Here's How to Budget Your Corporate Gifts

When individuals receive a corporate gift, a recent study in Forbes shows that 57% of respondents are impacted positively or negatively. Make it a positive impact by selecting a great gift that shows your sincere appreciation. Business gifts to employees, business affiliates, and customers can nurture and deepen relationships of trust between the recipient and your brand. However, as budgets are a real issue in keeping operations afloat, how do you buy the right amount of items to satisfy all your corporate gifting needs? Here are some tips on how to make corporate gifts a part of your business.

Set a Budget

Every healthy budget has limits set for different expenses. Just as you set aside money for utilities and payroll, you should also make room for promotions and networking. How much you have in this account will determine the maximum amount you can spend per person. The good news is that there are excellent gift options at each price point. When you give a thoughtful gift, people take notice and feel appreciated.

Gifts Under $5

When you have a large group to reward, it’s not logical to spend a lot of money on each item. Expenses add up quickly, so if you intend to give out hundreds of corporate gifts, it’s wise to keep things small. A decent range to aim for is under $3–$5 per person, which is possible when the gift is casual yet thoughtful. For example, bulk company mugs can be paired with a few pods of instant coffee or cocoa and wrapped in a colorful cellophane bag and bow. This gift is highly useful, looks good, and has value for the recipient. Small gifts under $5, such as logo pens and notepads, are also good to order in bulk for year-round use. They make excellent workplace stocking stuffers and items to distribute at community events and trade shows, too.

Gifts Under $25

If you have a smaller pool of business affiliates or partners to gift, it’s possible to spend more per person. If your group is under 50 people, gifts under $25 are priced just right to present a bigger gift that expresses a sincere appreciation. For example, a canvas wine tote with some sparkling wine inside is a festive end-of-the-year gift that can pair nicely with a small meat and cheese board. Other great items under $25 include a fleece scarf, custom uniform work polo shirt, and fleece hat. Express your sincerity with gifts like this, and you’ll strengthen your business ties.

Gifts Under $50

When there is an outstanding team in your company that has gone above and beyond, or perhaps a business partner who has seen you through a tough year, gifting a higher-priced gift around $50 is in order. Select items like long-sleeved fleece jackets, puffer vests, and the highly durable custom work totes that has many uses. Fill this tote with other thoughtful items like a stainless steel tumbler or Sherpa throw blanket that you know your recipient will love to take home. The more you know the person, the better you can select the high-quality items to include in their meaningful gift. Your recipient will see the love and care you have put into the gift when it’s tailored just for them!

Gifts Under $100

If you have an inner circle of close corporate partners, an employee of the year, or any other small pool of individuals, a gift that costs around $100 is feasible for a standard budget. With this price point, you have more options than ever. For example, a deluxe briefcase is a stunning gift that you can also monogram to personalize for your recipient. Choose one with a cushioned shoulder strap to make it easy to travel with, plus interior padded sleeves to protect their tablets, chargers, and other electronics from impact and extreme temperatures.

Go Above and Beyond!

If there is someone for whom you want to go the extra mile, don’t let the $100 marker stop you. Put a good bottle of wine inside a wine tote to increase the value of the gift in a flash. Select world-class cheeses when you set up their meat and cheese basket. If you are giving a set of golf balls, include a brand-name golfing glove and embroidered terry cloth towel in the package to make a high-value gift that will be enjoyed for years. Premium gifts like a 3-in-1 Squall jacket are also timely and useful end-of-the-year gifts that can be used for work or leisure.

Which corporate gifts catch your eye? Incorporate any of these wonderful items into your gifting budget to fortify your professional connections.