Last
updated December, 2003
Corporate
Gift Giving 101 Fa la la la la.
. .
The holiday season is upon us and business
gift-giving is on the minds of many company owners. Gift
giving expresses
appreciation and acknowledges the importance they have
in your business. Everything that is presented to customers
and clients reflects your business and can build customer
relations, even gifts. So, deciding on how to give,
who to give to, or even if you should give business gifts
can
be a challenge.
The first rule
of thumb in corporate/client gift giving is to plan
early. However, if this year has caught you off guard,
now is
the time to make final decisions and start planning
for next year. The following
are a few tips that may assist you in business gift
giving:
- Etiquette is
the most important concept in corporate/client gift giving.
If in question of a particular item, choose something
else as a gift; consider basic etiquette.
- Not
all clients are equal; it would be
economically impossible to treat
all customers the same in gift giving.
Here are three gift-giving options
to consider:
- Send
the same gift to all clients
(expensive and maybe inappropriate)
- Send
gifts that reflect the amount
of business done with each
client
- Send
cards to all customers and
gifts to VIP clients
- Make
sure business gifts are
not too personal or inappropriate.
Be careful
in giving alcohol unless
you are close to the receiver
and know it is appropriate
for them and their company.
- Does
the
recipient's
business
have
gift
receiving
policies
or
restrictions?
Call
the
human
resources
office
to
inquire
about
gifting
policies
or
be
direct
and ask
the
customer.
- Be
aware
of
cultural
differences,
beliefs
and
etiquette,
especially
since
business
is
conducted throughout
the
world.
What
is
the
rule
of
thumb
in
one
country can
be
perceived
as
insulting
in
another
country
or
culture.
- If
you
plan
to
give
an
actual gift,
be
careful
of
the
use of
your
company
logo.
An
imprinted
logo
item
is
more
of
a
promotional
item
not
a
true
gift.
It
is
appropriate
for
your
company
logo
to
appear
on
the
packaging
but
you
may
not
want the
logo
on
the
actual
gift.
- Do
not
give
cash or
money
as a gift
to
a business
client;
it may
be
misconstrued
as
a
bribe
and
does
not
show
any
personalization.
Consider
a
gift
certificate
if
you
prefer
the
customer
to
choose
a
specific item
they
prefer.
In
addition, too
lavish
of
gifts
may also
be
perceived as
inappropriate.
- When
personalizing
gifts for VIP
clients, be
aware
of the
recipient's likes and
dislikes. Does
the
person have
a
certain
area
of
interest
or
is
it
obvious
they
have
certain
likes?
Matching
a
gift
to
a
particular
client builds
relationships.
- Present
the
gift
privately and
in
person
if possible.
Be
sincere.
- Include
a
personalized
note with the
gift
to express
your
best
wishes and
appreciation
for
working
together.
Happy Holidays.
. . we wish you the very best!
Seniors
Gain the Market's Attention Every product
or service has a target market. For years, the popular
demographic for many products or services has been the
18-34-year-olds. The marketplace is shifting and there
is a growing target market that will only enlarge and build
in buying power; it is the senior market. The baby boomers
are maturing and they are impacting marketing trends.
Marketers who
only market to the 18-34-year-old demographic and look
over the 50+ consumers are missing out. The 2000 US Census
reported 13.3 million Americans between 55 and 59, 10.7
million 60 to 64, 18.1 million 65 to 74, 11.7 million 75
to 84 and 3.3 million 85 or older.
In addition to
the aging of the baby boomers, the definition of "senior" is
also getting younger. The median age for the first-time
grandparents is 47 years old. In fact, the American Association
of Retired Persons (AARP) begins targeting prospective
members at 49.
The buying power
of seniors is great. Consumers 50 years old and over now
control more that 77% of the disposable income in the United
States (that equals to approximately $1.6 trillion dollars).
The baby boomers are the most active spenders in American
history. The US Census Bureau reports the number of American
citizens ages 50 to 69 will jump over 87% in the next 15
years. By 2005, there is expected to be a 44% growth to
59.3 million 50 to 69.
It is easy to
see that marketing to seniors is important. It is not so
easy to market to this group of consumers the same way;
all combined in only one "old category". There is a wide
range of age groups, psychographics and incomes within
the seniors market. Lumping all seniors into one large
category is a mistake.
The range in
the growing "seniors" market may include a grandfather
in his late 80's, to a grandson is his 40's. . . this is
a wide range with very different needs. Mature adults vary
in their perception of what a senior is; a 48-year-old
usually does not perceive himself as elderly and many times
works to defy the natural pattern of aging. The various
strategies and opportunities to market to the large and
powerful senior market are worth exploring.
Look for more
information on the senior market in future MCS Marketing
Minutes
