You know that sending impressive corporate gifts is a must in the business world, but you have to stick to a budget that's on the small side - what do you do? A great way to get over the hurdle of budget limitations, but still have an effective corporate gift program, is to create tiered gifts that appropriately match each level of customer or client. There are many ways to segment your customer base to create different gift levels. One idea is to break it up based on the amount of money they have either spent or brought in for your company. Another is to segment it by long-standing, loyal existing customers vs. newer customers. A third could be to split them according to the number times they have returned to either purchase from you or use your services, i.e. how much of a repeat customer they are (regardless of dollars spent). What's important is that you make your selections based on what's right for your company.
Once you've created your gift tiers, decide how much you're willing to spend on each group. The top tier should ideally be the smallest group of your most elite customers. You can designate a portion of your budget to these customers so that you are purchasing more expensive items, but in fewer quantities. As you move on to the lower tiers, you'll have increasingly more gifts, but they'll cost less per piece.
Simple example: You have to buy 50 gifts. Without tiers, you could buy 50 gifts for, let's say, five dollars each. You'll spend $250 on your customers gifts. However, if you break up these 50 customers into three groups based on appropriate criteria, you may end up with five customers in the top tier, twenty in the second tier and twenty five in the third tier. The 5 top tier customers could receive gifts priced at $10 each; the 20 second tiers at $5 a piece; and the 25 third tiers at $2 a piece. Your total is then $200 -- $50 less than had you not created tiers in the first place and gave each customer the same gift regardless of the type of customer they are.
Of course this is a very simple example and in most instances there will be a lot more for your company to calculate in order to create a cost-effective program. However, if done right, you'll save money while implementing a high impact corporate gift plan. And of course, remember to imprint any gifts you distribute for a tasteful reminder of your generosity!
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