Corporate Gifting Challenges You Must Overcome In 2024
With just a few days left for the year to end, businesses are keen to evaluate and refine their growth strategies. Most companies were inclined to adopt corporate gifting as a tactic to improve employee experience and customer engagement.
Corporate gifts have the potential to amplify a company’s marketing and communication efforts. They create goodwill for your brand among your employees and customers, besides enhancing your reputation. Although gifting is a common social practice, things get slightly tricky when it comes to corporate gifting. You need to tick quite a few checkboxes like timing and quality to ensure your gifting program generates the desired outcome.
Businesses can take help from corporate gifting companies like eYantra to design a creative and successful gifting initiative. Regardless, there are quite a few challenges that corporates must overcome to leverage corporate gifting as a potent promotional and branding strategy in 2024.
Corporate gifting challenges to overcome
Gifting creates an emotional connection between the giver and the receiver. For centuries, human relationships have been built and nurtured by developing trust through gifting rituals. The same has been adopted in the business landscape, and this practice has gained traction in recent times. An increasing number of companies are joining hands with corporate gifting companies to select the right gift. However, there are some critical issues that businesses must overcome.
Budget constraints
Corporate gifting is still considered an expensive endeavor. Quite a few companies shy away from setting aside a budget for this engagement exercise. Since it is not a traditional strategy for retention and brand awareness, companies fail to realize its potential. Also, it doesn’t have to be a cost-heavy practice. By choosing corporate gifting companies like eYantra, you can customize the gifting program as per your industry, budget, and other preferences.
Lack of unique gifting options
A generic gift will not create the experience you expect. Moreover, it will seem like a formality instead of a tool to express your gratitude. It is important to select a gift that expresses the uniqueness of your brand and aligns with your values. However, the lack of creative gifting options is a major hurdle for corporates. You can overcome this issue with eYantra, a leading corporate gifting company. It offers a wide range of merchandising and gifting options to pick from.
Logistical bottlenecks
Corporate gifting involves planning, sourcing, personalizing, and packaging. This means you will be dealing with several vendors to implement your gifting strategy. It will end up creating an operational overhead that discourages companies from corporate gifting. Instead of taking care of the end-to-end process, you can outsource it to corporate gifting companies. With eYantra, all you need to do is share your expectations and budget restrictions. Our team will take care of everything from sourcing to packaging.
Unclear objective
As a strategy, corporate gifting can be utilized for several purposes employee engagement, client outreach, and brand awareness. Your gift must align with the context and must be appropriate to the occasion. For example, you can give a box of gourmet chocolates to your employees on Diwali. However, the same chocolates may not work during trade events or expos. Therefore, you must be clear about your goals and then select a gift that works towards the objective.
Regulatory issues
Selecting the right gift is essential for the success of the corporate gifting program. It must be of high quality and as per the preferences of the recipients. However, there is a distinct line that needs to be respected. That is, your gift cannot be so expensive that it can be categorized as a bribe. Your gift must only express your gratitude for the client association and must not indicate anything uncalled for.
Overcome gifting challenges with corporate gifting companies
Gifting can generate a high return on investments besides showing appreciation to your customers and employees. For the initiative to translate into something tangible like favorable attrition rates and improved brand recall value, your corporate gifting strategy must be on point. For this, you must outsource your needs to corporate gifting companies like eYantra, the largest B2B corporate gifting company in India. eYantra helps you overcome these challenges by sourcing your gifting needs to fulfillment, personalizing through the brand store, and offering a variety of options from a catalog of 1000+ items.
Learn more about corporate gifting with eYantra.