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Showing posts with label gift ideas. Show all posts
Showing posts with label gift ideas. Show all posts
Corporate Gift Giving
I have come across some of my clients who have felt the need to give their clients discounts after receiving a gift from one of their clients. Interesting, usually the vendor is giving the gift, but what a great twist.
Impact On The Bottom Line
Contrary to incentives or awards, which are based on merit through past or expected future performance, corporate gifts are generally given expecting little in return other than enhanced relationships with the recipients. The benefits are a little harder to measure but will nearly always be realized.
Contrary to incentives or awards, which are based on merit through past or expected future performance, corporate gifts are generally given expecting little in return other than enhanced relationships with the recipients. The benefits are a little harder to measure but will nearly always be realized.
Even if your intentions are purely altruistic , appropriate corporate gift giving produces a favorable return on your investment.
As a matter of fact, the more unselfish the gift appears to be, the higher your ROI may become. This type of gift giving will produce its own benefits, not only improving your bottom line but making the business more enjoyable for everyone involved.
Give Emotional Value
The most effective gifts, with the highest ROI (in terms of enhanced relationships), are those that provide emotional value beyond the market value of the gift. In fact, some of the best gifts have a very small dollar value, but generate powerful positive emotions that make them very impactful.
For example, the gift of a turkey at Thanksgiving costs just a few dollars, but arouses wonderful nostalgic feelings and memories associated with that traditional American holiday. Few would not be warmed by memories of Grandma’s house, the aroma of roast turkey in the kitchen, and being surrounded by beloved family and friends.
Other examples are turkey or ham for Christmas or Easter, the traditional gold watch at retirement, and giving the gift of choice. Food especially carries high emotional value for special occasions and is almost universally appreciated. Let family and cultural traditions work for you!
Appearance Is Everything
Because the highest ROI comes from emotional value, imprints of advertising slogans or logos, etc., on the gift may actually decrease its impact. Self promotion of any kind included with the gift makes you and your company look selfish and cheap. Leave this for pens, hats, cups, golf balls, and other promotional items that serve entirely different purposes.
Regardless of how convenient they may be, cash or cash equivalents should rarely if ever be considered as gifts to employees, and NEVER to customers, vendors, or others outside your company.
Value Recognition
The value of the gift, both emotional and market value, is primarily recognized at the point of giving by both the giver and the receiver. For example, an employer who gives a gift certificate for a holiday turkey to an employee is better appreciated and fondly remembered whether or not the employee actually redeems the certificate. The retiring employee appreciates the gold watch whether or not he actually wears it. Providing your clients with the gift of choice, you actually give them an opportunity to think of you several times, so it's like giving the same gift over and over again. The employer/vendor has realized much of the benefit regardless of what happens after the point of giving.
However, you can maximize ROI by giving gifts that will also have recognition value at other points in time, such as the point of use and the points of recollection. This is illustrated by the theoretical model on the following page.
The cash gift carries the lowest ROI. Even though it may have a high market value at the point of giving it carries little emotional value and is quickly forgotten as it becomes mingled in the pocketbook with other cash. Most of the time the recipient will not even remember what was purchased, so the cash carries little recollection value.
The gold watch is appreciated at the time of giving and is fondly remembered for years thereafter. But if the recipient chooses not to wear it there is little value at point of use.
The Thanksgiving turkey and giving the Gift of Choice has the highest ROI of the three examples because it carries high emotional value at the point of giving as well as at the point of use and the point of recollection. Recollection value will be especially high if the employee receives the turkey or gift of choice year after year. Note: Gift certificates which can be applied to only one type of item (for example, a turkey, ham or other item) are generally perceived the same as the item itself and will produce similar results.
Gifts vs. Give-Aways
As mentioned earlier, promotional incentives with logos or advertising slogans have no place in a corporate gift giving plan. They may be important, but with entirely different objectives. Usually they are used as forms of advertising, intended to increase brand awareness. Generally they do little to improve personal relationships.
