Do you just buy and allocate corporate gifts to clients without tracking its effectiveness?
In many industries corporate gifts, such as sports tickets and suites, are an integral part of their company’s marketing campaign. These gifts allow a company the means to attract lucrative clients, as well as open doors to meetings that would not otherwise be opened. It also creates goodwill between you and your clients in hopes that it will one day be reciprocated. In most instances, a corporate gift is welcomed even when unsolicited. Unfortunately, many companies do not track its effectiveness and impact to the bottom line, and just accept it as an expense for being in that particular line of business.
Track Your Corporate Gifts
It is imperative that when you use corporate gifts as a part of your client acquisition/retention campaign, that you track metrics just like any other aspects of marketing. At the very least, you must know your budget spend, ROI and effectiveness. Programs, such as Ticket Manager, should be able to help you do that.
After the gift is received and/or the conclusion of the event, communication with your clients is paramount to gauge its impact and whether you need to set this particular event as their annual gift. You may also want make sure that this gift was appropriate to this particular client.
Keeping these aspects in mind will help better monetize your gift giving budgets instead of it being that proverbial “Bermuda’s Triangle” of spending.