Gift giving culture is as timeless as it is important. More often than not, this results in large amounts of money being spent on extravagant items. And it has nothing to do with the gift being useful or useless for the receiver. In most cases, it is the latter. But there are many advantages to business culture of gift giving. From increased productivity to better relationships to customer satisfaction, the benefits of corporate gift giving are manifold. If done right, this could be vital part of your employee reward program or hospitality setup. But then again, there needs to be a proper thought process about whether the gift is appropriate or if it could be misinterpreted for some reason. Corporate gifts can be divided into two broad categories. Gifts that are given to external business entities such as other businesses, as a sign of good and to stakeholders. And gifts that are given to internal entities such as your employees, investors and customers.

Corporate and Business Gifts as Marketing Tools

External gifts are great in that they can help find potential customers as well as improve the relationship with existing ones. Most businesses would choose an inexpensive gift for new customers. These could range from branded apparel, to office supplies to e-books and flash drives to introduce someone to their business. These are useful and are a great way to increase your customer base, lead to potential customers and investors and keep your business on top of their minds. On the other hand, if you have been working with a customer for several years, you may consider giving them a rather expensive package as a sign of gratitude for their continuous loyalty and support. But you must be careful because it is easy to confuse such a gift as a sign of favouritism or bribery.

The Value of Corporate Gifts

Every business strives to be the best. How by hiring the best people, maintaining employee morale, good salary packages and often, rewarding them every now and then. These rewards could take the form of health coverage, to movie tickets and corporate gifts. Why? Not only because your employees love receiving them. But also, because this benefits your business too. These gifts work excellently when you must boost teamwork and company cohesion. It is very common to see employees coming together to give a gift to a leaving fellow employee as a sign of goodwill and this creates cherish-able memories for the receiver as well. All in all, gift giving, where it is to external people connected to your business in some way or to the employees that put in hard work and effort to make your business a success, has benefits, known and unknown. But it is guaranteed that the giving culture will always reciprocate.