In the current economic climate I’m sure many people think that corporate gifts or promotional merchandise are seen as a luxury and that budgets should be cut. The research below would suggest differently…
Research has revealed that 75% of businesses are shunning the double dip recession by increasing their corporate hospitality spend to improve relations with key contacts.
The survey, of over 1,000 people, also found that six out of 10 companies have upped their spend on marketing and promotional items in 2012. Of that group, 37% have increased their budget by over a fifth.
When considering promotional gifts, the study also revealed 45% of businesses were more inclined to purchase unique or personalised gifts as opposed to generic items. The personal touch goes a long way!
Dr Ashley Weinberg, senior lecturer in psychology at the University of Salford, said: “In sales ‘we buy from people we like’ and so, at a very basic level, some potential consumers may well feel a little emotional boost from an organisation offering something without charge.”
“Even for those who decline the offer of a gift or hospitality, there is some perception that the organisation who offered it is one that we’re likely to be more open to in the future.”
“Building business relationships is vital. It can be done through meetings and entertaining and also through carefully selected gifts to existing or potential new business leads. It’s appreciated because it not only represents a financial investment, but also shows empathy and the fact you have invested time into trying to get into the other person’s head to give them something they want. That helps to create and build relationships, which are vital for on-going business.”
It is clear to see that misconceptions have been made about the spending in our area and that businesses are actually increasing their spend…so if after reading this you need some help finding the right corporate gift speak to our sales team today!