While individual gift-giving to near and dear ones is a long-standing practice, not many are aware of the culture of giving corporate gifts. Companies show that they are grateful to their customers or employees by giving away corporate gifts.
Corporate gifts are normally expensive items and they do not carry any business symbol or brand name, as their purpose is not marketing or promotion. On the other hand, various gift items are often given away for marketing purposes, such as stationery objects, USB drives, or key chains. In such cases, the items are often marked with the company's logo before they are distributed to workers or potential customers.
The gifts to be given by the company should be selected as per the needs and desires of the individual for whom it is intended. Corporate gifts should always be chosen with the receiver in mind. There is no point giving a gift - especially a corporate gift - to an individual who will not appreciate what we have given. We should be seeking to create a 'WOW' whenever possible.
The effect of the corporate gift on the rapport with a client or a team member depends on how expensive the person believes the gift to be. Before giving a corporate gift, you should consult with your legal department regarding any constraints that may have been imposed by law on this practice.
Before purchasing corporate gifts you should plan your expense, find out the number of gifts to be presented, and look for good deals for a bulk purchase from the dealers. This is clearly more useful in case of gifts to employees, especially if yours is a big company. You should buy the right number of gifts so that no employee whom you wish to thank is left out.
Offering corporate gifts to customers and staff helps in strengthening the professional association, and it is a good business practice to adopt. But don't forget to keep the law and expense related factors in mind.
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