Frugal gifts: a costly mistake

It’s common to be budget-conscious when corporate gifting, but this approach might cost you more in the long run. Cheap gifts often go unnoticed and end up being tossed aside or thrown out entirely. Low-cost gifts often do more harm than good, so it’s best to consider other options.

Many companies make the mistake of thinking sending something is better than nothing, but studies show this isn’t necessarily the case. A study found only 21% of corporate gifts are kept — many are thrown away because they are not useful or relevant to the recipient's interests or are of poor quality. 

Discarded gifts aren’t just costly to your company’s bottom line, but also to your company’s reputation. Your choice of corporate gifts acts as a reflection of your business and its values. Inexpensive, generic items give the impression your company cuts corners or undervalues relationships. Frugal gifts can backfire, leaving recipients feeling disappointed and more likely to leave negative feedback about your brand.

While cheap gifts hurt your credibility, carefully selected, top-quality gifts showcase a commitment to excellence and attention to detail. The gifts you give reflect your company, and leave a lasting impression.

The good news is you don’t have to spend a fortune to make an impact. A budget between $50 and $75 should suffice, and Corporate Gift offers a wide variety of unique gifts that will appeal to top talent. Here are some suggestions for determining how to allocate your budget while searching for thoughtful corporate gifts.

When it comes to gift-giving, the thought and effort behind a gesture is what matters most. High-quality, meaningful gifts convey a sense of appreciation low-cost alternatives often lack. This, in turn, strengthens relationships and enhances your brand's reputation. Instead of gifting generic gifts like branded bulk totes or pens, choose gifts relevant to the recipient. Corporate Gift makes this easy by allowing you to shop by interest like travel, wellness, cooking, and more. 

For example, if your recipient is a coffee lover, consider gifting a gourmet coffee bean subscription or a stylish French press. If they’re into fitness, you might consider an activity tracker or fitness equipment. Look for gifts that fit their lifestyle and will appeal to their day-to-day lives. And for an added extra special touch, personalize the gift.

If you're looking for a more effective way to use your budget, adjusting the size of your gifting list can make a big difference. By narrowing your list, you can invest more in each gift and increase your spending from $50 per gift to $100-$150. This gifting strategy also comes with a higher potential for return on investment since your recipients are likely to hold on to their selections.

Skip knockoffs and gift popular, name-brand items instead to make an impression.

Need a budget-friendly solution that won’t go to waste? Consider giving food or a bottle of wine. Remember to ask about their diet preferences. Or give gifts for their home, like drinkware from a popular retail brand.

Being frugal may save you a few dollars in the short term, but it often comes at the expense of missed opportunities and uninspiring gestures. The act of gift-giving is an opportunity to build and strengthen professional relationships, Attention to detail sets you apart from the competition and builds brand loyalty. Skip budget gifts, and splurge on something your recipients actually want.