WHY CORPORATE GIFTS SHOW YOUR CUSTOMERS YOU APPRECIATE THEM
Research has shown that giving thank you gifts and free items with purchase to customers have a direct impact on word of mouth marketing. Word of mouth marketing can increase your reach by 15%. While most consider word of mouth marketing to take place on social media, 9 out of every 10 brand mentions happens face to face.
Consumer buying research suggests that people would rather get more than spend less, so a thank you gift with a significant or targeted purchase can have a big impact on brand loyalty.
To learn more about the impact of corporate gifts on recipients, you can read the 2019-2020 Knack Business Gifting Strategy Report.
Here are some of the key summary points:
- 57% of respondents say gifts can impact both positively and negatively
- C-suite executives appreciate gifts the most
- Range spent on a C-suite gift is between $50-$150
- Junior level partners $50-65
- Presentation matters – think about packaging and shipping
- Giving gifts humanizes your company
- Avoid political or emotionally charged gifts, it often backfires
The overall summary of the report is that corporate gift-giving is an important tool in retaining customers.
The overall research into the impact of corporate giving indicates it has a significant impact on your bottom line. When done correctly, can have a significant return on investment, increase brand loyalty, maintain customers longer, and improve business to business relationships.