Deciding just how much to spend on a corporate gift can be very challenging, especially in the UK. With the changing economic climate, wanting to find the right balance between your generosity & how appropriate that gift may be can create problems for those looking to order a corporate gift. It doesn’t have to be so difficult...
We’re here to investigate just what key information helps you determine how much you should spend on your next corporate gift.
What Is Corporate Gifting & Why Do Businesses Use It?
Corporate gifting is all about relationships. Building trust, keep a business in mind, to reward hard work. There are countless triggers that can start the corporate gift process, but the end goal, often, is to strengthen the relationship between individuals or businesses. Determining what it is that you’re looking to achieve when you’re carrying out corporate gifting is a key factor in determining your final budget for an appropriate gift.
Take A Look At Your Own Business
While it is easy to focus on who you’re buying for, sometimes you need to look inwards. Consider the cost of goods that you yourself as a business deal in, alongside the industry you operate within. If you’re just beginning your life as a business you may want to put a large marketing cost behind this venture. Or, if you operate within the financial sector you may be bound by certain laws depending where you’re located. It may be worth asking around people you know in the industry for any unwritten rules you may not come across otherwise.
How To Establish A Reasonable Budget
If you allocate a reasonable amount of money towards your corporate gift it shows that you haven’t looked to save money on this process, insinuating that you've taken care & attention in choosing a corporate gift. If you’re looking to add corporate gifting to your client acquisition or marketing process, this can be anywhere between 1% & 5% of your annual revenue. Keep in mind you do not want to spend overzealously to prevent this process heavily effecting your business finances.
The Difference Personalisation Can Make
If you have taken the time to make your gift unique to the individual receiving it this can add an incredible degree of value to the recipient. Personalisation consists of adding your branding, their name, a thoughtful gift message or any other creative way you can help make it personal to them. Yes, customised individual gifts may come at a cost, but they can make a difference in terms of the sentimental value. The longer the positive impression you leave, the better to assist in forming long term business relationships.
Hampers in Corporate Gifting in the UK
Gift hampers have continued to prove popular in recent times, especially in the UK. Hampers offer the potential to add countless artisan food & drink treats inside. While you can add thoughtful gift messages to add a layer of personalisation to your gift, this level of personalisation is increased by choosing a hamper to match the recipient’s tastebuds. If you’re shopping for someone you know loves a cheeseboard, find a cheese gift hamper. Are you shopping for someone who prefers to avoid alcohol? No problem, find a chocolate hamper. Do they love prosecco? Add a fizz-filled hamper to your order to treat them.
The gift hamper world offers you so much flexibility, while also insinuating it is personal to them when you find the right tasty treats for them.
Consider The Rules
Although you might have fantastic intentions, corporate gifting can come with rules & regulations. Many businesses can innocently fall foul of over-spending on corporate gifts or accepting gifts that may not be deemed appropriate. It’s always worth checking your gift is compliant by checking your local authoritative website.
When you combine the purpose of your gift, the budget you have allocated and whether it’s personalised or not, now is the time to build relationships with an effective corporate gift.
Shopping On A Budget?
Take a look at our gift ranges according to budgets, whether you're shopping for something under £30, or a show stopping gift, click the range below for your budget.
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