More than 60% of all companies give corporate gifts, especially over the holiday season, with 86% on average saying their primary goal in doing so is to show appreciation to their customers.
If you’re thinking of doing the same, then you’ll find everything you need to know in this corporate gift buying guide!
Covering the Basics of Corporate Gift Buying
The average amount spent per corporate gift is around $48. But as with any business expenditure, there’s more involved in determining your corporate gift buying than simply looking at what everyone else is doing!
1. Set Your Budget
Your first step is taking a look at how much your company can afford to spend on corporate gifts.
One way to do so is looking at how much business your intended recipients have generated for you over the past year. However, sometimes you might also want to consider prospective clients/customers and how much they’ll bring to your company in the future!
Something else to consider is corporate gifts for your business partners. In such cases, sales volume can still be a factor, but this isn’t always the case.
2. Compile Your List
Once you have an idea of how much you can afford to spend on corporate gifts, it’s time to decide who your recipients are going to be. This step involves taking a deeper look at the lists you’ve already compiled to set your budget.
The clients and business partners who consistently bring great value to your company are obvious choices here. The average number of recipients appears to be 117, but remember your budget and your company size should dictate how many people you gift to!
Once you’ve compiled a preliminary list, it’s time to start whittling it down with the next step.
3. Are Gifts Appropriate?
You never want to waste money or put your intended recipients in awkward positions with your corporate gifts.
Before you start making purchases, set up an Excel spreadsheet and add your preliminary list from the previous step.
If you don’t already know the answers, start contacting the names on your list to determine whether (and what kind) of corporate gifts are appropriate:
- Is there a policy preventing the intended recipient from accepting gifts?
- Are there any restrictions on the gifts they may accept? For example, a maximum value, or whether alcoholic beverages are appropriate.
- Does the individual recipient have any dietary or religious restrictions on the type of gifts they may accept?
As you talk with each person on your preliminary list, fill out the Excel spreadsheet with the information they give you.
If someone isn’t allowed to accept corporate gifts, you can still show your appreciation with a token gift, such as a personalized greeting card!
4. Adjust Your Budget
Based on the feedback you received, you can finalize your corporate gift buying budget!
Start by making a separate list with the recipients who can accept gifts. If you find some of them have relatively low maximum value policies, you can also separate them from those with no (or higher) ones.
Now all that’s left to do is divide your total budget from Step 1 by the number of remaining recipients. And there you go! You have your final budget for each individual corporate gift.
Corporate Gift Buying Made Easy
Broadway Basketeers makes corporate gift buying easy for you!
We have corporate gifts for every occasion:
- General congratulations
- Get Well corporate gifts
- Thank You
Feeling a little overwhelmed by the number of options? We specialize in putting the perfect corporate gifts together, so you can always rely on one of our Gift Specialists to help you find one just right for your recipient(s)!
Not only that, but Broadway Basketeers makes it easy for you to customize your corporate gifts! Simply talk to us about your specific needs and we’ll help you find the perfect solution.
We’ll even include special gift items and your company’s branding if you so desire!
Because Broadway Basketeers is dedicated to only using the best food items, we also have the perfect solution for ensuring all of your corporate gifts arrive in their best condition.
Rather than receiving every order yourself and then shipping them individually to your recipients, you can simply take advantage of our bulk order form!
This way, you can give us all of the shipping information and we’ll send your order directly to the intended recipients on your behalf.
As you can see, purchasing corporate gifts doesn’t need to be a logistical nightmare. With Broadway Basketeers on your side, it’s simpler than ever before!