Ahh, the escalating anxiety of whether to business gift, . . . or not. Who makes the cut when giving business gifts? Is there a clear cut way to decide?
If you have a marketing budget than the answer is ‘Yes!’ Gifts are part of your Advertising & Promotions. Typically 2% to 10% of your sales are allocated to marketing (this may vary business to business). From this figure, determine what percentage will be used towards gifts. And lastly, determine who will get the gifts and how often during the fiscal year. The key is to spend (and plan) wisely, always keeping your business goals in mind and tailoring your marketing where needed. Remember when that budget is gone, it’s gone regardless of whether it’s February, June, or December.
3 benefits of gifting:
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