Corporate Gift Ideas
Corporate gifts can help boost employee engagement, show appreciation for great work and build a positive relationship with clients. But how can you pull off giving gifts within budget and on a reasonable timeline? Read on to learn tips for handling the logistics of corporate gift giving.
Determinte your corporate gift budget
The first step toward giving out corporate gifts is setting a budget. There are several helpful questions to ask when making one:
How much money do you want to spend per recipient?
The most effective and cost-conscious way to approach corporate gift giving is to figure out how much you want to spend on gifts per recipient. The Advertising Speciality Institute surveyed companies across the nation and found that half of them planned to spend $45 or more on each employee for gifts during the holiday season of 2016, while half planned to spend $25 or more.
Think about the funds your company has available, and then select a reasonable per-employee amount that will not break the bank while still allowing you to purchase meaningful gifts.
Will you spend more money depending on the professional tier of the recipient?
Think about whether you want to give specific gifts depending on the professional tier of the recipient, for example, manager versus hourly worker. Different types of gifts could be given depending on merit and accomplishments too, such as to sales employees who had an outstanding quarter.
The type of gift can also vary if you are giving gifts to clients. You could give a high-end item to a client that has been with your company for a long time, while prospects could receive gifts with the company logo to remind them about your brand.
New clients could also receive a different type of gift. Statistics show that companies are giving gifts to more of their customers. According to the ASI, companies gave gifts to an average of 184 clients and prospects during the holiday season of 2016, an increase from 154 clients or prospects the year prior.
Corporate Gift Tax Credits
The IRS allows tax deductions for corporate gift giving. Its rules state that:
“You can deduct no more than $25 for business gifts you give directly or indirectly to each person during your tax year. A gift to a company that is intended for the eventual personal use or benefit of a particular person or a limited class of people will be considered an indirect gift to that particular person or to the individuals within that class of people who receive the gift.”
It should be noted that incidental costs, which the IRS considers most gift wrapping or basic packaging, are generally not counted toward that $25 limit.
“A cost is incidental only if it doesn’t add substantial value to the gift. For example, the cost of gift wrapping is an incidental cost. However, the purchase of an ornamental basket for packaging fruit isn’t an incidental cost if the value of the basket is substantial compared to the value of the fruit.”
Finding Corporate Gifts
Once you have your budget and the number of gifts you need to order clarified, it is important to determine a timeline for procuring the gifts and select a vendor.
Creating a schedule Create a schedule that will guide the gift-giving process. When developing the schedule, factor in a little extra time for each stage so there is no rush.
Here is a sample timeline you can use:
- Week 1: Create a budget and establish recipient list.
- Week 2: Choose a trusted product partner from which you will source the gifts. Choose the gifts you will purchase.
- Week 3: Order the gifts.
- Weeks 4-5: Allow 1-2 weeks for delivery.
- Week 6: Deliver the gifts to recipients.
Keep in mind holidays and other events may cause delivery to take longer. Allocate more time to order and delivery if you are trying to get the gifts before Christmas, for example.
What to look for in a corporate gift
A reputable corporate gifts retailer will save you headaches and make the gift-giving process easier. Here are some qualities to look for in a retailer:
An easy-to-use online shop: With a streamlined, easy-to-use website, you can quickly browse gifts in a range of categories and add them to your cart.
A wide product selection: Fun, motivational gifts, executive-level gifts, tech accessories, posters, candy and more – with a wide variety of products, you can find just the right items for all your employees and clients.
Secure shopping: A trusted gift source will take every step necessary to fully protect and secure your personal and financial information.
A legacy of success: Look to partner with a company that has decades of experience providing and delivering high quality gifts and a 100 percent satisfaction guarantee to ensure that you will be satisfied with your order.
Customer support: Have a question about which type of gift is best? Need a second opinion? Being able to live chat or talk with a sourcing representative can mean the difference between a gift that works and one that falls flat.
Efficient shipping: Choose a sourcing solution that has quick processing and shipping times so you can get your orders fast.
Choosing Corporate Gifts
You have established your budget, set a timeline and selected a trusted sourcing solution – now it is time to choose the corporate gifts you will purchase. There are several categories of items to choose from that make great gifts and can be suitable for a variety of occasions, clients and employees.
Unique and personal gifts: Personalized trinkets have a one-of-a-kind touch and become items to be treasured. Vases, crystal clocks, pen cases, picture frames, wine cradles and decanters and business card holders can all be monogrammed with clients’ or employees’ names. They can also be engraved with a message thanking them for their years of service or loyalty or honoring them for a personal or professional milestone.
Trendy and utilitarian gifts: Tech accessories given as corporate gifts will be used countless times, putting your budget to good use. There are gifts to fit every gadget, such as iPhone stands and chargers, mousepads, microfiber screencleaning cloths, earbuds and wireless bluetooth speakers. As an added benefit, every time the recipient plugs in his phone to charge or puts in his earbuds, he’ll be reminded of your brand.
Other utilitarian gifts include home goods like drinkware and barbecue sets.
Fun and whimsical gifts: You know what they say – play hard, work hard! Fun motivational gifts help increase engagement and excitement.
These items can be purchased at a large volume and at a low cost. There are many bright, colorful or funny gifts you can buy, from bendy pens and stress relievers to candy and tumblers.
Combined gifts: Mix and match gift categories for memorable corporate gifts. For example, you could give a client a personalized drinkware set, or present an outstanding employee an executive with a tote bag containing earbuds, an iPhone stand and several fun motivational items.
Your company is successful because of the loyalty of its clients and the hard work of its employees. Show them thanks and appreciation with corporate gifts. A trusted partner like Successories will help you select the perfect products for your clients or employees and deliver them quickly, backed by a 100% Satisfaction Guarantee. Click here to visit Successories.com and get started ordering corporate gifts today.