Gifts of trips, restaurant dinners, and tickets to sporting events often also have different objectives and are usually considered as on-going incentive promotional events tied to past or expected future performance. We recommend they be included in your company’s gift giving program only when your company’s management or sales representatives will accompany the recipient to the event, thus maximizing the potential for enhanced personal relationships.
Timing of gift giving
Gifts should be appropriate to the occasion and to the relationship. Too frequent gifts reduce their perceived value. Consider limiting significant gift-giving to special occasions like holidays, birthdays, anniversaries, etc.
Do Your Homework!
Some companies restrict their employees in accepting gifts. Avoid embarrassing yourself and your customer – Make sure his company policies allow accepting gifts, and what conditions may apply. Often this is resolved with a candid question posed to an assistant or secretary.
Liquor and Wine
Although this type of gift has been a traditional favorite in some circles, it is becoming less popular. It may be offensive to some whose religious or personal standards preclude liquor consumption. Never consider liquor or wine as a corporate gift unless you are absolutely certain it will be appreciated by every recipient.
Government Agencies
Gift giving to government officers to promote goodwill towards your company or industry carries its own set of potential legal and ethical problems. Make sure your plan is carefully developed and reviewed by the attorneys and the CEO before proceeding. Avoid any appearance of impropriety.
News Media
Proactively developing good relationships with the news media is a good idea that may come in handy during a public relations crisis. But most media companies have strict policies about accepting gifts. Generally your gift should not be given to a specific individual, but rather should be something that can be shared by everyone in his office. Go the extra mile to avoid any appearance of offering a bribe.
Check the Tax Laws
Check with your accountant or attorney about the tax implications of the gift you are considering. In some situations high value gifts to employees must be treated as taxable income to the employee or may not be deductible by the employer. If the employee must pay taxes on the gift it may cause him enough frustration to negate the emotional value of the gift.
However, if the dollar value of the gift is relatively low and it is given infrequently it may qualify for the “de minimus benefit”, would be non-taxable to the employee, and would be deductible as a non-wage business expense by the employer. According to an IRS bulletin published on their website March 29, 2006, this could include holiday gifts, occasional tickets for entertainment events, and flowers, fruit, books, etc., provided under special circumstances.
The IRS has ruled that items with a value exceeding $100 could not be considered de minimus, and in some circumstances the dollar limit may be lower. Cash may never be considered a de minimus benefit, nor can gift certificates that are redeemable for any of a significant variety of products. However, gift certificates that can be used only on one type of item are considered tax exempt as de minimus benefits. Please check with your tax attorney for more detailed advice.
Gift Certificates
Not only may gift certificates enjoy some important tax advantages for both the giver and the receiver, they are nearly universally appreciated as equivalent to the item they are good for. So they carry most if not all of the emotional value of the item. They are also significantly more convenient for both giver and receiver. For food gifts, certificates also avoid handling problems and costs, as well as food safety concerns with perishables.
As you consider gift certificate suppliers be sure to explore these important issues:
• For employee gifts, the certificate should be good for only one type of product, rather than a cash-equivalent certificate good for any of a broad variety of items. This will qualify it for the IRS de minimus exclusion, making the gift non-taxable for your employees.
As mentioned earlier, promotional incentives with logos or advertising slogans have no place in a corporate gift giving plan. They may be important, but with entirely different objectives. Usually they are used as forms of advertising, intended to increase brand awareness. Generally they do little to improve personal relationships.
Gifts of trips, restaurant dinners, and tickets to sporting events often also have different objectives and are usually considered as on-going incentive promotional events tied to past or expected future performance. We recommend they be included in your company’s gift giving program only when your company’s management or sales representatives will accompany the recipient to the event, thus maximizing the potential for enhanced personal relationships.
Timing of gift giving
Gifts should be appropriate to the occasion and to the relationship. Too frequent gifts reduce their perceived value. Consider limiting significant gift-giving to special occasions like holidays, birthdays, anniversaries, etc.
