Improve Your Customer Churn Rate and Employee Retention with Gifts and Rewards
Employees are the ones without whom the work would simply not get done. So, retaining both your customers and employees is key to your business.
So, what are the ways in which you can improve their loyalty to you? Is it by providing more salary and benefits to employees and better quality products to customers?
Well, yeah, they do help immensely but there's also one other simpler, more thoughtful tactic you can adopt – giving out gifts and rewards!
People love those, don't they?
Let's understand how corporate gifting helps your business.
How Does Corporate Gifting Promote Engagement and Retention?
Here's how corporate gifting helps businesses sows the seeds of engagement and in turn improve retention:
1. Helps build long-term relationships
Every company hopes to build strong, long-term connections with its customers and employees. Reaching out to your clients and employees with corporate gifts shows just how much you appreciate and respect them.
It helps you interact with your business partners in a way that is personal, responsive, and engaging.
Any company that rewards their employees and customers for their loyalty and contribution forges deep connections with them, which helps them stand out from companies that don't make an effort.
2. Corporate gifting shows care and appreciation
Despite the fact that corporate gifting has been around for a long time, its power remains astonishingly irreplaceable and highly impactful. It is how you show you care and appreciate someone who goes out of their way to accomplish tasks. It inevitably builds their loyalty and dedication towards you.
For instance, sending out wellness gifts to help your employees deal with a remote working environment or giving them organic snacks and teas to watch their health.
When the opportunity for renewing contracts or switching companies presents itself, these moments of care and appreciation are ones they will remember.
3. Promotes a positive work environment
Many businesses are moving towards the remote setup and are encouraging their employees to work from home.
If you want to ensure employee retention, create a positive and connected work environment for employees to interact with colleagues and management. Gifting during holidays, special occasions is an excellent way to do so. It paves the way for conversations and inspires positive sentiment towards the workplace.
That's key to promoting employee retention, mind you.
All of the above, and more is possible with a simple corporate gifting strategy in place that shows your employees and clients that you value their association with you.
Now, let’s dive deep into how you can build a top-notch corporate gifting strategy that works.
5 Tips for Making Corporate Gifting Work
1. Customize gifts
What’s more special than receiving a customized gift from the organization you work for or buy from? Not a lot of things. So, every once in a while, be sure to make the effort to personalize gifts as per your recipient’s preference.
This could mean engraving their name on a laptop bag or water bottle, or sending out a gift hamper with their favourite items.
2. Gift on occasions like birthdays and festivals
This one’s obvious but never gets old. Who doesn’t like to feel special on their birthdays?
If your employees and customers have birthdays coming up, make the effort to learn about them and send them personalized items. And don’t forget festivals! Everyone expects gifts during these times, so be sure to not disappoint your employees and clients.
3. Send thoughtful gifts
Look beyond a corporate t-shirts to find thoughtful, possibly branded products that will improve the aesthetics of their workplace or please them enough to flaunt it.
Employees that feel connected to and proud of the firm they work for approach their workday and clients with a good attitude and increased levels of passion.
4. Give farewell and anniversary gifts
Celebrating work anniversaries by gifting employees with something special is a great way to express your appreciation for all of their hard work.
Second, you must accept that saying goodbye is difficult. However, you might improve the situation by providing a thoughtful parting present. In fact, make it a point of purchasing thoughtful farewell gifts for your staff so they remember your firm even outside of work.
5. Focus on packaging for a great unboxing experience
The gift package's polish and presentation aid in communicating the thought process and meaning behind the gift. Make sure you wrap your corporate gifts with an beautiful elements and have your company logo printed to enhance its visual appeal.
6. Reward them for a job well done
A gift card on achieving a milestone or a day-off for putting in longer hours goes a long way in showing your appreciation towards employees. Make them feel like their contribution is worth it.
Acknowledge their successes and reward them to ensure their continue working with the same spirit. For customers and clients who have shown loyalty to your company, we recommend sending out gourmet snacks or wellness gift hampers.
Examples of Corporate Gifting
Did you know employees who receive gifts from companies share and cherish them with their friends and family?
And, even share them on social media?
Check out these examples of corporate gift ideas to get an idea for what you can gift your customers and employees.
1. Gift Hamper by SEMRUSH
Here is an uber-cool gift hamper by SEMRUSH with goodies that are extremely versatile but have a lot of utility.
2. Sweatshirt by HUBSPOT
Check out this branded sweatshirt and a pair of socks received by an employee on Christmas!
3. Gift Hamper by AHREFS
Even a simple gift like a mug and a shirt can go a long way in building employee loyalty, right?
4. Expensive Gadget by Wipro
Always a win-win giving someone a gadget, huh? This one by Wipro is a sleek-looking smartwatch from the brand Noise.
Summing Up
Express your thanks and gratitude to your staff and clients by giving them corporate gifts. It will lead to pleasant and long-term commercial connections. There are a ton of advantages to corporate gifting and a whole range of occasions for you to showcase your care and appreciation.
Partner up with a reliable corporate gifting company to never miss an opportunity to reward and gift your employees and clients!
