Gifts V Incentives
To recognise what an effective gift strategy is, it helps to understand what it isn't. Start by making the distinction between corporate gift giving and incentive award programs. Though gifts and incentive awards often involve similar types of recipients, they are different on both strategic and practical levels. Incentives are awards for achieving defined levels of activity, such as sales quotas, safety improvements, or good attendance.
In contrast, gifts are more or less spontaneous, given not as part of any defined exchange between giver and recipient. The gift recipient doesn't consciously set goals in anticipation of a reward, whereas the incentive recipient does. It's tempting to view gift and incentive programs in the same light. After all, you want to know that you're getting your money's worth from any business investment, and most givers want to motivate the recipient in one way or another.
But be careful. Leaving customers or employees with the impression that they're being bribed can do more harm than good. Instead, look at gift giving as a subtle, long-term process of relationship-building, following the basic guidelines described in this article.
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• Do you want to keep your customers happy? Free giveaway thrown in with their Sunday paper of weekly grocery shopping is a top idea.
• Promotion is the business of communicating with customers and it will provide information that will assist them in making a decision to purchase a product or service, therefore use of boards and promotional signs are very essential to get noticed and encourage your target group to take part in the promotion.
• Unique promotional items can be used in marketing of your company brand in order to increase the visibility of your company in the sector it operates.
• Sales promotions or corporate advertising is a way to get more potential customers, boost your sales, increase the visibility and popularity of your brand using promotional merchandise.
• A standard, model promotion in the huge and still growing events and conferences industry will always incorporate some kind of promotional merchandise of giveaways.
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• Promo giveaways or freebies are always eye-catching and create an enormous interest from the public.