One question we get asked a lot here at Lennox Co. is whether or not corporate gifting is worth the cost.
Our answer is always yes, not just because we enjoy crafting incredible experiences for our clients, but also because it’s an incredibly powerful way to build team morale and show appreciation for your clients and colleagues.
Gifting to your clients and colleagues creates reciprocity inside your organization. In Psychology of Persuasion by Dr. Robert B. Cialdini, six principles of persuasion are explained, reciprocity being one of them.
After someone receives a gift, they feel the need to reciprocate the sentiment.This psychological trigger can strengthen your relationship with your employees, creating trust and goodwill. These feelings translate into the way employees go about their roles, and the quality of service they provide to external stakeholders, customers, and prospects.
Even small gifts can make a big difference. If you’ve ever gotten a surprise or treat, you’ve probably felt some kind of emotional reaction. Physical contact with a gift results in the Endowment effect.
This effect creates a sense of ownership over an item which translates into a person valuing it more highly which will increase feelings of reciprocity and trust.
The return on investment of gifting strategies increases based on the gift and experience of receiving the gift itself. We highly recommend an elevated and thoughtful gift, instead of the usual pen and notepad gift.
Thoughtful, curated gifts makes your business more memorable. Whether you’re gifting clients or vendors, a well-planned gift will help your business stand out in a big way, creating a positive and lasting association with the brand.