Corporate gifting as a concept is not new. It has been a part of business practices for centuries, with historical evidence dating back to ancient civilizations.
For instance, ancient Egyptians were known to exchange gifts to strengthen relationships and solidify business deals.
In more recent times, corporate gifting has evolved into a strategic marketing tool used by businesses to build brand loyalty, foster client relationships, and reward employees.
Over the years, businesses have adopted various gifting strategies to achieve different goals. Some companies gift their employees as a token of appreciation for their hard work and dedication. Others use corporate gifting to build relationships with clients and business partners, showing their commitment to customer satisfaction.
If you are new to the concept of corporate gifting, don’t worry.
In this guide, we will provide you with a comprehensive overview of what corporate gifting is, why it is important for businesses of all sizes, and practical examples of how companies are benefiting from this strategy.
What Is Corporate Gifting?
Corporate gifting is the practice of giving tangible or intangible gifts to individuals or groups associated with a business. These gifts can be given to employees, clients, business partners, or even the general public.
The primary goal of corporate gifting is to build relationships, strengthen brand loyalty, and enhance a company’s reputation.
Corporate gifts can take many forms, including:
- Physical products: These can range from everyday items like branded merchandise to luxury gifts like electronics or experiences.
- Gift cards: These offer recipients the flexibility to choose their own gifts.
- Donations to charity: This is a thoughtful way to give back to the community while also making a positive impression.
- Experiences: These can include tickets to events, spa treatments, or other memorable activities.
The type of gift chosen will depend on the target audience, the occasion, and the specific goals of the company.
Importance of Corporate Gifting
Corporate gifting offers numerous benefits for businesses of all sizes.
Let’s explore its significance in various contexts:
Gifting Your Clients
Corporate gifting is an effective way to build and maintain strong client relationships. By presenting thoughtful and personalised gifts, businesses can demonstrate their appreciation for clients’ patronage and show they are valued partners.
This can lead to
- increased customer loyalty,
- repeat business, and
- positive word-of-mouth referrals.
Gifting Your For Employees
Recognising and rewarding employees is essential for maintaining a positive work environment and boosting morale.
Corporate gifting serves as a tangible expression of gratitude for employees’ contributions. It can also help improve employee satisfaction, reduce turnover, and create a sense of belonging within the company.
Gallup survey shows that employees who feel recognized are 2.5 times more likely to be happy with their jobs and 1.5 times more likely to feel motivated to do their best. This leads to higher engagement and productivity among recognized employees.
Gifting the General Public
Corporate gifting can also be a valuable public relations tool. By donating to charitable causes, sponsoring community events, or providing gifts to the general public, businesses can enhance their reputation, improve brand awareness, and strengthen their connection with the local community.
Overall, corporate gifting is a strategic investment that can yield significant returns. It helps to build relationships, strengthen brand loyalty, and improve a company’s reputation.
The key lies in selecting the right gifts and targeting the right audience.
While we’ll look into specific strategies in a future post, it’s important to note that a well-crafted corporate gifting campaign requires careful planning and execution.
Now, let’s explore some real-world examples of how businesses have leveraged corporate gifting to their advantage.
Successful Corporate Gifting Campaigns
Here are a few examples of successful corporate gifting campaigns:
Infosys Honored Women Employees on International Women’s Day
In 2023, Infosys celebrated International Women’s Day by gifting personalized kits to their female employees. These kits included various items designed to empower and inspire women.
Results?
The campaign resulted in a positive work environment, increased social engagement among employees, and improved the company’s brand image as a supportive and inclusive workplace.
BharatPe Delivered Diwali Gifts to Customers
BharatPe, a fintech company, distributed special kits to their customers during Diwali. The kits included a two-playing card set and a personalized message from the company’s former founder, Ashneer Grover.
Results?
The campaign generated significant word-of-mouth marketing, increased social engagement, and helped to restore the company’s positive brand identity following a period of negative publicity.
Mitskind Healthcare Rewards Employees with Cars
In a recent case study, Mitskind Healthcare, a pharmaceutical firm based in Haryana, gifted 15 cars to their employees ahead of Diwali.
Results?
The generous gesture received widespread media attention and helped to improve the company’s brand image as an employer of choice. The campaign also boosted employee morale and engagement, increasing productivity and loyalty.
These examples demonstrate the power of corporate gifting to create positive impressions, strengthen relationships, and drive business success.
We hope these case studies have helped you understand how corporate gifting works and why, as a business, you should definitely think about implementing these campaigns for your organization as well.
