Importance of corporate gifting in fostering business relationships

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Role of gifting in nurturing long-term business relationships

There is no denying the fact that the success of a business is dependent on its ability to nurture long-term relationships. This is especially true given the high cost of acquiring new customers and finding trustworthy business partners. The way a business treats its customers, associates, partners and employees goes a long way in helping the business. There are numerous points to be taken into consideration here, including:

  • Build its brand equity
  • Tap newer markets
  • Achieve customer loyalty and repeat business
  • Ensure employee engagement and loyalty
  • Improve teamwork

Corporate Gifting is an effective way to build and nurture rewarding relationships and the festive/holiday season or key milestone celebrations are the perfect occasion when gifts are exchanged.

How Corporate Gifting helps nurture relationships

Gifting is a great way to stay in touch and tell the recipients that you value them. With the upcoming Christmas and holiday season, gifting is the best way to make people who contribute to your success feel valued.

Gift cards are fast gaining acceptance across developed and developing markets. In India, this trend is pretty visible not only in tier- 1 cities, but also in tier-2 and tier 3 cities of the country. The numbers showcase the same story. The global gift cards market, currently valued at $307 billion is expected to reach $698 billion by 2024, as per a projection by Qwikcilver, a Pine Labs company.

What is the perfect corporate gift?

Research shows that when gifts are personalized and relevant to the recipient, they have the maximum impact. However, when you need to give gifts to so many people, how do you ensure that each gift is equally delightful for all types of recipients?

With digital transformation and the rise of online commerce and fintech in India, the answer comes in the form of gift cards and vouchers. These gift cards end up giving the 'power of choice' to the intended recipient where they can themselves decide on what they want, rather than getting something they will never use. The gift cards are a preferred option, not only for the Pine Perks from Pine Labs is one such gifting option that allows you to offer personalized gift cards and vouchers from over 100 leading brands that recipients can redeem at 19,000 retail and online stores.

Pine Perks allows you to tailor your employee rewards program or customer/partner loyalty program through multiple gifting modes, including brand gift vouchers, coupon codes, e-cards and physical cards that can be swiped directly at partner brand stores, both online and offline.

This is not all. You can also offer 'Meal Cards' to your employees to enjoy tax benefits as these cards are also redeemable at leading restaurants.

All this with the benefit of safe and secure transactions.

You can check orders, top-up card balance and access gifting reports on the dedicated www.pineperks.in website. In addition, you don't have to worry about logistics, as the vouchers and gift and meal cards can be delivered via e-mail and SMS.

Download the Pine Perks app, now available on iOS and Google Play.

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