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8 Essential Elements of Corporate Gift Buying
At certain times of the year, corporate gifts are offered as gifts for new suppliers, gifts sent to customers for appreciation, gifts to employees and managers, and the list continues. If you give the wrong gift, you can put it in the bottom drawer. Worse, the wrong gift can upset someone. The good news is that there are ways to choose a thankful gift and strengthen your relationship.
Online and retail products can be purchased, making it easy to purchase the perfect company gift to your customers. But choosing a variety of gift ideas comes with a dizzying choice. Before you find the perfect company gift for your customer, you need to know the essentials of buying a company gift.
According to the American Express Semi-Annual Small Business Monitor’s OPEN, the best corporate gifts are:
- Card or calendar (49%)
- Gift certificates from retail stores or restaurants (26%)
- Company brand items (23%)
- Fruit or food basket or charity donation (all 18%)
- Flowers or plants, wine or alcohol (10% bundle)
Before you run out of “try and true” corporate gifts and buy them, consider these 8 essentials to buy business gifts.
1. Company policy check
Many companies and government offices have a gift policy that limits or prohibits the dollar value of gifts. Check with the recipient to see if gift giving is limited.
2. Desired decision
Knowing what to buy corporate customers is the biggest challenge in buying business gifts. In most cases, it is difficult to identify customers personally. The best way is to call the customer, ask what they like, hobbies, etc. and get a great idea of what to buy.
3. Consider cultural differences
Each country and culture has rules for purchasing corporate gifts. In China, for example, gifts should not be wrapped in white because they symbolize death.
4. Quality pursuit
All business gifts you send are reflected in the company image. Avoid low-quality gifts that can damage your image. Buy quality products without losing your budget.
5. Using handwritten cards
In this hallmark era, it is so easy to simply send a card with a gift and signature. To make a lasting impression, add handwritten notes to share your thoughts.
6. Spending on packaging
Gift packaging is as important as choosing the right company gift for your customer. Spend time and money on packaging to reflect your value for customer relationships. If you don’t have the talent for gift wrapping or don’t have time, use many of the gift wrapping services offered by retail stores and shopping malls.
7. Personally provided
If the list of business gifts is not too large, consider delivering the gift personally to the intended person. Personally presented gifts remain a top priority with our customers.
8. I know the IRS deduction
Business gifts in the United States are eligible for tax deductions of up to $25 per person per tax year. This does not include incidental things such as gift wrapping or mailing. Different rules may apply depending on the type of business structure (e.g. partnership). Be sure to review IRS Publication 463.
Corporate gift offerings are an opportunity to connect with customers, strengthen relationships and share holiday cheers. Taking a donation attitude makes buying corporate gifts less stressful and more fun