Do Your Homework!
Some companies restrict their employees in accepting gifts. Avoid embarrassing yourself and your customer – Make sure his company policies allow accepting gifts, and what conditions may apply. Often this is resolved with a candid question posed to an assistant or secretary.
Liquor and Wine
Although this type of gift has been a traditional favorite in some circles, it is becoming less popular. It may be offensive to some whose religious or personal standards preclude liquor consumption. Never consider liquor or wine as a corporate gift unless you are absolutely certain it will be appreciated by every recipient.
Government Agencies
Gift giving to government officers to promote goodwill towards your company or industry carries its own set of potential legal and ethical problems. Make sure your plan is carefully developed and reviewed by the attorneys and the CEO before proceeding. Avoid any appearance of impropriety.
News Media
Proactively developing good relationships with the news media is a good idea that may come in handy during a public relations crisis. But most media companies have strict policies about accepting gifts. Generally your gift should not be given to a specific individual, but rather should be something that can be shared by everyone in his office. Go the extra mile to avoid any appearance of offering a bribe.
Check the Tax Laws
Check with your accountant or attorney about the tax implications of the gift you are considering. In some situations high value gifts to employees must be treated as taxable income to the employee or may not be deductible by the employer. If the employee must pay taxes on the gift it may cause him enough frustration to negate the emotional value of the gift.
However, if the dollar value of the gift is relatively low and it is given infrequently it may qualify for the “de minimus benefit”, would be non-taxable to the employee, and would be deductible as a non-wage business expense by the employer. According to an IRS bulletin published on their website March 29, 2006, this could include holiday gifts, occasional tickets for entertainment events, and flowers, fruit, books, etc., provided under special circumstances.
The IRS has ruled that items with a value exceeding $100 could not be considered de minimus, and in some circumstances the dollar limit may be lower. Cash may never be considered a de minimus benefit, nor can gift certificates that are redeemable for any of a significant variety of products. However, gift certificates that can be used only on one type of item are considered tax exempt as de minimus benefits. Please check with your tax attorney for more detailed advice.
Gift Certificates
Not only may gift certificates enjoy some important tax advantages for both the giver and the receiver, they are nearly universally appreciated as equivalent to the item they are good for. So they carry most if not all of the emotional value of the item. They are also significantly more convenient for both giver and receiver. For food gifts, certificates also avoid handling problems and costs, as well as food safety concerns with perishables.
As you consider gift certificate suppliers be sure to explore these important issues:
• For employee gifts, the certificate should be good for only one type of product, rather than a cash-equivalent certificate good for any of a broad variety of items. This will qualify it for the IRS de minimus exclusion, making the gift non-taxable for your employees.
• Make sure the certificates are redeemable at any retailer carrying the item, not just at specific stores. The broader the reach the more convenient it will be for your recipients, especially if they are spread out across a wide geography.
• The supplier should have a proactive retailer pre-selling program in place to make sure retailers will accept his certificate. This may dramatically reduce the frustration of your recipients having to search for a retailer who will accept it.
Wrap It Up
We hope this brief guide to gift giving has been helpful. We welcome your comments, questions, and suggestions.
Portions of this white paper was pulled from:
Paul F. Reed, President
PFR Corporate Gifts, Inc.
9137 South Monroe Plaza Way, Suite C
Sandy, UT 84070
PFR Corporate Gifts, Inc.
9137 South Monroe Plaza Way, Suite C
Sandy, UT 84070
Ways to Add Romance to Your Dating Relationship
Send a Handwritten Love Letter
It is rare to receive any sort of handwritten letter these days, and that's exactly why you should write and mail a love letter to your partner. A simple card with a thoughtful passage will suffice, although a one-page love letter detailing why you think your sweetie is special is a simple romantic idea that can do wonders for any relationship.
You can also leave love letters in specific places you know your date will find and appreciate - such as in their lunch bag, at the bottom of a pair of socks, or scrawled across a cookie with their favorite kind of icing.
