Corporate Gifts for a Contract Renewal

With both clients and potential clients, there are many opportunities for a corporate gift to give you the upper edge. Depending on where you are in the sales process, for example, a corporate gift may be an opportunity for you to win over a client that had been previously leaning the opposite direction. Corporate gifts are also used to celebrate anniversaries or to thank former client for their business.

Another good time to give a corporate gift is with contract renewal. Keeping clients happy and renewing contracts is one of the best ways to make sure your business succeeds, and these gifts can play a role in that. Contract renewal presents you with three separate opportunities for providing these business gifts:

ˇ        Enticement to Sign Quickly – When a contract is in negotiations for being renewed, a corporate gift can be used in some ways to bribe the customer into signing faster. For example, if they “Renew Now” they can receive some type of gift that will be of benefit to their office. This type of corporate gift is considered slightly unethical, but it is no less common, and can be used to win over potential customers, especially for smaller contracts that may not represent considerable value.

ˇ        Enticement to Sign Overall – During the contract renewal process, a gift can be sent with no strings attached that is not meant specifically to get them to sign the contract, but will still enhance your standing in their eyes so they are more likely to do so. Business gifts in this manner are fairly common. They do not force the client to sign in order to get the gift. Rather, they simply cause the client to like you more, as well as feel a little bit of guilt should they decide not to renew the contract.

ˇ        Providing the Corporate Gift After the Contract is Signed – Another option is to send a corporate gift after the contract has been renewed. This works on basic behavioral psychology principles of operant conditioning – the individual that signed the contract gets a reward for signing the contract, so the next time they are asked to sign the contract, they are more likely to do so. This is perhaps one of the best ways to give corporate gifts during the contract renewal process. It motivates these liaisons to renew these contracts every time in order to reap the benefits, even though the gift itself is not specifically “designed” to reward them for signing said contract.

As you can see, there are plenty of opportunities for corporate gifts to play a role in the contract renewal process. You can use the gift to entice the company into renewing the contract, or you can use the gift as a way of rewarding the company/individual for allowing the contract to renew. Either way, the corporate gift is able to play a significant role in helping you improve your business, making it one of the best available ways to ensure that your business keeps your clients happy.