Whether you intend to thank customers for their patronage, show appreciation to vendors and investors for productive partnerships, or recognise employees for their contributions, corporate gift giving fulfils an essential purpose: to strengthen the relationship between giver and receiver. Veteran businessmen see it as an essential component of their corporate branding strategy. If done properly, gift-giving can be a subtle yet potent and cost-effective way to nurture a fruitful partnership.
Oftentimes, the pressure that comes with corporate gift-giving stems from deciding the best item to give. If you wish to maximise the power of this tactic for your business, consider these three tips to finding the right gift:
1. Make sure it’s appropriate. You certainly don’t want to give anyone the impression that you are bribing them. Neither should you make anyone feel obliged to return the favour. Look past the dollar transactions you’ve had together.