Using e-gifting to Close the Sale
Corporate gift giving has always been a terrific way to strengthen the relationship between salespeople and their key business contacts — but the pandemic has changed the landscape dramatically. Now, more than ever, salespeople are relying on gifting to stay in touch with their contacts, especially as face-to-face meetings and interactions at trade shows and company events have become more limited than before. Recent research revealing the rapid growth of corporate gifting, demonstrates how it can help facilitate these important business connections, as in-person relationship building continues to be a challenge.
A recent study conducted by Coresight Research, states that, among 300 corporate gift buyers across companies with up to $30 billion in revenues, corporate gifting will be a $64 billion opportunity through 2024. The study estimates that the corporate gifting market will reach $242 billion by the end of 2021 and grow to $306 billion by 2024 – at a CAGR of 8.1 percent.
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New digital capabilities within the gifting market are helping companies to be more efficient and creative with their corporate gifting programs, bringing more personalization and usefulness to their gifts. This can provide advantages over traditional corporate gifting programs which have often relied on a “one-size-fits-all” approach where the sales and marketing organization sends standard company swag such as a mug, hat, or a water bottle branded with the corporate logo. There’s nothing inherently wrong with these gifts – some are even useful – but they lack a personalized touch. Sales and marketing teams also need to maintain inventory and storage of these items and have shipping information for their list of recipients at the ready.
e-Gifting changes all of this. With e-gifting, sales teams can send gifts and gift cards digitally in seconds via email or text. Recipients receive a personalized gift notification and can then modify or exchange the gift on their device, before it ships, eliminating the need for sales teams to gather shipping information in advance.
To tap into the power of e-gifting, here are three strategies to help salespeople make a memorable impression with customers, prospects and everyone in between.
One-to-one gifting adds a touch of class
It’s important that you think carefully about the gifts you’re giving. For instance, it won’t bode well if you send a nice bottle of wine to a prospect who doesn’t prefer wine or perhaps doesn’t even drink alcohol. Receiving the generic “Here’s to a wonderful year ahead” card with an equally generic desk ornament indicates indifference. Unfortunately, many corporate gifting programs take this impersonal approach.
Fortunately, there are gifting platforms and technologies that allow sales professionals to choose a gift based on what they know about their sales prospect or loyal customer, whether it’s their favorite sports team, love for the outdoors, or a preferred hobby. Your sales team can easily create a personalized gift collection tailored to an individual’s preferences, allowing the recipient to choose from several gift options. Demonstrating that you really know your customer and appreciate them is a great way to build rapport.
Personalized gifting strengthens relationships
One of the added benefits of using digital technologies for corporate gift giving is that it allows you to show your creativity by including a photo or a video message, which makes the gift more meaningful and tells the recipient that you spent the time to show that you care. This gesture might be the difference between you getting the sale instead of your rival. In fact, close rates have increased for more than 50 percent of sales professionals who leverage video as part of their deal cycle. Advanced gifting platforms also provide an interactive digital unwrapping experience that makes your gift more memorable.
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Simplifying the gift-giving process reduces headaches
Digital technologies have forever changed the way many industries operate, and gift giving is no different. Gone are the days of roaming the aisles in a specialty store trying to find that one perfect gift to put a smile on someone’s face. Not to mention the time required to ship the gift.
e-Gifting platforms not only save time, they also empower the recipient. In the past, if someone didn’t like the gift, they would have to deal with returning it and finding something new. Or perhaps “regifting” to someone else if the gift is something they’ve never wanted or will never use. But with some digital gift giving solutions, the recipient is shown the gift before it ships, which means they can make a change (perhaps the color isn’t their favorite, or they already have the item in question), select what they want, and have it delivered to their preferred address at their convenience. No hassles with shipping or returns.
Thanks to these innovations, the sales organization no longer needs to worry about bulk-buying swag and second-guessing size volumes. This eliminates the hassle of choosing, acquiring, storing, packing, shipping, and distributing gift packages.
It’s a win-win for everyone.
Moving from traditional postal-mail corporate gifting programs to e-gifting not only saves your organization time, money and logistical hassles, but more importantly shows your customers, prospects and everyone in your virtual rolodex that they matter and that you care, which can only help with the next sales call.
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