As a corporate entity, regardless of whether you’re a start-up or an established enterprise, you get to share happiness with many people– from employees to clients and vendors during this festive season.
Corporate gifting is an effective corporate governance best practice since it entails appreciating one of the most crucial elements of a business – its people.
When you curate a gifting strategy that is thoughtful and personalized, it fosters an emotional connection with your brand. If that’s the vibe you’re looking for, then let’s discuss a few corporate gifting best practices to ace thoughtful gifting!
Five Corporate Gifting Best-Practices to Keep in Mind
According to a recent study by Forbes, 80% of the companies felt that corporate gifting has significantly enhanced client relationships, and 48% of them reported a significant improvement in customer loyalty, especially during the pandemic when virtual is the new normal.
Aside from strengthening community relationships and improving morale, corporate gifting also fosters a sense of ownership and emotional connection with your brand, making it all the more important to get it right.
There are a few things to keep in mind while deciding on the right gifting strategy.
1. Know your compliance laws
To know what’s acceptable, unacceptable, and grossly unacceptable is crucial before deciding on the gifting plan. Therefore, it’s wise to have a brief discussion with your HR/Compliance Team regarding the rules of corporate gifting before allocating the budget.
If you have a global presence, you should also beware of what’s unacceptable as a gift in certain countries.
Acceptable gifts are generally of nominal value or are perishable and within the legal limits and the company’s gift policies. Unacceptable gifts, are on the other hand, excessively lavish over and above company gift policies, solicited or construable as bribes.
Keeping it sweet and simple is the right attitude; after all, happiness does come in small packages!
2. Gifting for external parties
When it comes to gifting for people outside your company, viz., clients, vendors, business partners, service providers, etc., ensure the gift is small and thoughtful.
The nature of the gift should be more welcoming and appreciative rather than unsolicited and overblown.
It’s essential to let your clients know that you value their trust and solicit their continued support for your plans and development.
The best way is with a sensible corporate gifting plan that aims at conveying that message as effectively as possible, within the permissible gifting limits.
3. Employee gifting
When it comes to company-wide gifts or gifts within a team/region, it is vital to ensure that the value/benefit of the gifts is similar for all the employees.
While planning more significant gifts for experienced staff is acceptable, it’s critical to ensure that the gifting plan doesn’t discriminate against others.
Before zeroing in on your gift, it is a prerequisite to get your doubts cleared. Whether the said gift would make the recipient feel uncomfortable? Would the gift be workplace-appropriate? Is it capable of being construed as favoritism or bias?
When you’re sure that the gifts are nothing but appropriate, then you can have your corporate gifting strategy rolled out.
4. Cut down the excesses
Extravagance in gifts could send the wrong message and even cause unease in people. For employees or prospective clients, expensive gifts could make them feel indebted to you which could wreck the relationship.
Small doesn’t imply cheap. On the contrary, keeping your gifts small and personal would augment business relationships in a way that doesn’t feel forced or obligatory.
Corporate gifting should ideally focus on expressing gratitude and garnering mutually-benefitting, lifelong relationships with people. Customer satisfaction twinned with high employee morale could make your reputation soar.
To win their hearts, fair and square, without any ulterior motive should be the sole objective of corporate gifting. But, unfortunately, there’s no secret ingredient to that.
5. Automation and branding
Corporate gifting involves planning and organizing gifts for lots of recipients, leaving your marketing and HR teams all frantic and confused.
To ensure a hassle-free gifting strategy, you need an automated gifting assistant that’d manage every aspect of gifting from planning to timely delivery.
Effective automation and thoughtful personalizations would make the gifts attractive and your efforts worthwhile. The recipe for a successful and productive corporate gifting strategy is simple:
- Keep your gifts simple and budget nominal.
- Add in personalizations.
- Automate and integrate the AI with your CRM.
- Sign, seal and deliver under your company logo.
But any gifting assistant will not do. What would do is a dynamic gifting assistant that makes an actual impact with gifts. You need a gifting assistant that drives your ROI and uses gifts as a means to a larger end. That helps you focus on building relationships and reputations in real-time.
No, it’s not magic. It’s Eva. Well, it’s Eva’s magic!
Reimagining Gifting With Eva
Eva is a gifting powerhouse that manages everything about gifting, from curating the right gifts to ensuring delivery and collecting feedback. Eva’s super-efficient gifting algorithm perceives the recipients’ tastes and preferences through a set of fun questions and later designs a gift based on the inputs provided.
Via Eva’s way, the gifts are practical, beneficial, and something the recipients would undoubtedly love.
To further simplify it for you, Eva can connect with your CRM and send notifications on important events and festivities. You don’t have to break your head wondering if the recipients would like your gift. You only have to specify the budget and share Eva’s gift links with the recipients.
Also, Eva provides customized branding with handwritten notes to spruce up the gifting experience. Finally, in the rare instances when the clients are dissatisfied with their gifts, Eva sends another one with no extra charge!
The best thing about Eva is that it guarantees happiness. Eva never ceases to amaze, thanks to a library of regularly updated gifts based on Google ratings and feedback. From fine wines to pet toys, Eva has something delightful for everyone.
Try Eva now to make the best of corporate gifting!