Do you think corporate gifts are an incredibly important part of building your company brand? Yeah, of course. Everyone wants freebies. You give away, give away, and give away some more until you get into serious cashflow trouble. And in a time when we may not see as many customers or employees as we used to, you think it's important to use such gifts to blackmail them, right? They all do.
Did You Know?
- Corporate Gifting Market Size: The global corporate gifting market is expected to reach significant value, growing annually as businesses recognize the importance of maintaining relationships with clients and employees.
- Promotional Products Retention: Studies suggest that consumers keep promotional products for an average of 6-12 months, indicating the lasting impact of branded gifts.
- Preference for Quality: About 85% of people remember the advertiser that gave them a shirt, highlighting the value of quality in promotional clothing.
- Eco-friendly Products Demand: Over 46% of consumers have a more favorable opinion of an advertiser if the promotional product they received was eco-friendly.
- Impact on Business: Companies that invest in corporate gifting report up to a 2x higher chance of being contacted by recipients, compared to those that don't.
- Employee Appreciation: 80% of employees say they feel appreciated when they receive corporate gifts, enhancing job satisfaction and loyalty.
- Customer Retention: Customers who receive gifts are 24% more likely to return for future business, demonstrating the power of gifting in customer retention strategies.
Some businesses make the mistake in thinking that just because they are no longer on the main street, that there is no need to gift their clients and regular customers. And that's a wise decision. Don't chase them. Don't stalk them. These gifts only make certain employees and customers feel valued.
There are generally two segments of corporate gifts and these are explained below to provide some clear guidance and insight as to why your business brand will benefit from a little giving.
CyberCash Wonderland
The Eternal Freebie
At a family reunion, Uncle Joe boasts about the flashlight he received as a freebie 20 years ago, claiming it's the best gift he's ever gotten because "it's lasted longer than most of my relationships."
The catch? He's never actually found batteries that fit. So, in a way, it's been the light of his life, guiding him through the darkness with the promise of illumination that never actually comes.
Logitech Brio 4K Webcam
Ultra 4K HD Video Calling, Noise-Canceling mic, HD Auto Light Correction, Wide Field of View, Works with Microsoft Teams, Zoom, Google Voice, PC/Mac/Laptop/Macbook/Tablet
We earn a commission if you click this link and make a purchase at no additional cost to you.
Freebies for Clients
Handing out freebies to clients is a popular way to get your brand out there. Pens, mugs, T-shirts - you name it. It's like a friendly hello from your company. But let's take a closer look at why this friendly hello might not always turn into a lasting relationship.
1. Attracting the Freebie Lovers
There's a crowd out there that loves free stuff. Who doesn't, right? But the thing is, they're in it for the goodies, not for what your company sells. You might give away the coolest keychains, but will those keychain collectors come back to buy your services or products? Probably not. It's like feeding birds in the park. They come for the breadcrumbs, but they don't stick around, do they?
So, when you're giving away freebies, remember that you're likely attracting folks who are more into the free part than into what your business actually does.
2. The Value Dilemma
Here's a thought – if you give something away for free, people might think that's what it's worth: nothing.
It's tricky, isn't it? When your product is handed out as a freebie, it might set the wrong idea about its value. Think about it. If you're giving away a service that usually costs money, people might wonder why it's being given away for free. Is it not good enough to sell?
This can backfire because it could make your actual products seem less valuable. After all, why pay for something that was once given away for free, right?
3. Short-Term Buzz, Long-Term Fizzle
Freebies can create a buzz. Everyone's talking about the cool stuff your company is giving away. But what happens when the freebies run out? Often, the excitement fizzles out too. It's like a fireworks show - great while it lasts, but soon it's back to darkness.
The challenge here is to turn that short-term excitement into long-term interest in your company. But if people are just there for the freebies, they might not stick around to learn what your business is really about, you see?
Did You Know?
- High ROI: Branded gifts have a higher return on investment than most forms of advertising, including TV and print media.
- Digital Gift Cards Growth: The digital gift card market is projected to grow significantly, with more businesses leveraging them for customer engagement and loyalty programs.
- Personalization Trend: 79% of corporate gift buyers are interested in personalized gifts, as personalization increases the perceived value of the gift.
- Holiday Gifting: Over 60% of businesses send gifts to their clients during the holiday season, making it the most popular time for corporate gifting.
