I don't know about you, but I love getting gifts and I love giving gifts. And you can be sure that your clients do too! The problem is, it's not always clear what to get for people. Trying to figure out what to get for your clients or employees can be stressful and time-consuming.
But the way you give gifts to someone says A LOT about your relationship with that person. Giving a meaningful, luxe gift can help build and reinforce relationships with clients while at the same time conveying a message of appreciation and value.
I know what you are thinking, “but the money that I put into buying upscale client gifts could be better used in another part of my business and can actually create profits.” Despite what you may think, giving meaningful gifts to your clients is also a very profitable strategy, one that increases client retention and can strengthen your long-term business relationships.
So why do we give gifts?!
Gift giving is the practice of presenting an object or objects to another person without the expectation of payment. Although gift-giving has become something of an art form, the practice can be traced back to the beginning of civilisation – it is thought to have even pre-dated human civilisation. Cavemen would give gifts to one another to help strengthen social connections and show appreciation. It is also a practice that transcends culture with evidence of gift giving in Native American, Ancient Egyptian, Ancient Greek, and Medieval societies.
There are many reasons why we give gifts. At times, it is because of an important event such as Christmas, weddings, anniversaries, or a birthday. Other times, it can be to nurture your connection with someone. Some of the reasons why someone would want to do this are to establish and nurture relationships, to show love and devotion, for symbolic communication, to help others, or even to just receive something in return (a little less selfless compared to the other reasons).
Gift giving reflects the relationship between the giver and the recipient. Some sociologists even say that we only give gifts to relationships that we find important and want to see thrive in the future. But gifting is not just about the gift itself. It's also about the message the gift conveys. And the key message underlying all these reasons is an expression of appreciation and gratitude for the recipient.
Gift giving is a powerful way to communicate feelings and express appreciation for a person. Building and reinforcing relationships through gifts is an essential part of social interaction. When done right, it can bring people together, inspire loyalty and establish trust, especially in business.
But research shows that buying a more expensive gift does not mean it will be well-received. Always keep in mind, the value of a gift isn't what it costs but the thought behind it.
Talk About Type of Gifts
According to research from the University of California, there are four main types of gifts and all of them have a different significance:
- Symbolic of the giver: gifts that reflect the interests of the giver (you) and show very little knowledge of interest in the receiver.
- Symbolic of the receiver: gifts that reflect knowledge of the recipient’s preferences and interests.
- Symbolic of the occasion: gifts that are given for specific occasions such as birthdays, Christmas, anniversaries, etc.
- Expressive and containing significant meaning: gifts that are more personalised and typically reveal the giver’s feelings towards the receiver. These are not always suitable for a business or workplace environment.
It is argued that the most favoured gifts are those that are symbolic of the receiver whilst the least favourite gifts received are those that are symbolic of the giver. You will get bonus points if you are able to gift your client with something that they want but wouldn’t have necessarily bought for themselves.
You want to make sure that the gift you give is one that they will receive well. Research shows that a bad gift can negatively impact the relationship with your client. Giving your client a gift that they neither want nor to need shows that you have not taken the time to get to know them, their needs or their interests. It can even negatively impact the longevity of your relationship with them
The most popular types of company gifts are personalised, branded, and luxury items. When looking for meaningful gifts for clients, try to choose gifts that are relevant to your company's purpose and your relationship with them. This will reinforce the benefits of the work that you do together.
Unique gifts are often more memorable than generic gifts. When your clients receive a unique item, they feel important as a result. One of these easiest unique gifts for clients is items that have been personalised with their name or initials. It is a gift that is truly just for them.
This is one of the key benefits of the Bespoke Gifting Service. We will make sure that your clients receive luxe gifts that are not only personalised but also resonate with them.
Benefits of Giving Your Clients Gifts
Although it may seem time-consuming and costly, thoughtful gift giving can be a profitable strategy for your business. When clients receive a unique, high end corporate gift, you could potentially see a return-on-investment up to 40%.
Thoughtful gift giving can create a 5% increase in customer retention which can boost business profits by 25-95%. Studies have shown that when clients receive a memorable business gift, they're more likely to choose that company over a competitor in the future. It is extremely common for customers to switch brands if they feel under-appreciated. When you give meaningful gifts to clients, they associate positive feelings with your company, thus creating a sense of loyalty.
In the 21st century, social media has become a part of everyday life and is a powerful platform to help businesses. So, when a user such as your clients are treated to a special experience, such as receiving a personalized luxe gift, there is a high possibility that they will share this experience to their social media accounts and reach new viewers who you may not have reached before. These are unique opportunities to convey the importance of your relationship with your client or display the kindness that your business shows those that they assist. Both can be very appealing to prospective clients.
But beyond the financial benefits that gift giving can have for your company, the biggest benefit is humanising your business. Gift giving is one of the best ways to start, develop and nurture relationships with current and potential clients.
It does not matter whether you are selling a product or service, ultimately your clients are human, and love being thought and reminded of their value. Gift giving shows that you have gone the extra mile for them, which will increase their trust in you as someone who values their business. This can be the difference between a long-term client and one who decides to choose your competitor.
One of the most important things you can do as a business is to be the type of company that your clients want to work with. Many people don't realize how much relationships influence our decisions in life. You want to build relationships with your client that are more than just them being a source of revenue.
Gifts are an act of generosity that can make your clients feel valued which in turn makes them want to continue doing business with you. In the world of business, that is invaluable.
The next step....
The act of giving a gift has the power to connect, change, and transform your business relationships.
Your client does not expect anything more from you than the product or services that you deliver so receiving a little something extra has more of an impact than you may realise. It shows your clients that you have gone above and beyond to show them your appreciation. And that counts!
But we understand that finding unique high end corporate gifts for your clients can be time-consuming. And on top of that, it can be difficult to find the perfect custom gift for each client. That is where our Bespoke Gifting Service can help you!
Bespoke Gifts are customer focused boxes that are personalised and designed to your client’s preferences and interests. You can be assured that these are neither ordinary nor generic. Our gift boxes are created to be used rather than just chucked in a drawer to never be seen again. From the upscale client gifts to a unique unboxing experience, you can be sure that the Bespoke Gifting Service is nothing less than memorable.