Gift-giving isn’t only reserved for people in your personal life; it can also be an effective tool to bring people closer in a professional setting. Whether you’re bridging a connection from one business to another or showing your appreciation for those in your team, being able to give a gift which not only means something to the receiver but also represents your company is a must.
In fact, data shows that the UK corporate gift-giving market is worth £78.3 million. With people offering gifts as a form of reward for employees within a business or as a means of creating a better business reputation, being able to recognise strong business relationships is important.
Katy Baxter, Head of Marketing at Baxters of Scotland says: “Gift-giving doesn’t only have to be reserved for your loved ones; it can be a great way of recognising and building relationships both within your company and with other brands. It can be easy to be sucked into a world of simply sending emails, but gifts can be a tangible, personal way of connecting with your colleagues, partners, and clients. After all, there’s someone else on the other side of the email chain. Business communications are as much about human connection as any other relationship.”
When you should send a business gift
Much of corporate gifting is about knowing when to send a gift. With every sector partaking to some extent, including manufacturing (68%), utilities (67%), and information and communication (62%), standing out is important.
Katy says: “You don’t simply want to be responding to a gift with a gift; this will make your business look inconsiderate or unprepared. Instead, you should be considering a good time to give gifts to colleagues, clients, and other businesses in a way which will be a welcome surprise. Gifts don’t have to be reserved for your team hitting target or for Christmas; they can be a great way of boosting morale and increasing your employee lifecycle. If someone is celebrating something personal or leaving for maternity, even a personalised letter and small gift set can make a lasting impression.”
You should also consider sending gifts for big milestones such as work anniversaries to make employees feel seen. Valuing your colleagues and work partners, both for personal and professional achievements, is important for keeping morale high and providing a supportive work atmosphere.
You’ll also want to get ahead of the seasonal rush, to ensure that your business doesn’t look like they’re leaving gift-giving and strengthening networks to the last minute. Try having your gifts ready to send by the beginning of December, so that everyone can receive their gift before most people’s annual leave begins.
How much you should spend
How much you plan to spend can depend on what you’re hoping the gift says, why you’re sending it, and the strength of your network. The average corporate gift, according to data, costs approximately £50.
Your business doesn’t want to accidentally look to be bribing anyone, so sticking close to the average spend is a must to make sure you’re not overspending or coming across in that way. Making sure you’re checking your gifting with your legal team, or an advisor, as well as your financial teams is a must before sending them out.
It is important to note that your corporate gifting is not tax deductible. This is because any business gifts are classed under entertainment and so they count towards your overall tax.
What to send
Food and drink
Items such as food hampers and drink packages are gifts that can be enjoyed by everyone. Not only is this a great option if you’re not sure what the other person might like, but it is also useful if you want to send a gift to a larger team of people as the hamper can be opened and shared among colleagues with everyone finding something to enjoy.
In fact, 35% of businesses claim to send food and wine. Gifting these items can offer your clients, customers, colleagues, and connections a chance to try new flavours and foods or enjoy time together sharing. Not only will this item suggest that your company is grateful for the person or people, but it can also signify consideration and warmth.
Katy says: “Food is such a great gift to give as it can simply highlight home comforts, which we can often forget in a corporate setting. By sending a food and drink hamper, you’re able to cater to any dietary requirements and even make sure that everyone on a team can have their share.”
Personalised gifts
It isn’t only about the gift that you send, but how you send it. Personalised items are important for any business to send. You don’t want your receiver thinking you’re sending these gifts to every business they work with – this can take away the special connection you’re trying to build.
Instead, send something personalised and heartwarming. At the end of the day, you’re building a connection with the other person, not just the business. Swap your positive feedback emails for a note of gratitude alongside your gift to make a bigger impression.
If you’re wanting to provide a thoughtful gifting experience, adding a personalised note to any gift can change it from a generic mailout that anyone can receive into something special for the receiver. This is important to make your partners and colleagues feel valued and appreciated.
Invitation
Quality time is just as important for business relationships. Being able to spend time with potential or long-standing clients or colleagues is a must if you’re to build a significant working relationship.
Why not try inviting them to an event? This could be an away day for the team or even a lunch to get to know the business and their people better. Don’t make this too work-focused though. You’ll want to make sure you’re making a genuine connection with your network and not simply trying to talk shop all night.
How to align it with your business
Aligning your gift with your business can be a great way of not only highlighting your goals and values, but also having a bit of fun within the workplace. This can be a personalised note which highlights the business connection, some merchandise, or even sending them some of your own products to enjoy.
Katy says: “It is important to note that any gift-giving should be about the receiver and not about the sender, including business gifts. You shouldn’t be sending gifts with the focus on you, as this can come across the wrong way. Instead, focus on what you’re trying to say with your gift – whether this is a “thank you”, “we are excited to work with you”, or simply “hello”.”
Business gifts can be a great way to strengthen corporate relationships and connections. It isn’t only about the business at the other end, but the people too, and making an effort to get to know what they like or to make your gift personalised is a step all businesses should take to appreciate growing networks.
Sources:
https://b2bmarketing.net/archive/corporate-gifting-market-estimated-at-78-3m/