Giving corporate gifts is normal between businesses and clients. It is an expression of appreciation for a good working relationship between two parties. Some may do it to follow tradition while others really go out of their way to acknowledge the business relationship. After all, businesses and clients alike live in symbiotic relationship with each other.
There are, however, some unwritten rules when it comes to business gift giving. Before you give corporate gifts, make sure you are not getting your own business in trouble.
Here are some things to remember:
Timing is key
Gifts usually act as an expression of gratitude for another party. While fit giving is harmless, it can take on a different meaning depending on your timing. Giving grand gifts before a deal may be seen as a bribe. Favours like this are illegal and may get your business in a legal trouble. No matter how grand the gift is, it may send the wrong message across. It is always better to give gifts after a project is done or a deal is made. The reputation of your company is at stake if word goes out that you engage in illegal transactions.
Mind the culture
Different countries have different meanings associated with gift giving. How you present your gift may mean one thing and mean another when received by a group from a different place. Of course, the last thing you want to do is offend someone while you have every good intention attached to your gift. Do your own research on what is best or appropriate for the receiver. A gift that went a lot of thought and effort into is always greatly appreciated.
Generosity is always a great thing for your business. Keeping business relationships positive opens you up for more opportunities in the future.