The Gilded Bee Guide To Corporate Gifting - Part 2

Business gifting is an effective way to connect with the people most important to your organisation. It can however be a time-consuming minefield. We've created a series of blog posts to share our comprehensive guide to help you navigate your way to a successful gift solution. 

Over the last three years companies big and small have benefitted from our end-to-end gifting service helping them to save time, and get the most from their gifting budget. From our extensive experience we have pulled together this guide to corporate gifting for you to use as a tool to develop  your own successful gifting strategy.

In part 1 we looked at 'Getting Started' covering most of the considerations needed when planning a great corporate gift.  But before you can move on to choosing the gift itself, it's important to consider the budget you can commit to the gift and the implications of this.

Budgetary Considerations

Deciding on a budget for a gift can be tricky. The following points can help guide your spend.

Policies and tax considerations by recipient type

1. Employee gifts are subject to HMRC tax guidelines.  More information can be found here
 
1. B2B customer gifts should not fall foul of the bribery act. Companies interpret the bribery act in different ways.  More information can be found here. In these instances a gift under £25 or £50 ,could be considered. Adding corporate branding to gifts will often comply with these policies, as it then diminishes their consumer value.  See our guidelines on branding below for the best way to do this.
 
1.B2C customers and prospects can have more free rein. When deciding on a budget you should consider your brand positioning and potential value of the customer. For example,if they are a highly valuable customer and your brand is premium, then the budget for a gift needs to reflects this. 

Budgetary Considerations

When setting a budget consider the gift’s strategic importance.  For example, Christmas gifts can create a general feeling of goodwill, which in turn leads to better customer advocacy.  So at Christmas you might want to splash out. 

Giving a clever gift as part of a marketing campaign can help capture the recipient’s attention, and further your campaign narrative. In this instance you may be able to achieve this on a smaller budget (under £20).
The context of the gift will also be important.  For example, if you are giving a gift as part of an event the gift should be in keeping with your theme. Good gifts can help continue the story of an event and create lasting memories. Allow for a budget that can help you achieve this.

If you are able to carve out that little bit extra, it could mean the difference between a gift that gets enjoyed or branded merchandise that gets thrown away (see our point on sustainability). 

Budget Allocation

There’s no getting away from budget when making your gift selection. If this is less than you would like it to be, then all the more careful consideration will be needed.  If budgets are tight we believe that it is better to have one higher value piece than lots of throw-away items. You can use simple and creative ways to complete gift such as, a bespoke cocktail recipe card to go as part of a set with a lovely cocktail shaker. It’s the finer details that help create the feeling you are trying to achieve.

Next time...

In Part 3 of our corporate gifting guide we get to the fun bit, choosing your gift.  You won't be surprised to hear that there is still lots to think about, but we have every step covered.  If you would like a copy of the complete guide please use the form below or use the button below to contact us and start giving great corporate gifts!

Download Your Guide To Corporate Gifting

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Business gifting is an effective way to connect with the people most important to your organisation. It can however be a time-consuming minefield. Use our guide to help you navigate your way to a successful gift solution.

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