Ep. 33 - Gifts that Keep on Giving with Bev Barnfather
Nate and Soraya talk to Bev Barnfather from Ladybird Gifts about the importance of corporate gifting and the impact it can have to your brand. This is an episode that found Nate spending an entire weekend making candles to all in the name of gifting.
Ladybird Gifts are here to help you make people feel truly appreciated when you give them something memorable, something worth keeping, something they can use and enjoy. A reminder that you value them. When you receive a quality gift, you think kindly of the person who sent it. You feel grateful.
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People often don’t know what they want to gift or be gifted
Qualifying factors gifts:
- Do they Drink?
- Are they young or old?
- Do they travel?
- Are they family people?
- Do they entertain at home?
What NOT to gift
- Alcohol: with growing cultural diversity, many people may not drink
- Knives: some cultures consider a knife bad luck
- Towels: in some cultures, towels are used to cover coffins
- Certain numbers or number of items: may be considered bad luck
- Sometimes a bad gift is worse than no gift at all
What to gift
- A gift of permanence: even the nicest bottle of wine will be gone once it is finished
- Something that can sit in a marketing space will then put the company name in places where the gift is used
Make sure the dollar you spend generates a return on investment – promotional items often end up in a cupboard or in the bin
Gifting to close deals – can come across as bribery, use caution
Gifting as strengthening customer loyalty – when done appropriately, this is effective
Bev’s ABC to gifting
A: Are you kidding!? – a gift that really doesn’t reflect the value of the customer and their purchase
B: Beyond ridiculous – too much money spent, feels like overkill and maybe makes the customer uncomfortable
C: Comfortable – The gift has clearly had some money and thought put into it but the client doesn’t feel a need to check the price of it.
Is a corporate gift tax deductible?
Generally, gifting is a case by case subject.
Whether gifts are considered entertainment or not, and whether the gift is for clientele or staff, can all affect whether they are tax deductible
How much should I spend on a corporate gift?
Bev recommends 0.02% of the selling price in real estate
Minimum of $50 per person
ELEV8 Business –