Gift giving is a part of human society for thousands of years. In ancient times, tribal leaders would exchange gifts to form peace and to strengthen their relationships with each other. In current modern time, we exchange gifts on birthdays, holidays and other special occasions to depict our empathy. Although in corporate world, we use different terms for gift giving which are “corporate gifts” or “business gifts” but actually the purpose of personal or business gift giving is the same – to make the receiver feel special.
How the Strategy of Gift Giving Works?
Although there is a difference between gifts and coupons but they also share many traits. Let’s suppose a gift card; companies give people gift cards all the time with no string attached. For example, you can spend that gift money on your own or you can give it to someone else or you can simply throw it away – you are under no obligation. But people do not just spend the money from their gift cards but they spend more money from their pockets.
I have personally witnessed many people entering the stores with $20 or $30 gift cards and spending hundreds of dollars on different items. From business prospective, the purpose of these gift cards is to bring people inside the store. This strategy could be applied anywhere whether you have a physical store or a website. Numerous researches and surveys have shown that gift giving is 10X more effective strategy as compared to any other promotional campaign.
How You Can Adopt This Strategy?
Unlike the examples above, you don’t have to give everyone $20 or $30 gift cards but there are hundreds of cost efficient gift options. There are lots of corporate gift suppliers in Singapore that can fulfill your requirements. Gift cards are quite different than other promotional items and corporate gifts. People see gift cards as real money but they see corporate gifts (regardless of their price) as an item that they can discard if they don’t want it, don’t like it, or don’t want to use it.
That’s solely your job to give them something they want to use and they like. You need to find out the answers of these questions.
- What your target audience wants?
- What benefits your target audience would receive from your gifts?
- Are those gifts are highly useful for them?
- Are those gifts fulfilling their needs?
- Are you helping to make things better for them?
Never Compromise on Quality
Quality is one of the most important things in business – whether it is your products or gifts. As gifts are given to strengthen the relationships and they make the first impression on your target audience, you cannot possibly rely on a low quality gift. Even a low price yet high quality gift can do the work for you and a low quality gift can ruin your brand image. Also, consider your target audience and niche before selecting a suitable gift for them.
Look for a Singapore supplier of gifts that has a wide variety to choose from. Make sure that this company is reliable and only selects high quality stock because it may look great on the catalogues but disintegrate rapidly when delivered.