Fall is nearly here, which means the holidays are right around the corner! Get ready for decked halls, celebratory countdowns and of course, gifting. When it comes to the merry season, your clients aren’t just looking to gift to friends and family, but also customers or employees. In fact, a recent study by Knack shows the corporate gifting market is worth a staggering $125 billion. A thriving market to tap into, now’s the time to channel your inner Santa and become your clients’ business gifting guru.
Before giving you the inside scoop to steer them in the right direction, let’s go over some important guidelines.
Business Gifting Guidelines
Businesses can use corporate gifting to show appreciation and loyalty, build goodwill and express the value of their relationships. However, before you start shopping, think about these three things:
- The Relationship: Think about the recipient of the gift to determine an appropriate type of present, regarding the relationship at hand.
- The Budget: Check company gifting policies for any budget limits that may be in place. According to the same study above, the sweet spot for many businesses is between $50 to $150.