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3) Appropriate in Cost: The gift needs to remain preportional to value of each customer in terms of returns. ( Don't forget referrals here. If you have a customer that only purchases $100 annually but has given you 30 referrals that amount to $8,000 in sales, show customer appropriate appreciation for those referrals.) Of course cost of gift should be in direct relationship to amount of purchase. If your auto shop just sold a $20 oil change to a customer you aren't going to give them a $5 dollar gift certificate. But your client just purchased a $1,000,000 home from you they probably won't be impressed with a Home Depot $25 gift certificate. That is why it is so important to figure cost in as a part of doing business. If you have been going "paycheck to paycheck" and are strapped for cash when you make a sizable sale and all profits of that sale need to go to pay bills then you will be losing opportunity to secure that customers loyalty. The cost of gifting needs to be set aside and used promptly to let clients know you appreciate their business. If you wait until end of year, they may have moved on to another company and you have lost them as a client. Its too little too late.
4) Branding: Finally, don't miss opportunity to brand your company through your gifts. If you sell office copiers, your gift might include a maintance service or monthly paper supplies, or a free toner. When your client thinks copiers make sure he thinks of your company only. Make your clients rave about how you "take care" of them. They will come to depend on you for your service and expertise as well as your products.
Owner Lasting Impressions 2 Corporate gifts and greetings