If you’re thinking about giving business gifts this year, now’s the time to start planning. You’re not alone — this according to research PPAI has just completed with the help of Louisiana State University and Oregon-based Glenrich Business Studies on the business gift market. Figures from 1991 found that just 48% of businesses gave business gifts, but as of 2007 more than 80% are giving gifts.
Here are some of the reasons behind the choice to use business gifts…
- To thank customers
- To build goodwill
- To develop business
- To recognize employee performance or length of service
- To generate referrals
- To influence buying decisions
- Because customers expect them
If you do decide to buy business gifts, office and business accessories are popular items, as are gifts for the home. You want a gift that is a quality reflection of your business, and that will either appeal to the broadest range of people possible or that reflects what you know about your own customer’s interests. Some choose the gift based on the level of management (higher ups get more personalized, more costly gifts) within a customer organization.
The survey confirmed that buyers of business gifts do find they are an effective way to promote a business. A tangible item that conveys a message and a favorable image of your business that seems to linger in the recipient’s mind.
And in these days and this economy, such small gestures can truly go a long, long way.