Business in 2021 is fast paced, technologically driven and busy. Building solid and long-lasting business relationships requires effort, time and good communication. Corporate gifting is a highly valuable business practice that is an integral part of many leading global brands success stories.
Why is corporate gifting so valuable? We have put together a quick guide to corporate gifting and explain how we can make this experience effortless for you.
Why corporate gifts?
The value of corporate gift-giving goes far beyond saying thank you to a client or business partner. A gift is a sign of appreciation and it can substantially build your brand, increase productivity, boost morale and potentially reward your business ten-fold. Creating a lasting impression will not only keep your business in the receivers mind, but more importantly it can create real fans who will spread the word for you. In some countries such as Japan, large sums are often spent on corporate gifts and it is an integral part of business culture.
Internal and external corporate gift-giving
Corporate gifts can be beneficial both internally, such as individuals and groups of your own staff, as well as externally with clients, business partners or collaborating brands. Identifying your individual objectives behind corporate gifting will help you determine how to best go about it.
When is the best time for corporate gifting?
There is no rule of thumb, but whilst there are many seasonal opportunities such as Christmas and other holidays, there are also plenty of reasons why you should make corporate gifting a year-round matter. Whether it is birthdays, business milestones, openings, successful deals, photoshoots, product launches or anniversaries; a gift goes a long way and will always be appreciated. Sometimes the best and most lasting memories are the ones that were unexpected.
Choosing the right gift
Choosing the perfect corporate gift is essential. Start by setting clear objectives as this will help you to determine your approach. Next set a budget, this will ensure that the process remains economical. It is absolutely vital to decide for a gift that is appropriate. Too cheap and the recipient may not appreciate it, or it could even reflect negatively on your brand. Too expensive or outrageous and it may come across the wrong way. Stay away from gifts that are clustered with your own branding; this is not a branding exercise and it will most likely land in the bin. Instead choose a thoughtful gift that aligns with the values of your company and one that reflects the perception of your brand. The goal is to create a memorable experience. Gift experiences such as get-aways are great for internal gifting. Whether they be senior-management or apprentices; it allows for bilateral understanding and creates room for the development and sharing of ideas and skills. In todays fast-paced environment, personalising your gift is very important. A genuine hand-written note will be much appreciated and will impact positively. Quality long lasting gifts such as scented candles suit about every situation and could create memorable effects that will keep you in the receivers minds for much longer.
Tax Benefits
In some countries corporate gifts are tax-deductible. In others there may be limitations, or it is not tax deductible at all. It pays to check with your accountant and individual government tax agency.
Lyttelton Lights makes corporate gifting easy
Over the years we have helped large global enterprises and small businesses alike. We understand that time is precious and that service matters.
We offer exclusive corporate rates and have the capacity to help you achieve your individual objectives, no matter how big.