Blog

    Business Gifts Build Relationships

    Posted by brian on 09.27.2021

    Employee Gifts

     

    As many companies are still postponing events and group travel due to the pandemic, gift-giving remains an important way in which companies thank, reward, and recognize their employees and customers.

    According to the Incentive Research Foundation (IRF) non-cash gifts such as merchandise are increasingly important. For the third straight year, the average spend on merchandise per employee is $160. The most popular categories are:

    Employee reward choices

    What CEOs Believe*:

    An overwhelming majority – 94% - of CEOs believe that business gifting is an important component in building customer relationships that lead to business success. So much so that they’re willing to spend their own personal time and allocating budget to building those relationships.

     

    What Recipients Say:

    • 77% say that business gifts make them feel appreciated
    • 67% believe the gift demonstrates that the giver values the relationship
    • 59% believe the giver thinks they did a good job
    • 40% report increased loyalty and intention to work with that company longer
    • 40% report feeling more connected to the business partner – and this increases to 50% when the gift is “memorable”

     

    What is “memorable”? Three factors that most positively impact a recipient’s opinion of a business gift are:

    • Belief that the gift was selected just for them
    • A personal message with the gift
    • The recipient’s name or initials on the gift

    And yet, when asked about recent gifts they received:

    • 65% say the gift was definitely not selected just for them
    • 54% did not include a personal message
    • 76% of the gifts did not include their name or initials

    *Source: Business Gift Strategy Report

    While many companies give gifts at the Holidays, there are many other times in which gifts can make a special impression:

    • Employee or company anniversary or milestone
    • Completion of a special project
    • Employee or customer birthday
    • Birth of a child

    Business gifts can make an impression positively or negatively, so it’s important to have a thoughtful and professional business gifting strategy. All Star Incentive Marketing has years of experience in providing the perfect gifts for any audience – and draws on the experience of the recognized name brands that we represent. Contact us to discuss your gifting strategy today!

     

    Topics: merchandise rewards, Reward and Recognition, reward program, employee gifts, customer gifts

    Subscribe Here!

    Recent Posts

    Posts by Tag

    See all