Budget Business Gifts
In today’s tough economic times, it can be
difficult to afford some of the tools that you used to use to market your
business. With spendable income becoming more scarce, it can be tough to
justify things like business gifts as a way to market your company, when
simply calling and talking to potential clients is completely free.
Yet business gifts are still some of the highest
quality ways to market your company. They allow you to give off the
appearance of professionalism and create a rapport between yourself and
another industry that simply isn’t possible with other methods of marketing.
So instead of simply buying a gift because it is a well known marketing
practice, consider the following ideas for how to maximize your business
gifts in order to improve your budget.
Plan Gifts for Specific Stages
One way to maximize your gift giving budget is to
set one, single, predetermined stage for when you buy the corporate gift,
and base the amount you spend on the gift (and the number) on how well you
expect a possible client at that stage to turn into a paying customer. For
example, if you decide that you want to send business gifts at simply the
exploratory stage, consider far less expensive gifts since they are less
likely to become customers. If you are nearing the end of the sales process
and there is a higher likelihood chance that the client will become a
customer, consider more expensive gifts (since there will be fewer customers
in this area). This will ensure the money is being well spent.
Consider Only Targeted Business Gifts
Another option is to only purchase business gifts
for potential clients that you are certain will make excellent customers –
individuals and companies that need exactly what you have to offer. This
will cut down on the number of business gifts you are sending out while
ensuring that you get the attention of those that represent the best fit
with your company’s product.
Buy in Bulk
If you can find a great business gift – one that is
professional, appropriate, branded and impressive – why not buy many of them
and save a considerable percentage up front? Most corporate gift companies
offer huge discounts to their branded items when purchased in bulk
quantities, with some companies offering as much as 30% off. These are deals
that will save your company a great deal of income while still providing you
with the gifts that you need.
Getting the Most For Your Dollar
Experts agree that in tough economic times,
business gifts are perhaps more important. Fewer companies are willing to
take the financial risks, so your corporate gift is likely to make more of
an impression than it would in better economic times. In addition, you have
the opportunity to show that your company has revenue to spend, which
clients like to see in those they are planning on doing business with.
Rather than cancel corporate gifts, simply use some of the cost saving
strategies above and you are very likely to get improved results.