BUILD­ING RE­LA­TION­SHIPS WITH A GIFT

Cor­po­rate gift­ing has helped many busi­nesses to grow and main­tain re­la­tion­ships with their clients

The Economic Times - - Companies: Pursuit Of Profit -

With the fes­tive sea­son just around the cor­ner, sev­eral pri­vate com­pa­nies as well as gov­ern­ment of­fices are busy con­tem­plat­ing var­i­ous op­tions to gift their clients. Cor­po­rate gift­ing is at its peak dur­ing fes­tive sea­son as it plays a huge role in build­ing re­la­tion­ship. Gifts are a sym­bol of ap­pre­ci­a­tion and be­ing thank­ful to a per­son, and what bet­ter oc­ca­sion than fes­ti­vals to show that grat­i­tude.

Cor­po­rate gift is a ma­jor trend to­day as many in­di­vid­u­als, pri­vate firms and gov­ern­ment of­fices have dis­cov­ered its ben­e­fits and ad­van­tages in busi­ness growth. It is one of the ef­fec­tive ways to build a strong re­la­tion­ship be­tween the com­pany and its clients. Some firms also fol­low a prac­tice of giv­ing gifts to its em­ploy­ees to thank them for their con­tri­bu­tion in the com­pany's growth. This fur­ther en­cour­ages and mo­ti­vates them to show their best per­for­mance.

In ad­di­tion to build­ing re­la­tion­ships, it is also one of the most ef­fec­tive ways of mar­ket­ing the com­pany's prod­ucts and ser­vices to­day. Nev­er­the­less, choos­ing the right gift is very im­por­tant. A re­cent study re­vealed that firms which give a lot of at­ten­tion in choos­ing the right gift for its em­ploy­ees and clients are the ones highly suc­cess­ful in the mar­ket.

Cor­po­rate gift­ing is no longer about a box of chocolate or kitchen ves­sel and has come to in­clude a spa treat­ment voucher, an art piece sold by an NGO and other in­no­va­tive items. Ac­ces­sories, be it associated with home dé­cor or fash­ion are all­time favourite as they have great util­ity and re­call value and the names of com­pa­nies too can be em­bossed on them. Elaine DSouza, an em­ployee in an em­bassy of­fice says her of­fice gifts bags, note books, pen-drives and pens to its em­ploy­ees.

CP Joseph, who works in a pri­vate firm, prefers gift ac­ces­sories like wal­lets, T- shirts, coast­ers, bags, mugs and key chains as they are very use­ful. Some other pop­u­lar cor­po­rate gift­ing items are tray, plat­ter or can­dle stand with a box of sweets. In sweets, tra­di­tional and cakes, es­pe­cially cup­cakes are a great favourite. Joyce Fer­nan­des, a baker in­forms, "Choco­lates and cakes are in de­mand as they suit all oc­ca­sions."

While com­pany's bud­get plays an im­por­tant role in de­cid­ing the gift, one with high bud­get prefers to gift sil­ver coins to their clients and em­ploy­ees as they are con­sid­ered aus­pi­cious. Some com­pa­nies are go­ing off the beaten track and plan­ning to gift some­thing novel and unique. At present, well­ness­re­lated gifts are high on the agenda. Meghana Kulka­rni, owner of a cor­po­rate brand­ing and gift­ing com­pany, in­forms, "Com­pa­nies are now opt­ing for tie-ups with spas, beauty treat­ments, or Ker­ala mas­sages, and giv­ing their em­ploy­ees vouch­ers to en­joy these ac­tiv­i­ties."

More­over, gift­ing items by as­so­ci­at­ing with NGO is an­other hall­mark of cor­po­rate gift­ing. Raell Padamsee, CEO and manag­ing di­rec­tor of a pop­u­lar pro­duc­tion house ex­plains, "In keep­ing with our phi­los­o­phy of 'Equal Op­por­tu­nity for All' we sup­port NGOs. We pur­chase paint­ings made by phys­i­cal and mul­ti­ple dis­abil­ity in­di­vid­u­als and later we frame them and gift it to our clients and em­ploy­ees. Since we work with the arts, we pro­mote art through our gifts and send these with cup­cakes and de­li­cious brown­ies, to add a touch of sweet­ness."

— (Con­act email: rashmi.sanz­giri @times­group.com)

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