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Increase Your Bottom Line with Corporate Gifting
In many cases, business owners can come up with several traditional ways to improve their bottom line. Some may cut expenses, relocate for cheaper lease options or even cut back on employees. With many corporate budgets being so tight, why consider corporate gifts and how can this expense improve the budget? How can you justify spending money on gifts when it’s not absolutely necessary? In this article, we will find sure fire answers to these questions and analyze the facts and benefits behind corporate gifting.
We all know that a business thank you gift is no scientific evolution. Generally speaking, corporate gift giving is a payment which benefits potential clients, partners, employees, employers, and associates. So far, the benefit doesn’t seem to be for the business owner. In this case, why should corporate gifting be of any value? Well, here are a few good reasons to chew on:
• To keep employees. Employees are expensive. Recruiting employees is expensive because you have to spend money on advertising and/or agencies to find the employees and test them for employability skills, personality compatibility, drugs, and criminal background. Training employees costs even more money. And there’s no substitute for an employee that’s been around for a while and knows how things work. Finally, employee turnover is bad for morale and occasionally brings with it nasty law suits. Not to mention all of the problems caused by understaffing. So it makes sense to invest a little money in corporate gifting. Go ahead and get your exemplary assistant a fancy leather business card holder or even a nice gift the whole family would enjoy like a picnic basket. Rest assured, this noble alms will make your employees feel like you’ve gone out of your way for them and you appreciate them.
• To keep clients. Finding good clients can be just as expensive as finding good employees. Once again, you often have to revert to extra advertising and/or networking. You may have to go through several new clients to find one as good as one you’ve lost. And then you have to spend time educating them and breaking them in, or getting used to their policies. In the mean time, your business is less stable, and that can cause all sorts of problems. Losing a client is also bad because they may take their friends with them... Or at the very least, cease to bring you other client by recommending your company. So when you lose one client, you lose quite a bit. Keep your good clients by treating them well, doing good business, and giving them that grand slam corporate gift basket or even company engraved business gifts. It only makes sense.
• For good public relations. If you’re nice to people, they’ll spread the word, and it will give your company a good image.
• Just to make people feel good. Some people believe there’s no room for altruism in business. That’s a shame. When they start to put money first and people second, it withers their souls. They’d do best to remember what’s really important.
The making of business gifts have been standard practice in all sectors of business and helps to build and establish lasting relationships for development. When a company has invested in implementing and maintaining a corporate incentive program it benefits everyone. Employees generally feel appreciated which in turn increases moral, clients feel important and you plant a seed of good will and if you are generous in business; generosity will come back to you. Now, take all these factors and add them up. With long term employees, clients that will return to you for services and the public who will spread the word of good cheer for your enterprise, it all adds up to a black bottom line.
About the Author: Leah Lee is editor for Corporate Snobs.com. For more unique business gift ideas, visit us today!