The purpose of corporate gifting is to enhance relationships with clients or employees while also fostering goodwill, ultimately leading to increased engagement and loyalty.
However, scaling gifting programs while maintaining their efficacy is a challenge. In many instances, despite the investments made, the outcomes might not live up to expectations, with companies essentially pouring money down the drain.
Time and Money Spent on Buying Gifts
Large companies either allocate significant time to gifting or sacrifice personalization for generic swag to save time — but that reduces the value.
A study conducted by Giftpack revealed that businesses spend 47 minutes per employee to complete the process of gifting, including sourcing, logistics and tracking. Businesses spend 32 minutes per client to accomplish this same set of activities.
Personalization Is Key
Gifting enhances relationships, but without personalization it is no different from a mass giveaway. Personalization makes it a memorable experience for every recipient.
The way to make corporate gifting efficient is to use a tool that manages recipient engagement, sourcing, delivery, tracking, feedback collection and tax calculation. AI-powered platforms like Giftpack can make this seamless, while also making sure recipients see value and feel appreciated.
What Are the Most Popular Gifts?
DIY items like personalized painting experiences, baking and gardening adventures, books, alcohol gift sets, and planet subscriptions are popular. These add a thoughtful touch, making a lasting impact.
Employees and clients are more into lifestyle and experience gifts now more than ever, rather than an item that may go untouched.
Companies Could Be Wasting More Than $100,000 on Client and Employee Gifting Combined!
Corporate gifting expenses are divided into three main areas: labor, procurement and logistics.
The primary reason corporate gifting expenses often go to waste is that recipients don’t feel appreciated or see the value. And it is due to the absence of personalization, which results in the gifts being forgotten or discarded.
When gifts don’t bring joy or create a lasting impact, efforts may end up being in vain. This often prompts companies to send more gifts, which can quickly add up in terms of time, money and effort. Consequently, significant investments, like $100,000, can be spent without achieving meaningful results.
To truly make an impact, corporate gifts should be filled with heartfelt sentiments that deeply resonate with the individual, ensuring they are cherished and valued for years to come.
Archer Chiang is CEO of Giftpack, an AI-powered gifting platform.
Photo courtesy of Giftpack