How Much Should You Spend on Holiday Gifts For Clients this Year?
Austin, Texas: Are you Over-Spending or Under-Spending on Holiday gifts for your clients? Do you even know?
This time of year, one of the most repeated questions are about how much money to spend on Holiday gifts for clients.
The 2 main Holiday gift thoughts are:
- If you spend too little–customers are going to think you are cheap or do not appreciate your business.
- If you spend too much, it looks like you are bribing them or are desperate not to lose them.
So choosing the right Holiday gifts for clients is a fine line.
There are several things to consider when choosing the right Holiday gifts for your clients.
Here are 7 tips for choosing the best Holiday gifts for your clients (in no particular order:
1) What is the lifetime value of that client?
This can make a huge difference in your gifting strategy.
Is it a large one-time client or is it a long-term frequently-purchase client.
2) Are there rules and regulations regarding gifting in their industry?
In some industries, such as Pharma– there are clearly delineated caps.
Others, such as legal and financial institutions, have larger caps.
Be sure to stay within those guidelines.
When in doubt, ask you clients or do a little research.
3) What have you given them in the past?
The past is a pretty good indicator of the type of Holiday gift you should give to your customers again this year. Try to stay within 10%-plus or minus of the dollar spend of last year’s Holiday gift.
4) What is your relationship to your clients?
Is it frequent, cordial, confrontational, or other?
Do you see them in person or is most of your communication done by phone or by email?
Have you met their family or gone out on social occasions?
5) Do you know their personal likes/dislikes?
If you know what particular client likes–then try to find something that he/she will appreciate as your Holiday gift.
6) Why are you giving out Holiday gifts to your clients?
Are you trying to show appreciation?
Thanking them for past business?
Trying to keep your name in front of your clients next year .. and beyond?
Because it is expected?
If you know why you are giving out Holiday gifts to your clients, then it will help in your gift-giving decisions.
7) What does your competition usually give out for Holiday gifts?
When all else fails, try to find out what your competitors have been giving out as Holiday gifts in past years– and use that as your guide.
But if they are giving away Christmas Candy Cakes–do not use that gift as your guide–lol! I dare you to find a more suitable Holiday gift for your clients than that.
Bottom line, there is no hard and fast rule when choosing Holiday gifts for your clients.
I suggest segmenting your Holiday gift list into A-B and C clients.
Your A clients should get more of a personal gift that is unique to them and shows some thought.
Your B clients should get a nice Holiday gift –usually somewhere in the $25-$100 price range–with your logo imprinted in a very subtle way.
Your C clients can get a Holiday card, a nice calendar– or a lower valued gift–depending on their lifetime value.
Holiday gifts should be fun.
Do not stress over it.
I guarantee that with a little pre-planning, your Holiday gift can be one that shows your appreciation and keeps your name in front of your clients for a long time.
Happy Holiday Gifting!
Robert Piller is President of GeekTechBranding.com, the leader in high tech promotional products for all occasions and events.–including year-end Holiday gifts. Since 1981, Robert Piller has been working with companies of all sizes, including Fortune 500 companies, law firms, non-profit organizations, financial institutions, startups and other organizations, to market and promote their businesses using the latest and most cost-effective marketing strategies and incentives.
He is a frequent writer and speaker on marketing and technology topics and loves to share and exchange ideas. Feel free to reach him through Facebook, LinkedIn, Twitter, by email (robert [at] geektechbranding.com) or through this blog
GeekTechBranding.com offers the latest high-tech promotional products –including imprinted power chargers and power sticks, imprinted Bluetooth speakers and promotional ear buds, custom printed tablet sleeves, branded iPhone cases, imprinted USB car chargers, promotional stylus pens, promotional USB drives and hubs and more — all imprinted with your company’s name and logo.