Importance of Giving Gifts in the Corporate World

Establish bonds through gifts

One of the many links that businesses need to establish and maintain is the one with their customers. This may not seem to be a big deal, but in the face of competition, it may be the difference between perishing and surviving. This is why business gifts assume so much importance in the world today.

Growth in entrepreneurship

Every other person is an entrepreneur and on many occasions, he or she has stiff competition from at least thirty or so business houses in his or her locality. This means that any customer has the option of choosing this particular business brand or one from thirty other brands. You can see why many businesses fail to survive. They just cannot face the intense heat.

Survival among the competition

But, the shrewd business person finds new survival tactics that help him build a customer base under the nose of the competition. One such is through the corporate business gifts. These are not expensive gifts but rather the token gifts that remind the recipient that he or she is remembered by the company making the gift.

corporate-business-gifts

Choice of the gift

The gift might be something cheap but useful such as a calendar or diary. Or, it may be an expensive one they give on the occasion of anniversaries such as a cash bonus or a wrist watch. But, each of them bear the same message – we need you to be with us. Now, people have established this kind of bond from the beginning of time since man settled down and became a farmer from being a hunter. They built bonds that grew and became what we see today as social bonds.

Need to be in the mind of the customer

Businesses need to be consistent in order to maintain their market presence. They need to be in the mind of people always otherwise they will find some reason to switch loyalties and find some new brand. This type of switch too is natural because man craves diversity. He needs change and so will not hesitate when shown some new choice.

Through the use of these promotional gifts, as we call them, the business people maintain the loyalty of their customers. They reinforce the bonds at regular intervals especially at festival time so the customers associate their brand loyalty with the happy, festive mood. This helps the bond to grow.

Make gifts that have worth

They need to choose the gifts well. One must spend some time to think about the customer reaction to the gifts. It is possible that the customers feel insulted by the gift and this might result in the loss of the customer base. For this, the gift must have some utility value.

Remind them of you

The business houses stamp their names on the gifts. This is done through stencilling or they may use a sticker. The idea is that the name should remain long enough for the user and the others near him or her to remember the name of the company that made the gift. The other people who see the name now want to see how good the product is.

In this way, the concept of gifting increases the volume of business through passive advertising. They hold on to their customer base and make their business grow.

 

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