Use our corporate gifting guide to explore the most effective ways to make your brand stand out and boost your ROI.
There will inevitably be moments in your business journey when you encounter an employee who embodies excellence, a client deserving of more than just a simple “thank you,” or a prospect you wish to engage with further. In these instances, your response is critical, as how you reciprocate can significantly influence the growth or stagnation of your organization. Corporate gifting offers a meaningful way to nurture these important relationships and connections in the workplace.
In this guide, we’ll explore the concept of corporate gifting, how to run effective corporate gifting programs, and how to leverage a gifting platform to its fullest potential.
What is Corporate Gifting?
Corporate gifting is the practice of expressing gratitude or showing interest to a business partner, client, employee, or prospect through a physical or virtual gift that reflects your business identity. To enhance the effectiveness of your gifting strategy, you can incorporate current trends to better understand the preferences and needs of your customers, staff, and clients, ensuring a more personalized approach.
Ideal Times for Corporate Gifting:
Some of the best opportunities to send a corporate gift include:
- Work anniversaries
- Corporate milestones
- Personal occasions, such as birthdays
- Holidays
- Onboarding new employees
- Incentives (for Sales, Marketing, and HR achievements)
From custom books to personalized inscriptions and engravings, you can add unique touches to your corporate gifts that reflect your brand’s character and personality.
Do You Pay Taxes on Corporate Gifts?
The tax implications of corporate gifting vary depending on the country, the type of gift, and its value. In some cases, gifts may be tax-deductible, but it is essential to consult with a local tax professional for specific guidelines on what deductions you can claim.
When incorporating tax deductions into your gifting strategy, it’s crucial to maintain records of your corporate gifting expenses and document the business purpose behind each gift. This will help ensure you remain tax-compliant.
What is a Corporate Gifting Program?
A corporate gifting program is a well-organized initiative that companies use to give gifts to clients, employees, partners, or other key stakeholders. These programs are designed to strengthen relationships, show appreciation, celebrate milestones, or mark special occasions.
By implementing a corporate gifting program, you can boost employee engagement and retention, build stronger business relationships, and turn prospects into loyal customers. The structure of the program depends on your company’s needs, but a gifting platform can help simplify the entire process.
For example, an international gifting platform enables you to browse an extensive catalog of gifts, select a curated collection, and share a gift link with your recipient. Once the recipient accepts the gift, they can choose an item from the pre-selected options and provide their delivery details directly, ensuring accuracy. For increased brand visibility, you can also create a custom landing page or email to deliver the gift link.
Free gifting platforms allow businesses to get the joy of gifting without the additional expenses of annual subscriptions and contracts – talk about a win-win! So, let’s explore the spotlight-stealing features of four of the best free gifting platforms.
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