Rapport. The ability to connect and communicate with trust, sympathy, and harmony. It’s an aspect of business that can fly under the radar, especially when other aspects like efficiency and profitability demand so much of the spotlight. Rapport deserves as much. Every business, no matter what it does, sells, or says, is a business of relationships; a company that’s void of rapport stands little chance of being engaged with. Being remembered.
Enter corporate gifting. More than an empty gesture, corporate gifting can yield genuine results. Think improved brand loyalty, think enhanced reputation, think enhanced corporate reputation. But when you dig a little deeper, what is corporate gifting? Let’s unpack this topic together.
Corporate gifting: a definition
You’ve given gifts in your life (well, we hope you have), so we’re halfway there. Corporate gifting is gift-giving in a professional context. The gift can be for anything: a hamper box to celebrate an employee’s recent promotion, a case of wine to thank an agency for their recent work on your marketing campaign, or simply a bouquet as an appreciative token to close the financial year.
We’ve already mentioned a few, but recipients of corporate gifting can be anyone you know and engage with in your professional life. These include:
-
Customers and clients
-
Team members and employees
-
Business partners
-
Suppliers
-
Prospective leads and potential clients
Like any gift you give, the goals remain the same: express gratitude, foster goodwill, enhance long-term relationships, and create interactions that people remember.
Good for business: why you should embrace corporate gifting
The brilliant thing about corporate gifting? It’s tangible. If you do it right, you’ll likely enjoy the following benefits:
Stronger professional relationships
We’ve already mentioned this, but it’s worth mentioning more than once. A thoughtful gift can work wonders, leaving an impression that’s not easily erased. The next time a supplier goes the extra mile, consider a gift. It’s your way of saying, ‘we value you’.
Morale booster
Often, a company will direct its focus outward, giving all its attention to the people it hopes will buy what it’s selling. Direct some of that energy inwards and show your staff that you recognise and appreciate the work they do. Meaningful gifts can mean the difference between retaining good staff and heading back to the recruitment board.
Brand identity reinforced
If gift-giving is part of your broader strategy, pretty soon people will start to associate you with this practice. And if you do it well, it’ll reinforce your brand’s identity in the eyes of everyone who receives your goodwill.
Promotes loyalty, encourages referrals
A happy client sticks around; there’s no other way to say it. Everyone is looking for a reason to stick around, and with every industry as saturated with competition as the next, a little gesture can be the little detail that keeps your business at the front of someone’s mind.
5 things you must consider before gifting
If you’re naturally inclined to give gifts, then great; it’s a wonderful inclination to have. In the corporate world, it sometimes pays to temper that enthusiasm by considering a few critical factors.
-
Know your audience
And know them well. Nothing will sour a relationship like an ill-considered gift, especially in a professional context. It screams ‘I don’t know you at all’. A one-size-fits-all approach rarely works, if ever. And don’t assume. Gift a case of wine to a client who doesn’t drink alcohol for cultural reasons, and you’ll be remembered for the wrong reasons.
-
Brand alignment is key
The same way a gift from you to your bestie reflects your friendship, so does a corporate gift need to reflect your brand’s values. For example, if your business is all about sustainability, choose gifts that sing your intent, loudly.
-
Be budget-smart
Easier said than done. Sometimes, the perfect gift will seduce you into acquiring it, despite the hole it leaves in your budget. Be wary, be smart, be realistic. Australian corporate gift budgets vary a lot. Take the budget approach and make a spreadsheet. That way, you can match the recipient with the occasion and get things right.
-
Timing is critical
Yes, you can just focus on the usual gift-giving dates: Christmas, work anniversaries, and the end of the financial year. You can think outside the square, though. Anything you deem a milestone can be a brilliant moment to give a corporate gift. That said, sometimes you don’t need a moment. Never underestimate the value of surprise and delight.
-
There’s a boring (but important) side to all this
The last thing you want is to make someone’s day with an exceptional gift, only to find out later from the company’s accountant that your corporate gift isn’t tax-deductible. It’s a real joykill, so check and double-check with your accountant before racing off to the shops. Better yet, get familiar with the ATO’s policies around corporate gifting.
~
There are no rules with corporate gifting, a fact that’s exciting and infuriating (often at the same time). It’s like a fancy-dress party with no theme. Sometimes, all the choices in the world are too much. To avoid choice paralysis, develop your corporate gifting policy. That way, the people who engage with your company will always be the recipients of thoughtful, useful gifts that make them smile.
This content is provided by a third party
