Are gifts an expense or an investment?
There is no doubt that when you organise gifts, it will cost you money. That’s one way to look at it. But so do all marketing strategies - and a gift is a directly targeted marketing tool!
Strategically gifting the right gift at the right time, allows you the potential to market directly to your target group.
Not only will your gifts leave a great lasting impression, they will help to generate walking, talking advertising for your business. And we all know how valuable word of mouth referrals are.
But what is the ROI? There is a reason why the US corporate gifting market is a $22 billion industry ….(Popomaronis, 2014). It’s because it works!
It works because gifts help:
- strengthen ties
- build trust and respect
- evoke feelings of value and appreciation
- improve business connections
- generate greater staff efficiency
All of these reasons are becoming increasingly important in the modern business world - a very relationship centric space. Investing in gifts isn’t about the money invested in the products - it’s about investing in you and investing in your brand to help you stand out from the crowd.
So think again, are gifts an expense or an investment? The answer - its all about perspective. See if you can flip your perspective today!
Popomaronis, T. (2014, November 14). This $22 Billion Industry Is Dying. Meet the Startup Reviving It. Retrieved from Inc.: https://www.inc.com/tom-popomaronis/this-22-billion-dollar-industry-is-dying-meet-the-startup-reviving-it.html