Giving gifts to customers can build your business
Small-business owners with cash flow problems might be tempted during yet another difficult holiday season to forgo gifts for clients or customers. Many look at gifts as budget items that just aren’t critical.
There’s another, bigger-picture way to look at business giving. Gifts selected with care convey to customers how important they are, and how much an owner will continue to value their relationship.
They also don’t have to break the bank. They can be small but meaningful. Or splurge on just the biggest customers.
IT’S AN INVESTMENT
Many company owners see holiday gifts as an investment, one that will continue to pay off as business gets better.
Even in a difficult economy, Terri Slater doesn’t think it’s a good idea to skimp on client gifts.
"I know it’s rough out there and people are cutting back, but this is one area where you really say, you can’t afford to," said Slater, who runs Healthy Lifestyle Publicity in Boca Raton, Fla. "I think it’s important to acknowledge the people … who are contributing to your success."
Slater tries to match the gift with a client’s personality, so one might get a tower of chocolates; another will get a high-quality pen.
THINK TWICE ABOUT TCHOTCHKES
The pens, mugs and calendars that used to be staples have been falling out of favor, and cost is just one reason.
Of course, if you run a retail business or a service business like a gas station or dry cleaner, handing out these smaller gifts is more feasible than personalized ones (although you might want to make an extra effort for your best customers) low fee payday loans. And if you’re aiming for name recognition, refrigerator magnets can help.
But you might give something that your customers will appreciate even more — a discount. Giving customers 10 percent off their cleaning bill or a free oil change is a great way to keep them coming back.
A DUAL PURPOSE
Some owners are giving gifts that are more than relationship builders. They also help sell a client’s products or services.
Caroline Lubbers has always devoted a great deal of time to finding what she calls cool presents for her marketing firm’s clients. "I’d usually pick different things for different personalities, and it’s very time consuming," said Lubbers, whose company, Goldfish Marketing Communications, is based in Chicago.
Not this year.
She got the idea to make gift baskets that contain the products of her clients, who include specialty food makers. It takes less time and helps do some marketing.
It’s also cheaper. "I looked at the amount I budgeted for holiday gifts and I realized I could probably save hundreds," Lubbers said.
Filed under: finance by Forest