvenir! After attending an event, they would want something to remember the event by. Like a medal after a marathon or a pair of chopsticks to commemorate a wedding.
To sum it up, everyone loves Gifts. Spend less, do more, create value with the lowest cost and highest return on investment!
Cheers to successful business!