- Influence on Perception: Corporate gifts significantly influence the recipient's perception of a company, with 85% reporting a positive shift in their view.
- Budget Allocation: On average, companies allocate between 1% to 2% of their total annual budget to corporate gifting.
- Effectiveness in Trade Shows: Trade show attendees are 52% more likely to enter a booth that offers promotional merchandise.
4. The Cost of Freebies
Let's not forget, freebies aren't exactly free for you. There's the cost of making them, the cost of shipping them out, and let's not even get started on the time and effort it takes to plan all this. It adds up, doesn't it?
You might think of it as an investment, but it's important to consider whether this investment is really paying off. Are these freebies bringing in customers who will actually buy something later? Or are they just a fun but costly exercise in getting your brand out there for a quick moment?
Freebies may be a fun way to introduce people to your brand, they're not a surefire way to build a customer base that's actually going to buy from you. It's a bit like casting a wide net and hoping to catch some fish, but you might end up with a net full of old boots instead.
Employee Gifts
When it comes to showing appreciation to employees, many people think of gifts, right? But let's take a minute to explore why giving gifts might not be the best idea. It sounds nice in theory, but there are some downsides.
It's Never Fair
First off, choosing gifts is tricky. What one person loves, another might not care for at all. You see, everyone has their own tastes and preferences. Imagine getting a spicy food hamper when you can’t handle heat, or a book in a genre you never read.
It's kind of like playing a guessing game where the odds of winning are slim, isn't it?Plus, there's the issue of fairness.
If one employee gets something perceived as 'better' or more expensive, it can create tension. You don't want to accidentally start an office rivalry over a coffee mug or a planner, right?
Unintended Pressure
There's also a hidden pressure that comes with gifts, especially in a workplace setting. Employees might feel obliged to respond in kind, or worry about how to show their appreciation. This kind of stress is the last thing they need. They're there to work, not stress over gift etiquette, you know?
And what about the company culture? Constant gift-giving can set a precedent. It might lead to employees expecting gifts for every occasion. Birthdays, work anniversaries, holidays - the list goes on. It's a never-ending cycle, isn't it?
CyberCash Wonderland
The Gift of Nothing
A husband decides to surprise his wife with a unique gift for their anniversary: a box of "nothing," symbolizing that she already has everything she needs with him.
Excitedly, he hands her the beautifully wrapped box. She opens it, smiles, and says,
"Just what I always wanted, a space to put your listening skills. Thanks for finally giving me nothing!"
Misinterpretation of Intentions
Let's not forget how gifts can sometimes be misinterpreted. What's meant as a simple 'thank you' can be seen as an attempt to buy loyalty or happiness. It can even come off as a bit insincere. After all, a genuine 'thank you' or a heartfelt note often means more than something bought from a store, doesn't it?
In some cases, employees might even see gifts as a substitute for what they really want – like fair compensation or better working conditions. You can't really replace those with a gift card or a fruit basket, can you?
Did You Know?
- Tech Gadgets Popularity: Tech-related items are among the most popular and valued corporate gifts, with high perceived value and usefulness.
- Repeat Business: 83% of people who receive promotional products are more likely to do business with the brand.
- Social Media Boost: Sharing of corporate gifts on social media can increase brand exposure, with 58% of recipients likely to share their experience online.
- Decision Makers' Preferences: 72% of C-suite executives believe that quality corporate gifts reflect the values and image of the company.
- Welcome Kits for New Hires: Companies that provide welcome kits to new hires see a 15% increase in employee engagement.
- Global Gifting Differences: Cultural differences significantly influence corporate gifting practices, with businesses often adjusting their strategies to align with local customs and expectations.
Some Gift Ideas (If You Must)
But hey, if you're set on the idea of giving gifts, why not make them memorably wild? Here’s a list of some out-there gift ideas:A pet rock – low maintenance, for sure.An inflatable unicorn horn for cats – because why not?
- A jar of nothing – for employees who say they want nothing.
- Personalized superhero capes – to show they're your office heroes.
- A yodeling pickle – it's as quirky as it sounds.
- Socks with the boss's face on them – talk about being under someone's foot!
- A mystery box of the month – who doesn't like surprises?
- DIY watermelon growing kit – it's, um, unique.
- Edible bugs – for the adventurous eaters.A book of bad jokes – to keep meetings lively.