The psychology of gifting states that it influences feelings of reciprocity and trust. This is why corporate gifting is a thing now and is widely practiced by several companies. Objects of utility, edible treats, personalized tee shirts, coffee mugs, calendars, notepads and even non-physical gifts such as concert or movie tickets are given away to employees, clients and prospective clients. This in turn makes the individual develop a sense of kinship and makes the person associate positive feelings with the brand or the company.
The challenge faced when it comes to corporate gifting is that unlike family, friends and relatives the giver does not have much of an idea of the receiver’s personal preferences. Corporate gifts are made using certain assumptions with relation to the receiver’s age, gender, social status etc. Corporate companies are constantly looking for ways and means of forming strong bonds with employees, clients and prospective clients. This practice of gifting is one of them and is considered to be one of the most effective ones.
Everybody likes gifts and freebies. So, it’s only natural that the company that invests in corporate gifting, be it for its employees or clients tends to have better recall value when compared to a company that doesn’t.
Corporate gifts of good quality when significantly personalized foster this feeling of being appreciated and valued by the employer and motivates the employee to work harder and perform even better. This impacts the role that employees play in the day to day operations of the company and is directly related to the quality of service that they deliver.
With clients it is all about letting them know that their business is valued and forming more long lasting bonds.
This is similar to wooing the person you love. By giving a meaningful and well-timed gift you happen to be right on top of the person’s mind. This means better chances of them choosing to do business with you. A lot of companies do not take corporate gifting seriously but those who do have been known to greatly benefit from it.
There are several serious benefits associated with corporate gifting apart from the satisfaction of having received something as a gift. It can boost your employees morale during tough and trying situations. It is a very pleasant way of thanking someone for their services and this applies to both clients as well as employees. It spreads goodwill which is very important when it comes to business. It forges better relationships with customers. It creates or increases brand awareness and thereby promotes newly introduced products or services. It brings back clients who have already engaged in a business transaction with you. It attracts new clients. It also saves money which you would otherwise be spending on advertising and marketing which is more expensive.
Similar to gifting family friends or loved ones, mostly it’s the thought that counts. You don’t have to be giving away diamond earrings to form meaningful relationships in the long term. It is enough if positive feelings are invoked in the mind of the receiver and your brand is top of mind. Similarly with employees corporate gifting will encourage them to take ownership when it comes to performing various tasks.