What Is Corporate Gifting And Why Is It An Effective Business Strategy?

What Is Corporate Gifting And Why Is It An Effective Business Strategy?

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Topic
Sales
Cost
Low
Difficulty
Easy
Result
Brand Loyalty
Cost Details
$20-$500

What Is Corporate Gifting?

Corporate gifting is the practice of creating a touchpoint with your existing clients and prospects through the use of a gift.

Giving gifts is one of the worlds oldest traditions. Why? Because it works.

According to Destination CRM:

Businesses that send highly personalized and modern gifts at key moments in the customer journey see a far better outcome—particularly with small and midsize businesses, whose customer relationships are crucial.

Corporate Gifting Key Takeaways

  • Corporate gifting is on the rise as more companies realize the benefits of gifting their customers and prospects.
  • Choosing the right gift and method of gifting is a critical consideration
  • When gifting, a company should proactively seek the customer's preferences for the customer to remember you value the relationship.

Understanding Corporate Gifting

Corporate gifting is a perfect way to create a sense of connection and positive association with the customer.

Established businesses have long relied on the power of corporate gifting to secure personalized relationships with potential customers.

A report by Instapage shows that 80% of customers are more likely to do business with a company if it offers personalized experiences.

Therefore, startups can use corporate gifting as one of their key marketing strategies.

If implemented effectively, corporate gifting bridges divides, and will make the customer feel close to your business.

In addition, corporate gifting sets you apart from the competition.

Real-World Examples of how Successful Companies implemented Corporate Gifting

1. Google

Google is one of the companies that have realized the potential of corporate gifting.

For Google, corporate is not only a way of retaining existing customers, it is also a way of attracting prospects.

For instance, a Google user who accepted to participate in an exclusive program with Google Cloud Platform received a free Chromebook.

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Above that, Google included a personalized message inside the Chromebook.

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Owing to the generous gesture, the customer accepted to listen to what Google was offering.

2. Firemon

FireMon, an agile network security policy platform, needed a way to connect with prospects and drive demand after the in-person events were canceled.

The company launched a campaign to qualify leads at their target accounts.

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Each week, the field marketers identified a low-performing territory and sent roughly 800 Cravory cookie packages to their contacts.

The field marketing team ensured the sweet cookies were delivered to the target prospects.

Over the six weeks period, the campaign generated new meetings resulting in closed opportunities.

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For Firemon, Cookie sends was an effective lead-generating strategy.

How to Get Started

  • Set your business gifting goals and take stock of company values
  • Identify the perfect gifting timing
  • Research how you can match the receiver's interest
  • Determine the budget
  • Select the right gift vendor
  • Be generous but do not go to extremes
  • Prepare for the unexpected
  • Measure your success

Strategic gifting

Giving gifts is one of our oldest traditions. Why? Because it works.

According to Destination CRM:

"Businesses that send highly personalized and modern gifts at key moments in the customer journey see a far better outcome—particularly with small and midsize businesses, whose customer relationship are crucial".

Case Study

On the corporate side, we receive orders for:

  • Thank you gifts to clients or business partners
  • Award gifts to employees or contractors
  • Business apology gifts
  • Year-round birthday/anniversary gifts to employees.

Many of our corporate customers have lists with hundreds of recipients in dozens of countries and our platform offers them a one-stop shopping solution for anyone on their list for any budget and occasion.

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Dmitriy Peregudov, on starting GiftBasketsOverseas.com ($100,000/month) full story ➜
Pat Walls,  Founder of Starter Story
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meet the author
Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.