In today’s new virtual world, building meaningful relationships has become increasingly more important, encouraging companies to change their outlook on corporate gifting. Forbes recently explored the business of corporate gifting, citing a study which shows a significant boost in corporate gifting budgets in response to COVID, estimating that the market will reach $242 billion this year and will only continue to grow in the coming years. Of that sum, approximately 60% will be allocated towards clients and partners and 40% to internal employees.
No longer an annual obligation mindlessly fulfilled by sending a classic gift basket or Edible Arrangement during the holiday seasons, corporate gifting has developed into a best practice that improves business and employee relationships tenfold. Simply taking that extra step to acknowledge birthdays, accomplishments, promotions or big wins and in turn celebrating those with a thoughtful message and practical gift proves beneficial to employees and clients alike, who agree that receiving gifts has substantially improved relationships, feelings of value, customer loyalty and employee retention.
Work, play and leisure have all found their way onto digital platforms in the last year, but digital gifting has been available for quite some time – and it’s time for executives to take advantage. Platforms like Venmo and CashApp allow for the quick transfer of birthday cash, paybacks and just because gifts. Yet with that ease has come a stigma that a digital gift is a cop out, lacking the same sentimental touch, thought or effort of a classic gift wrapped in paper and tied with a bow. Just like personal gifting, leaving the right impression on an employee or client through a corporate gift requires personalization and thought. This can be a daunting task for the gift giver, especially in a large company or a virtual team. Gifting a team member you might not have a personal relationship with can lead to an insensitive or inappropriate gift that may not be well received. GiftCast, however, allows for the same ease as those money sharing apps, but includes a personal touch with personalization options, so your corporate gift can be simple and practical, but also memorable. Acknowledge individual accomplishments, share personal sentiments and celebrations while also giving the gift of choice, so that each person can pick something that suits their needs/wants.
As soon as the holiday season rolls around, you can head to GiftCast’s app and deliver your personalized video and surprise monetary gift or Amazon eGift Card, making it easier than ever to reward hard work and virtually shake hands on more business deals, without cutting into your busy schedule.
Tell us about your favorite gifting experiences on Instagram @giftcast!