The Gilded Bee Guide To Corporate Gifting - Part 5

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 parts one to four of the blog we helped you choose the gift and get it into your recipients hands. In the final post of the series we consider the importance of measuring the impact of your gift and reflecting on it's success.

Follow-Up

Capturing feedback from your gift recipients is a useful technique to help you justify future gifting budgets and understand what your recipients value most.

Measuring The Impact Of Your Gift

We use the word 'impact' rather than 'Return On Investment' as it’s very tricky to categorically measure as marketing these days is so integrated. Here are a few techniques you could use to monitor feedback:

  1. Follow up your gift with a call, meeting or email. If you don’t hear from them first, check in with your end recipient to see if they received your gift and their thoughts on it.
  2. Capture all feedback in one place. It may be necessary to tell sales reps/line managers to update CRM’s or send emails to a central source with comments. Keep an eye on social media as you may find recipients share pics of their gifts on social platforms too. Consider adding a hashtag to your gift, but keep in mind it may not always be appropriate. 
  3. Measure referrals. If you are a referral based business you will know how many referrals you get on a regular basis and can directly track these within a certain time period after giving a gift. Ideally measure difference for at least six months. 
  4. Track Net Promoter Score or equivalent. Many companies ask the ultimate question “how highly would you recommend us from 1 to 10?”. Keeping track of this score and looking for trends after implementing a gifting strategy can help you keep tabs on the effectiveness of your gift.
  5. Measure customer churn rates.Giving a gift to say sorry when you make a mistake can be a fantastic way to help retain a customer. Keep track of your customer churn rates before and after you implement a sorry gift strategy to help judge if it has made a difference.
  6. Measure employee engagement. Employee gifts can play a part in engagement levels within your organisation. Measurements to track this can be absenteeism, retention, new candidate referrals (refer-a-friend type schemes) and surveys (including questions around satisfaction, sense of future and alignment with your organisation’s goals ).

Lessons Learnt

Once you know all of the feedback from how well your gifts were received, you need to analyse it to understand the wider business implications. Follow with a debrief with key stake-holders capturing what worked well and what could have been improved.This will help you finesse your gifting strategy for the future.

Many business leaders view gifts as a nice to have, rather than business critical. Providing them with this intelligence will help them understand the role gifts can play in supporting core business objectives. 

You're now all set to create great corporate gifting solutions. If you would like a copy of the complete guide please use the form below and if this all sounds too much like hard work then use the button below to contact us, we'd love to help!

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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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