Corporate gifting has typically played an important role in expressing a company’s appreciation towards its clients. During these socially distant times, this role of corporate gifting has become even more apparent—and a business priority. A study conducted by Coresight Research estimates that the US corporate gifting market alone will reach an impressive $242 billion this year, and continue accelerating at a 8.1% Compound Annual Growth Rate (CAGR) through 2024.
Companies are actively seeking ways to lessen the sense of disconnection between itself and its clients. With corporate gifting strategies serving to fill this gap by enabling companies to build meaningful emotional connections and make recipients feel valued.
To achieve this, the most successful corporate gifting strategies require careful thought and consideration that stems from having an in-depth understanding of one’s recipients. After all, it is the memorability of gifts that drives connectedness and higher customer loyalty.
So how then do you give corporate gifts that clients actually want?
One such way would be through the personalisation. From name engravings to personal messages, customised gifts demonstrate the care and thought that goes into preparing the gift for the recipient. They serve as tangible assets to convey your business’ genuine care for clients; tacitly reinforcing how your business goes the extra mile to convey your appreciation to stakeholders.
Another interesting yet thoughtful way would be through gifting with social good in mind. With the incessant chaos and uncertainty that have plagued recent times, coupled with cultural shifts towards sustainability, fair sourcing, and social responsibility—businesses could tap on their corporate gifting strategy to give gifts that leave a positive impact. This makes corporate gifting extra meaningful and creates positive associations with the brand, all while strengthening business relationships.
As mentioned in this Forbes article, the popularity of sending “company-logoed” corporate gifts is dwindling. Instead of making recipients feel more appreciated, these gifts could backfire and result in lower levels of satisfaction. While the intention of putting logos on gifts seem straightforward enough (i.e. remember my company), the art of successful corporate gifting should be conveying “we are thinking about you” to recipients.