Corporate Gifts are an Integral Element of Customer Satisfaction

 

The business does not operate in a vacuum. In it is an organism that thrives to survive in an intricate ecosystem of relationships. These relationships may include regulators, service providers, suppliers and customers. It is generally against the law to offer anything of value to regulatory officials over and above the official payments in most countries. However, corporate gifts can be an important pillar that supports a business’ customer strategy. They are also important in cementing business relationships with suppliers and other service providers.

Suppliers and Service Providers

Every business depends to some extent on supplies from another company. There are several instances when it is necessary to win the heart and mind of the supplier, for example, if the raw material in question is in short supply. Corporate gifts can be used a gesture of business friendship, and over time the business may be able to obtain certain business privileges from the supplier. Where the business has managed to build a strong relationship with the supplier, it is possible to negotiate marginal reductions in the cost of raw materials, as well as ask for more favourable credit terms. Even if the business does not employ any physical raw materials in production there are a number of services that it still requires. Frequently handing out corporate gifts may result in the service provider performing more exceptionally because everyone wants to feel that someone cares for them.

Customers

Customers want to feel special, and they want to be treated like kings. Corporate gifts are therefore an effective way of pleasing them. The economic term ��there is no free lunch’ is generally well understood in commerce so when you surprise your customers with freebies, they are taken by surprise and really start perceiving your business differently. You are able to create more customer satisfaction, leading to more sales and profitability. Freebies can also be used during the process of redressing customer complaints. It tells the customer that the business cares after all.

Best Time for Giving Out Freebies

It is generally good practice for the business to keep a stock of items that it gives out to customers or service providers time and again throughout the year. A service provider can be offered a small gift because they have called their technicians during a public holiday to repair a broken down server for example. An organisation can give out a gift to a customer who has referred more customers to them. However, the business should make a note to offer corporate gifts to customers during more popular holiday seasons such as Thanksgiving. This shows that the business has a human side, and it cares a lot about its customers. While it may be difficult to spend money on the entire customer base, a business with a segmented customer base may spend more on customers who bring in more value.

The Effect of Corporate Gifts on the Bottom Line

Corporate gifts do not have to be too extravagant. If you have some creative people within your marketing team, then they should be able to do quite amazing things with a modest budget. Freebies do not necessarily mean flying out the whole customer base for a holiday. It is all about the small things, the unexpected things. Do not give your customer something that they already have in their hand or man bag. Make it special, and special does not always mean expensive.