Building Client Relationships: Effective Corporate Gift Strategies for SMBs

Small and medium-sized businesses (SMBs) face fierce competition. Thus, it’s crucial to create a lasting relationship with clients. But how can you do this? You can provide exceptional services to make your business stand out. And how about thoughtful presents for your clients? These are an excellent way of building goodwill. 

Corporate gifting is a priority among many businesses. Its market reached about USD$ 242 billion in 2021 and is projected to grow at a compounded annual growth rate (CAGR) of 8.1% through 2024.

But finding the right gifts can be quite tough. Generic ones may not make a lasting impression. You wouldn’t want to give items that’ll be tossed aside immediately and forgotten. Neither would you want your budget overstretched in a bid to get the perfect gift. 

Corporate gifting done strategically has the power to create solid bonds. It can also make your brand linger in clients’ minds forever. This article explores incredible tips to get the most out of this strategy.

Photo Credit: Shamblen Studios

Corporate gifting and its power

Corporate gifts show how much you value your clients. These items help your organization create a deep emotional connection with them, which oftentimes leads to your clients being loyal to your brand. 

Gifting is a proven sign of commitment to client satisfaction. It shows you’re concerned about how they feel. Investing this way into your relationship with the client builds trust. They get the point that you see them not merely as revenue-generating objects but real humans with feelings that need to be catered to. 

One of the best thank you gifts for clients is these curated boxes that pack several items suiting the recipient’s specific interests. But remember that if you want to express your gratitude this way, working with a reliable supplier is a must. They can also help you personalize the gift box, message card, and gift items with your own company logo.

When clients receive your gifts, a sense of reciprocity is triggered. This prompts them to return the favor. How? By making repeat purchases and, of course, staying loyal to your brand. They’ll also speak positively about your company – that's free word-of-mouth advertisement right there! 

Furthermore, corporate gifts positively influence brand perception. It makes your company look considerate, generous, and committed to building lasting relationships. 

Gifting is also tax-deductible. The IRS allows companies to deduct gifts of up to USD$25 for each person per tax year. 

Budget-friendly strategies

Many businesspersons tend to think corporate gifts must be expensive. That’s not the case. Affordable gifts can also make a big impact. What matters is if they’re practical and useful to your clients.

Examples of gifts that won’t break the bank include gourmet snacks, high-quality coffee, and a handwritten thank you note with a small treat.

Prioritize items that your clients are interested in or use in their typical work. Examples include stylish pens, notebooks, and tech accessories like portable chargers, headphones, laptop stand, and wireless earbuds. These show that you understand their needs and are willing to help them. 

When working with a limited budget, consider personalizing your gifts to make them more impactful. One effective personalization tactic is including a handwritten note with the client’s name and a candid note of appreciation. It shows that you took the time to make the gift unique, and clients will appreciate this.

A survey revealed that, in 2021, about 18% of businesses spent USD$100 -125  for corporate gifting, 15% spent USD$125 –150, and 9% spent more than USD$150. These ranges are certainly within reach for most businesses.

Create lasting impressions with experiential gifts

Of late, corporate gifting has seen a shift towards unique, memorable experiences rather than physical items. Why? They create lasting memories. 

You’d want to tailor the experience to your business niche. For instance, if you run a software company, you can offer a free workshop or consultation session. And for a marketing agency, a ticket to an industry event may suffice. The client enjoys the experience while you get to showcase your expertise.

Gifting experiences also lets you meet with your clients and bond. The emotional bond created as you spend time together goes a long way to cementing you as a trusted partner, not just a vendor.

Another fantastic option is taking your client on a local trip. Make sure they eat at a decent restaurant serving fine food. It pleases your client while also creating positive brand relationships with local businesses.

Photo Credit: Shamblen Studios

Timing is everything

Timing your gift can make a significant difference in how it’s received. Consider critical milestones in your client’s life. Wedding anniversary. Birthday. Successful completion of a project. Graduation. Any other special day! Sending them gifts on such special occasions paints you as a caring businessperson who knows what’s happening in their clients’ lives.

You can also time your gifting with industry-specific events. For instance, if you get wind of information that they’ll be attending an upcoming trade show, consider gifting them before the event kicks off. You can also hold a debriefing session with them after the event. It’s one way of showing them you understand their business and are more than willing to support them.

The time of the year also matters, especially for season-sensitive gifts. A winter-themed gift basket with items like high-quality socks, scarf, and gourmet hot beverage would fit the start of the chilly months, showing your sensitivity to their needs. 

Conclusion

Corporate gifting is your hero if you want to build strong client relationships. This, in turn, boosts your business’s bottom line. Choose the right, most thoughtful items, personalize them, and get the timing right. In exchange for this heartwarming gesture, your clients won’t hesitate to give you their trust and, most of all, their loyalty.

But things don’t end after delivering the gift. Follow up and check whether the clients enjoyed the presents. Asking them for their feedback won’t also hurt. This way, you’ll know how to do it better the next time around.