Corporate gifts are more than just nice gestures. When given some serious thought and sent at the right time, they can drive revenue or decrease expenses that have a serious impact on the business. Here are a few ways that corporate gifting can help drive your bottom line.
Increased Employee Retention
Recruiting, interviewing, hiring, and onboarding new staff is a lengthy and expensive process. The best way to minimize your efforts when it comes to hiring is to go out of your way to make sure your team knows that they’re valued and appreciated. Creating an employee gifting program that outlines when and how you distribute internal gifts is an effective way to boost employee engagement and drive company loyalty.
More Customer Referrals
If you’re an independent consultant, referrals likely make your world go round. One of the biggest drivers of referrals is outstanding customer service. Sending gifts of appreciation after a deal closes, on contract anniversaries, or their birthdays is a great way to let them know how much you value them and will increase the likelihood of them spreading the word about your business.
Shorter Lead Lifecycle
If the nature of your business involves long sales cycles, sending a meaningful gift that reflects your brand and demonstrates how much you value the relationship with your prospect could help you get the deal over the finish line faster. But beware of forgettable corporate gifts! A recent study showed that 54% of recipients of corporate gifts deemed them unmemorable. Make sure that the gifts that you’re sending are personal. For more advice on how to send an elevated corporate gift, check out our blog post here.
Lower Customer Churn
If you’re a SaaS-based business, the last thing you want is for customers to unsubscribe from your services before a renewal. Renewal time is the perfect opportunity to touch base with your customers to gauge their satisfaction with your platform or service, and to send an appreciation gift to ensure that they know how much you mean to them.If you’re interested in learning how you can leverage corporate gifting to boost your bottom line, send us an email at email@example.com to discuss a custom gifting program for your business!