As we near the Fall season, it’s time for most businesses to start thinking about their holiday business gifts. Have you and your company made your plan yet? It can feel overwhelming – trying to remember so many important clients to thank, employees and vendors. If you haven’t gotten your list together yet, here are some tips to develop your holiday gifting game plan.
How To Develop Your Holiday Gifting Strategy
STEP ONE: Make Your List
Consider your most important clients, customers and business partners first. Then move onto your employees, followed by your list of vendors. You can decide how deep you want to go into gift-giving this year!
STEP TWO: Segment the List into Tiers
To make sure that the gift you send to a recipient also sends the right message, it’s important to consider the value of the relationship you have with them. For example, the top client who has given your company a lot of business this year and the vendor who delivers bottled water every week (while that is valuable – stay hydrated!) would not get the same gift.
STEP THREE: Determine Your Gifting Budget For Each Tier
Based on your holiday business gifting budget that’s been set for the year, you will want to determine how much you’re going to spend on each individual gift in that tier. There is no wrong or right answer here! Based on your company’s yearly gifting plan, decide the price point parameters you’re going to adhere to for each tier.
Now that you’ve got your plan in place, here’s a helpful article about three more strategies that help maximize the ROI of business gifting.
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