Corporate gifts include the amount spent on customers, consumers, partners, employees and associates. Depending on the area and nature of the business, the budget comes for gifting.
When the telecom and insurance industries arrived in India they were very aggressive and the budget had to enter the market. Gradually they moved from customer acquisition to profit and the budget was reduced. Now only the market leader has set a budget to make new acquisitions and retain profitable customers.
The marketing budget is usually between 2% to 5% of the sales and the corporate gift budget is fixed based on the ground activities. Traditionally major advertising budget goes according to newspaper and mass media to create awareness. The gifts are then used to encourage trials at the last touch point.
The budget is large for pharma and liquor, where advertising is not allowed, to encourage testing and replace brands.
There are no specific guidelines regarding how much should be spent on corporate gifts or corporate gifting purposes. It depends on various factors whether you are provisioning corporate gifts for your employees or customers or customers or associates or associates. Even for employees, often the budget is flexible with their seniority. Similarly, corporate gifting for customers may vary with their categories such as platinum, gold or silver etc. In addition, the budget is distributed to a very small customer base and the budget may increase when delivering to employees. . There may be a higher budget for premium gifts for their partners and associates.
It may be possible that the customer has given a profitable business to that organization. Apart from this, the corporate gift budget also depends on the following factors:
• Organization size.
• Total number of customers.
• Overall your corporate gift budget.
• Personal relationship with the customer.
Idea Corporate Gifts 