Ready to get started with your corporate gifting program? There are so many questions to be answered. Who should I be sending gifts to? What kinds of gifts should I choose? Do I have a budget? And, most importantly, how will gifting help me meet my business goals for 2020 and beyond. And how in the world do I measure my program’s success?
Our humble and hungry corporate gifting concierge is here for you. We’ve guided hundreds of clients through the process of growing their revenue through business gifts (for real) and we can help....
First Things First: What’s The ROI Of Business Gifting?
ROI (Return on Investment) is a calculation that shows for every dollar you spend, how much revenue you can expect to get back. It’s a basic tenet of marketing and sales and the KPI (Key Performance Indicator) of any campaign. (Now you can sound very smart when you meet with your biz dev or marketing team.)
So what’s all this have to do with gifting? You probably think of giving gifts more like a social or family obligation than a business building tool but similar principles really do apply! Just like handing out treats to folks in your personal life can be “friend makers,” business gifts are relationship builders. Whether you are sending gifts to prospective new clients or to increase retention of your client list, the folks who get a little something from you will feel noticed, valued and understood. Up your gift came and you can solidify these connections, remain top-of-mind and, in-turn, increase your revenue throughout the year. (Hello, ROI improvements!)
The Satisfaction Strategy: What Makes An Effective Business Gift?
If you’re looking for the perfect sum-up of what makes a high-returning business gift, it would be this…gifts should be satisfying and memorable. (In other words, they’ll like what you send and they’ll remember it!) And, maybe we’re biased, but we can’t think of anything more satisfying than a curated box of the best-small batch snacks all made by passionate makers in the USA. *wink wink*
Relationship-Building: How Do You Make Business Gifts Memorable?
In a recent survey of Mouth’s corporate gifting clients, we’ve found that when business gifts were called “memorable” by their recipients, revenues for the gifting campaign rose by 40%. What makes a business gift “memorable”? Well, it could be a number of things – thoughtful custom curation, customized branded packaging, personalized gift notes or an unexpected surprise that arrives at an unexpected time. Cocktail kits in the summer, anyone?
The Math: What To Spend And What To Expect In Return
According to our customer data, spending for those in the c-suite or valued business partners is about $50-$80 per gift. That increases to $150-$200 if the gift is celebrating a milestone such as an acquisition or exit.
Is the money worth it? Our clients say YES. The dollar value of a relationship can be a little hard to measure in the short-term, but a close relationship with your clients can keep ‘em coming back year after year.At Mouth, our corporate concierge is committed to working with you to think through and build your business gifting strategy. If you’re not sure how to approach gifting, we can help you come up with a plan. Reach out to our corporate concierge at firstname.lastname@example.org and together we’ll reach your employees, clients and strategic partners with America’s best small-batch gifts.