Corporate gifts: Obsolete or good customer retention tool?
Client thank you gifts, much like many other business practices, have become a topic of hot debate. The question is; are they still a valuable part of todays business landscape or are they another one of those business practices that became obsolete a decade ago? According to research, corporate gifts done correctly can be a good way to stand out in a competitive landscape and help you avoid customer turnover. But corporate gifts gone wrong can make you look cheap and ordinary.
Standing Out in a Competitive Landscape
Theres no denying, business ownership is on the rise. The United States Small Business Administration attributes the rise in business ownership to the increase in corporate downsizing. With lower barriers to entry for starting a business and the world literally at entrepreneurs fingertips for business expansion, odds are you have more competitors now than ever. Standing out has become even more important in order to get and keep customers.
Competing in todays vast business landscape is much like online dating. One wrong move and suddenly your date (er, potential customer) is swiping right on Tinder to the next best option, because at the end of the day, people have more options now than ever.
So how do you get your potential clients (or dates, for that matter) to make a commitment to doing business with you and stop talking to competitors? Simple; make a statement about your loyalty and commitment to them first (while providing a valuable product or service, of course). Sending a client gift can help you do that.
Dont Be Boring Opt for Unique and Innovative
If you scored a date with someone youd been dying to go out with, would you bring them cheap, lame flowers from Walmart or would you opt for a fresh, custom arrangement from the local flower shop? The answer is obvious.
Why are corporate gifts any different? If you send something boring and overdone, you run the risk of looking cheap and ordinary. No one likes cheap and ordinary. Fortunately, one company saw the gap in corporate gift giving and set out to innovate the industry.
Gimmee Jimmy's Cookies (www.GJCookies.com) breathes a breath of fresh air into an outdated industry by providing treats that are baked fresh daily, and offering a variety of flavors that show your clients that youre anything but ordinary. Better yet, with incentives for corporate accounts and an easy upload form enabling customers to send an order to multiple clients, showing client appreciation has never been easier.
Retention Trumps Acquisition Every Time
Depending on the study you read, acquiring a new customer costs between five and ten times more than keeping an existing customer. With this in mind, shelling out a few bucks to show your customers you value them suddenly seems like a very cost effective option.
Engagement, value and appreciation go a long way in establishing long term customer and client relationships. Sending a client gift takes you less than ten minutes and can go a long way in meeting these initiatives. Long story short; customer gift giving is a customer practice that has become innovated but not outdated. Making it an integral part of your customer onboarding and retention process can make a difference to your bottom line in an advantageous way.