In recent years, corporate gift plans have become increasingly popular among business communities. It is most suitable for the brands that seeks to boost employee morale, create strong customer relationships, enhance brand awareness, and promote positive reputation of the company. A well-planned and well-executed corporate gift plan can lead to significant benefits for your business. These benefits include closed deals, increased customer and employee retention rate and repeat business.
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So, what exactly is a corporate gift plan?
Basically, it is a strategic approach by a company to send out gifts to its customers, clients, employees, partners, or other stakeholders. Such gifts are presented as a gesture of goodwill, appreciation, or for other marketing purposes. This plan essentially involves creating a budget, selecting the right gifts, developing policies and procedures, and also creating a mechanism for delivering and tracking gifts. The company’s goal behind this plan could be either building and fostering relationships with stakeholders or enhancing company’s reputation as a customer friendly brand or even both.
Moreover, implementing these plans can not only elevate internal business activities but it could also improve external business endeavours. It is possible for a company to achieve significant gains in loyalty, sales closure rates, and customer retention by effectively engaging employees, customers and partners with thoughtful gifts. Ultimately, it will lead to greater business success.
In simple words, a corporate gift plan is a strategic plan that involves sending purposeful gifts to employees, existing and potential customers, and clients. Although each of these recipient groups may require slightly different strategies. However, the core elements of the plan will remain the same for every group.
The core elements of the strategy are as follows:
- Identifying the targeted audience
- Determining the objective behind sending the gifts
- Developing a consistent schedule for sending the gifts
- Selecting thoughtful and appropriate gifts
It is important to design a plan that suits the needs of your company. This article will tell you a few key steps that are involved in the planning process.
Define your goals:
First of all, it is vital to define your purpose and goals to develop a successful corporate gift plan. Another important step is to determine who the recipients of your gifts will be. For example, are you planning to impress your potential clients with charming gifts that can help you secure business deals? Do you want to send gifts to your employees as a way of showing appreciation? or are you looking for promotional giveaways? These different recipient groups will require different types of gifts and plans. Therefore, determining your goals is the first and foremost step of designing a successful plan.
Choose the appropriate timing:
The second most important part of the plan is right timing. Choosing the appropriate time for sending your gifts is extremely important because it will help you achieve the desired outcome. You should never go wrong with it!
For example, in order to boost your employees’ morale, you can offer them small and budget friendly gifts all year round. However, the same strategy will not be suitable for your business partners and clients. You can plan and send them top-notch gifts on certain occasions such as women’s day, Christmas, Eid etc.
Pick the right gifts:
Identifying recipient groups, defining purpose, determining goals, and choosing the right timing will lead you to pick the most suitable gifts. Corporate gifting industry is a huge market where thousands of personalized gift options are available. Therefore, it is crucial to filter the search which should be based on your budget and gift category. There are many corporate gifting companies that can help you filter your search. This will enable you to find the ideal gift for your plan. Generally, you will need multiple gift options. Especially if your plan involves more than one round of gift-giving.
Develop a distribution strategy:
After finalizing your audience, gifts, and timing, you need to plan a best and time-effective strategy to deliver your gifts to your recipients. There are multiple ways through which you can achieve this. The first way is to have all the gifts shipped to a single address, most suitably a warehouse. You can distribute the gifts in person from there. Another way is to contact a gifting company, tell them your requirements, recipient’s address, and the delivery time. After this you can be free from all the hassle. The company will cater to your needs and send the gifts on your behalf. This is probably the easiest way of gift delivery.
In conclusion, a well-designed corporate gift plan can have a significant impact on your business relations. Moreover, you can increase retention rates, close deals, and build strong business relations with your partners and stakeholders by sending them meaningful gifts. Lastly, you can follow above mentioned steps in order to build a successful corporate gift plan that will help you take your business to the next level.