It is rare to receive any sort of handwritten letter these days, and that's exactly why you should write and mail a love letter to your partner. A simple card with a thoughtful passage will suffice, although a one-page love letter detailing why you think your sweetie is special is a simple romantic idea that can do wonders for any relationship.
You can also leave love letters in specific places you know your date will find and appreciate - such as in their lunch bag, at the bottom of a pair of socks, or scrawled across a cookie with their favorite kind of icing.
Top 10 Love Letter Collections
By Esther Lombardi, About.com
1. 50 Greatest Love Letters of All Timeby David H. Lowenherz. Random House. For this collection, David Lowenherz draws from hundreds of historical sources to find witty, sexy, and touching epistles. What do these letters say about the writers? Read more about history's most famous lovers.
2. Love Lettersby Peter Washington, and Kevin Young (Editor). Alfred A. Knopf, Inc. This collection features 200 love letters from poets and by princes--both fictional and from "real" life. These letters delve into the realms of tragedy and comedy. This book is beautiful, perfect for anytime you're in the mood to read about love.
3. Love Letters: A Romantic Treasuryby Tara McFadden, and Rick Smith (Illustrator). Running Press Book Publishers. From the publisher: "From sweet nothings to the profound insights of a person's soul, love letters capture a rare glimpse of our innermost thoughts and desires. Here we see love as defined by literary greats of the last two centuries, including Franz Kafka, Anais Nin, Jack London, and Vita Sackville-West."
4. The Letters of Abelard and Heloiseby Betty Radice (Editor). Penguin. This collection features the work of Michael Clanchy, the biographer of Abelard. The Letters of Abelard and Heloise features advice from Abelard, as well as the "lost love letters." This book also features a chronology, notes, and maps. You'll get a good sense of the time, and the relationship of Abelard and Heloise--one of the most tragic love stories of all time.
5. Little Book of Love Lettersby Lil Copan, Elizabeth Cody Newenhuyse (Editor). Love letters can be funny, touching, or romantic. Drawing from classic sources, this small volume offers a collection of love letters with a variety of sentiments.
6. A Love No Lessby Pamela Newkirk. Doubleday & Company. This collection features letters of African American lovers. You'll read love letters between slaves, but you'll also discover love letters from Paul Laurence Dunbar, World War II soldiers, and other writers--through time.
7. Love Letters, Lostby Babbette Hines. Princeton. This collection was salvaged form a variety of sources. Babbette Hines also offers suggestions on how to write a love letter.
8. Selected Lettersby Robert Gittings. Oxford University Press. Selected Letters features 170 letters, written between 1816 and 1820. Jon Mee includes an introduction and notes.
9. Journey from withinby Charlotte Perkins Gilman, Mary A. Hill (Editor). Bucknell University Press. Charlotte Perkins Gilman is famous for "Yellow Wallpaper," and for her place in the feminist movement. With this collection, you'll see a whole new side of her life and works. Mary A. Hill includes an introduction and notes to put the letters into context.
10. The Lost Love Letters of Heloise and Abelardby C.J. Mews. Palgrave Macmillan. The relationship--through letters--between Abelard and Heloise have been a matter of some controversy and debate. Read more about the letters.
Romantic Ideas
By Bonny Albo, About.com
Take Notes of What Your Loved One Likes
When your loved one mentions a romantic idea or item in passing that they'd enjoy, write it down on a personalized yet private "romantic idea wish list". There is no need to show your loved one that you have such a list, but make sure these romantic ideas are something you carry around with you at all times (say a piece of paper tucked into a corner of your wallet or a tiny notepad in your purse). Then, when your loved one express interest in a particular item or romantic idea - say a CD, book, movie, trip, culinary experience, concert, sporting event or gizmo - jot it down. When an anniversary, birthday, celebration or "just because" day rolls around, you'll have a large list of romantic ideas and gifts to pick from that will show how much you care and pay attention.
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