Running a business is more work than just returning a few phone calls and finalizing business deals with firm handshake. No matter if it’s a small business or a large corporation, it is also a social organization and being social requires you to give a gift here and there. You may not know it but choosing the right item as a corporate gift is serious stuff.
There will be times when you must give a corporate gift in order to seal that important business deal or just to maintain a good personal relationship with a client. Done right, corporate gift giving reaffirms a business relationship, increase customer loyalty, and encourage more business.
There are so many different choices out there that it can be quite a difficult and costly decision for you to make. Before you head out to find the perfect corporate gift for a client, know these essentials of corporate gifts supplier malaysia buying.
- Corporate policies – This mostly affects larger corporations than a small business but it never hurts to check first. There are a large number of companies and government offices that have a gift policy in place which limits the dollar value of a gift they are allowed to accept. Some even prohibit receiving gifts altogether. Check their company’s policies and rules of gift giving so you don’t put them in an awkward position of having to return the item.
- Determine wants – The biggest challenge you’re going to face when buying a business gift is knowing what exactly to buy. There is a fine line between keeping a relationship on a business level and on a personal level. You want a gift that keeps in toe with that line. There is nothing wrong with simply calling your client or customer and asking them what they like to do in their spare time. This helps you get an idea of what to buy.
- Be aware of potential cultural differences – This item on the list will probably not affect too many people but it is an important aspect to keep in mind. Just because you do business in your own country or state doesn’t mean your clients or customers will act or think in the same manner as you. Different culture each has their own rules for gift buying in regards to business.
- Quality – Don’t be cheap and buy a poor quality gift that can do more damage than good for your image just to save a few dollars. Always think about the message your gift sends as a reflection of your company. Buy good quality products but don’t break the bank in order to do it.
- Hand write cards – I know Hallmark makes a card for all occasions but that doesn’t mean you should simply buy one for an important client. That potential business deal is far too important to buy a card instead of writing your own and include a personalized signature.
- Deliver the gift personally – The best way to make sure your gift lands in the right hands is to personally deliver it. A gift delivered by you personally shows your client that you consider them important and leave a lasting impression.
- Be familiar with IRS deductions – Did you know that gifts given for business reasons are tax deductible up to $25 per person for the tax year? Now keep in mind that you cannot deduct incidentals such as packaging or mailing the gift. You may be subject to different rules when it comes to what you can and cannot deduct depending on the type of business you run.
