Why is Corporate Gift Giving Important?

Posted on September 09, 2021 12:22 PM

As people in the business industry say, people like to do business with people they know, like, and trust. Business is all about initiating and maintaining various relationships, including those with customers, employees, and partnering companies. What better way to support your business relationships than with corporate gift giving? This post highlights how corporate gift giving benefits your customers and employees and promotes goodwill for businesses.

What is corporate gift giving?

Corporate gift giving allows businesses an opportunity to express appreciation and create a connection between the giver and the recipient. Many businesses shy away from corporate gift giving assuming they cannot afford it, as only about a third of businesses provide gifts to prospects and clients, and less than half provide gifts to employees. However, corporate gift giving is important because companies that give out gifts are more likely to increase sales, boost productivity, and create lasting business relationships. 

Customer Experience

Giving customers gifts may sound counterproductive, however, it is essential to success. According to a recent survey, 68% of consumers say receiving a memorable gift from a business strengthened their relationship. Additionally, 43% said they would be more likely to recommend a business solely based on receiving a gift, and 33% said they’re prepared to spend more. There are several benefits for businesses that give their customers gifts.

Employee Appreciation

Now more than ever, employees need to know they are appreciated. Studies show that about 2/3 of people will quit a job that does not make them feel appreciated. When you consider that it costs about 33% of an employee’s salary to replace them, the importance of showing appreciation to your employees becomes even more evident. From celebrating milestones to holiday gifting, employee appreciation is something that will not only keep employees happy but can also boost productivity.

Promote Goodwill

Customers and employees are not the only individuals your business consistently interacts with. From business partners to suppliers, promoting goodwill will with those you work with is just as essential as any other business relationship. Promoting goodwill to those you work with shows that you value their time and support of your business and can leave a long-lasting positive opinion of your business relationship.

The holiday season is just around the corner! Make sure to leave a lasting impression on all your business relationships with a gift that shows your appreciation. Not sure what to get those on your gift list? Your local Fully Promoted team can help you find the perfect corporate gifts for everyone on your list. 

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