Business Gift Practices

Does your company give business gifts? Have you been thinking about this? There are many reasons to give business gifts and the practice is pretty wide spread. Here is some information you might find useful as you consider whether it is worthwhile to give business gifts.

-According to research studies 84% of businesses engage in giving business gifts. Senior level management was responsible for deciding to give gifts 53% of the time, sales 38% and other departments the rest.

-What is a business gift? The study found that users and recipients define gifts the same way 96% of the time, a branded personal use item given to establish good relationships and high retention rates with clients and employees.

-When do you use gifts? The number one time to distribute business gifts was found to be end-of-the-year holidays, with special occasions/events as close second.

-Why give gifts? The most common response in the study was “to thank customers” But the list below shows that gifts are used in a variety of ways:

To thank customers- 70%

To build goodwill- 65.9%

To develop business- 49.6%

To recognize employee performance/longevity- 49.6%

To generate referrals- 31.3%

To influence purchasing decisions- 21.6%

-Is giving gifts worth it? 78% of the study participants said they believe business gift giving is at least “somewhat effective” in achieving the goals that motivate the initial purchase of the gift.  However, the number shoots up to 91% when you review the category of buyers who actually measured their business gift giving results. 57% claimed that the practice of gift giving was either “effective “ or “very effective”.

Those are the facts about gift giving…if you would like to consider gift giving and need some help getting your program started give Catch Fire Marketing a call at 303-789-4663.