The corporate world gives out corporate gifts and awards and company’s promotional items in almost the same breath. But there is a vast difference in the value it carries and the reasons for giving them.
Typically corporate gifts and awards are given to cement relationships between the company and its clients, employees, vendors and others who are directly or indirectly related to the growth of the organisation. Promotional items on the other hand are given at the trade shows or with the product as freebies etc. These are low quality low value items given with the intention of making the company’s name popular with the prospective clients. These are mostly simple things like pens, coffee mugs, magnets, golf tees etc that has the company name and logo imprinted on them. Promotional items are actually a part and parcel of marketing and advertising done to increase or create brand awareness of the product or the company.
In sharp contrast corporate gifts and awards are selected with a much higher quality in mind. Sometimes these are even personalized to bear the recipient’s name and stature. And although these gifts and awards too have company’s name or logo imprinted in bold, the intention is not to pass any advertising message.
There is an important purpose why corporate gifts and awards are given and received. Everyone appreciates getting a gift, whatever the reason may be but when a corporate gives out an award or a gift it has a motivational effect on the receiver. Employees feel their work is being recognised and yearn to better their performance; it also encourages others to do the same. Vendors and suppliers when awarded feel encouraged to supply the best products. In other words the recipient it is the company’s or organisation’s way of saying your work is being noticed and valued, keep up the good work. Gifts and awards given out to clients and business associates express goodwill and appreciation.
The market is filled with a variety of items that can be given away as corporate gifts. However the permanent favourite remains the plaques and trophies made from bronze, brass and glass. These can be proudly displayed in the office or at home by the winner motivating and encouraging every time they see it. The size, type and value of these plaques and trophies depend on the relationship the two entities share. Large organisations and companies follow set policies in this regard. In some sectors like the financial services, licensed representatives are not allowed to accept gifts more than a certain value from their clients.