Corporate gifting in budget

Corporate gifting in budget

This festive season, business houses and multinational companies operating in India are going slow on the age-old practice of corporate gifting. Most of them have slashed their budgets for 'gifts' significantly, and cite sluggish economic growth and alarming rise in food prices as prime reasons.

Many surveys have revealed that many corporate have started spending more of their budget amount in corporate gifting so as to increase their bonding with their employees as well as with their clients. They are now have became more practical and have started investing more in corporate gifts unlike the old traditional approach where they invested very less or we can say negligible but wanted their employees to work more than 100%.This approach was very wrong as u will get only when you will learn to give.

But also corporate have to see their budget also and can’t cross their limit in order to satisfy their clients and employees. There are now a lot of options in corporate gifts which can keep employees and clients happy and not even going out of budget of corporate. Some of the gifts are:

•          Mugs and sippers
•          Gift sets
•          Backpack and laptop bags
•          Corporate Apparel
•          Wall hangings

There several types of occasion on which budget friendly items could be given to employees. Corporate gifts do not restrict itself to occasions like Diwali and other festivals. It is a broad term and could be used in several situations like:

Farewell and Transfer

A nice memento with the farewell note inscribed will not cost more than Rs. 200. Apart from the above mentioned gift ideas, there is something called customized corporate t-shirts with logo that is available in the market. These gifts are nothing but small stationery products in which the company logo will be either printed or embossed. For example, a key chain, a small telephone diary or a visiting card case or even a paper weight. 

There are special corporate gift suppliers existing in the market who will make the corporate gifting process cost effective and also custom made for your company.

Award to employees, award yourself!!

It is well said that benefiting your employees indirectly helps you to gain benefits. Corporate gifts have become so much popular now that each and every company is adopting this technique to achieve maximum benefits.

Business gifts take advantage of perhaps the most powerful word in the English language: free. Offer someone something for free, and you’ve immediately got their attention. This makes it an excellent way of building relationships and boosting business.

Here are just a few ways that promotional gift-giving benefits your business.

1.   Raise brand awareness

One of the best ways to get " your name out there ” is to do it quite literally; a promotional gift with your company’s logo and name is a great way to raise awareness about your business.

Brand awareness is all about building associations. A gift helps target customers to be associated with your brand with customised logo. It makes a solid impression in your prospect’s mind, which also makes your brand easier to remember.

2. Save money

Not only business gifting is a thoughtful token; but it can also help to advertise your company at a lower price. Corporate gifts are among the most cost-effective means of promotion and brand awareness. It provides you with the customised logo engraved on the gift at an affordable price.  

3. Improve Image and perception

A promotional gift helps to improve a Customers' opinion of you and your company. Even outside of the business world, a gift is an iconic symbol of goodwill. Gift improves the overall attitude of prospects and increases the customer goodwill. 

4. Generate leads

Promotional products can help to inspire curiosity and interest in your company. It’s not unusual for customers to be more receptive to a business that gives them a free gift. Gifts also even be used as an impetus to sign up for a newsletter or visit a website.

5. Increase sales

Customers who buys a promotional product tend to spend more on products or services from the company that gave it.

Business gifts as a form of added value. Customers who feel that a company is  giving them greater value for their money are ultimately likely to spend more.

 6. Maintain customer loyalty

Building customer loyalty is not an easy task. It can cost more than eight times to acquire new customers than to retain existing customers. Satisfied customers are more likely to give you a repeat business. It’s a great way to remind them that their business is important to you.

 

  7. Develop employee relations

 Corporate gifts can improve the relations of employees as well as customers with the company.  Awards, plaques and other corporate gifts are an effective way to reward good work and to thank employees for their dedication.

 

Conclusion

Promotional gifts are a cost-effective and dependable way to give your company advantages in the business world. No matter what industry you’re in, it’s a good idea to incorporate a business gift into your marketing strategy.