3 Criteria For The Best Corporate Gifts
1. Budget
All business organisations have an allocated budget for every expenditure, every spending so as to avoid overspending and that all missions are executed to realize company vision(s) in the shortest possible time frame. Deciding the best gift product for corporate gifting has to begin with budgeting because the wide array of corporate gifts is simply limitless. You may get pretty excited with so many choices to begin with, but you really don't want to get carried away with unique and attractive gift products to know in disappointment that the allocated marketing budget isn't able to afford them.
Budget must really come into the picture first in corporate gifting, as this is the very root which decides what you can give to your valued recipients.
2. Quality
"Price is what you pay. Value is what you get." A well-known proverb well spoken by
Warren Buffett whose net worth is
$53.5 B as at March 2013. The proverb is also known as, you get what you pay for. In general terms (this is emphasized), better quality products usually come with a higher price tag because of better quality raw materials used to make them. It may not be completely like a 100% true and totally justified but just about everyone agrees that it does make sense.
Let's take a Mac computer vs. a Dell computer; a BMW car vs. a Proton car; a Louis Vuitton hand bag vs. a Coach hand bag. These brands are equally well known but they do have a significant price gap, and quite a prominent variance in durability and performance in these comparisons. Say, a car owner who owns both a BMW car and a Proton car, he would never expect his Proton car to perform as good as his BMW car and if his Proton car happens to break down first he'd think that it's perfectly reasonable. Conversely, if his BMW car breaks down first he'd be extremely upset because he'd feel that he did not get what he paid for whereby the perceived value is higher. Yet, sometimes some people may perceive that buying in bulk, say 50 units or 100 units or 100,000 units, or even 1,000 000 units it entitles you to a huge discount, well it's true, if the volume hits a whopping 5 or 6 digits or more, HOWEVER what most people fail to realize is that if a BMW 5 series is purchased at 100 units; BMW won't offer a 50% discount for each BMW 5 series car purchased.
The point is, every product has its cost price (fixed costs + variable costs), its lowest selling price based on market perceived value will not be reduced anymore regardless if the products are purchased in bulk/huge quantities. Things which are new, limited, rare and in high demand; they always come with a big price tag. They shine bright like a diamond.
3. Lead Time
Always plan ahead. Failure to plan is usually a plan to fail - this is what the wise people always say, it does not come from anyone specifically. Always allocate 1 - 2 months time, or better, plan 3 or 6 months ahead of the event/celebration date. Failing to plan would mean by the time everyone gets to sit down to a tabled discussion, it is always a last-minute thing whereby choices are reduced to a really small number.
Given any project, it needs ample time for planning ahead and get things done through organized milestones. Ample time can sometimes not only ensure bigger quantity but most importantly, better quality!
You see, if it is done correctly, corporate gifting is a cost-effective and powerful way to strengthen your company value amongst your internal and external stakeholders. You just have to do it right. Let us make that happen for you, so visit
www.epromo.com.my today!
This article is brought to you exclusively by Epromo Malaysia . Everest Promo Sdn Bhd.
