Corporate gifting, or the practice of gift-giving to people involved with a business, as well as being a great way to show appreciation, is also an incredibly effective promotional activity for any brand. These items are know as giveaways or swag and are promotional products that companies give away for free to promote their brand.
These items can range from practical items like pens, water bottles, and key chains to more unique items like t-shirts, tote bags, and technology accessories. The goal of these items is to create a memorable impression and leave a lasting impact on attendees. By giving away these items, businesses can generate brand awareness, establish brand loyalty, and increase customer engagement.
According to recent studies, corporate gifting has grown considerably in the last 4 years, especially since the beginning of the COVID pandemic at the beginning of 2020.
In 2022, the UK's corporate gifting market alone was worth around £78.3 million.
In addition, further studies show that corporate gifting results in approximately 88% recall, or in other words, the percentage of people who remember receiving a corporate gift and associate it with the company that gave it.
This highlights the impact that a well-chosen and appropriately timed gift can have in securing repeat business.
The significance of corporate gifting in business strategy is further emphasized by the results of a One4All Rewards survey, which found that 95% of British business leaders consider it a critical component of their strategy.
According to Alyce, the third main occasion for corporate gifting, after the holiday season and thank you gifts respectively, is at trade shows and events. Studies show that more than 62.30% of delegates regularly use promotional swag gifts at home.
So why can giveaway gifts be so successful? We believe the secret lies in finding the perfect balance between 1. offering a well-chosen gift and 2. striking the powerful emotional experience that receiving a gift can create, generating a sense of connection.
Amongst the results gathered from industry surveys, we noticed two main points which we believe go hand-in-hand and represent a significant opportunity:
the public expects and is happy to receive giveaways at tradeshows;
however 91% prefer not to use heavily branded items in public.
This clearly shows an opportunity for businesses to consider more subtle branding when it comes to giveaway swag, making a more positive impact and prolonging the life of the gift.
Benefits of giveaway swag items
Although giveaway gifts have been utilised for quite some time, the benefits are still numerous and timeless:
Brand Awareness: Giveaway gifts are a great way for companies to increase brand awareness and recognition among their target audience. By branding, personalising and choosing unique gifts, companies can effectively spread the word about their brand to potential customers and stand out from the competition, making a lasting impression.
Customer Loyalty: Providing customers with free gifts can help foster a sense of loyalty and appreciation. This can lead to repeat business and positive word-of-mouth recommendations.
Networking Opportunities: Giveaway gifts can also serve as conversation starters and can help break the ice in networking situations. Companies can hand out gifts at industry events, trade shows, and other networking opportunities to make new connections and strengthen existing relationships.
Employee Morale: Companies can also use giveaway gifts to boost employee morale and motivation. Providing employees with branded merchandise can help create a sense of unity and pride among the workforce.
Marketing and Promotion: Giveaway gifts can be used as part of a larger marketing and promotion strategy. Companies can offer gifts as incentives for completing surveys, signing up for a newsletter, or making a purchase.
Cost-Effective: Compared to other forms of advertising, giveaway gifts can be a cost-effective way for companies to promote their brand offering a high return on investment and reaching a large audience.
Increased engagement: Swag can increase customer engagement by creating a memorable experience for attendees. This can lead to increased brand loyalty and repeat business.
Positive Publicity: Companies that engage in giveaway campaigns can generate positive publicity and media coverage, which can help to further increase brand awareness and recognition.
Shortfalls of giveaway swag items
Despite the many benefits of giveaway swag items, there are also some shortfalls to consider:
Cost: While giveaway swag items can be cost-effective, they can also be expensive, especially if high-quality items are chosen.
Waste: Giveaway swag items can create waste if they are not used or if they are discarded after a short period of time. This can be a concern from an environmental standpoint.
Unmemorable: Giveaway swag items can be forgettable if not unique or if they are not of high quality. This can lead to a lack of impact and a lack of return on investment.
These shortfalls however, can be easily rectified by simply choosing gifts that meet the budget, are unique and useful, and are environmentally friendly.
Latest 2023 trends of giveaway swag items
Unsurprisingly, the latest trends show a need for items that are useful and eco-friendly:
Sustainable and eco-friendly products: Swag items that are biodegradable or that are made from recycled materials, such as recycled paper products, are becoming increasingly popular.
Personalized items: Customized clothing, bags, and other items with the recipient's name or initials are an excellent way to add a personal touch.
Reusable items: Reusable coffee mugs, bags, and other items that encourage sustainability are gaining popularity.
Office accessories: Customised desk organisers, notebooks, and other office accessories are useful and practical gifts that can be used by employees and customers alike.
Food and drink items: Snack packs, coffee packs, and other food and drink items make great swag gifts, especially when branded or when they feature a message.
Fun and games: Customized playing cards, puzzles, and other games are great swag items that can be used to promote your brand while providing a fun experience for the recipient.
Wireless charging devices: Wireless chargers, power banks, and other portable charging devices are useful and practical gifts that can be appreciated by employees, customers, and clients.
Tech accessories: Customised phone cases, wireless accessories, and other tech items are always in demand.
Health and wellness products: Fitness trackers, water bottles, and other health and wellness products are popular swag items that align with current trends towards healthy living.
Here at Ribbon & Wicker we believe that well-thought and responsible giveaway gifts alongside a strong marketing strategy can go a long way in promoting a brand.
In fact, we offer responsible Corporate Gifting solutions for any enquiry. Contact us to discuss and to receive a tailored proposal, we will take care of everything from printing literature to delivery!
Sources
Truly Experiences, January 2022
Alyce Corporate Gifting survery, August 2016