by Joyce Boggerson
More Details at: http://www.legg-work.com
"The Art of Business Gift-Giving"
By Joyce Boggerson
Research shows two primary reasons businesses lose clients
1) the client took a competitive offer 2) they felt you didn't
care about them as clients
Many business make the mistake of servicing the customer/client
once and assume they'll stay forever. So, many businesses end up
spending most of their time and marketing dollars going after new
customers, instead of nurturing existing relationships. Clients
want to be treated as strategic partners and feel that you care
about them.
Consider this, existing clients tend to spend more money and offer
more referrals. So, the moral of the story, spend more time taking
care of your current customer base and your business will be
rewarded with a continuous stream of increasing revenue.
Research also shows an overwhelming majority of people leave
current employment because of;
- the lack of appreciation and recognition by the employer, and
- the absence of teamwork
Employees are your clients too, they also want to feel as though
you care and recognize them as valuable entities. The moral of this
story is the same, the rewards are greater if a majority of time
and effort is spent nurturing the existing relationships.
When is gifting appropriate?
We've listed some occasions when gift-giving would be appropriate.
Client Appreciation
"We appreciate your business" "Thanks for the contact" "Closing
the deal"
Employee Motivation
"Keep up the good work" "Thanks for going the extra mile" "Thanks
for pulling together" "It's time for a vacation, you're looking a
bit stressed"
Employee Recognition
"Company growth-we met our goals!" "Excellent Performance"
"Congratulations on your promotion" "Happy retirement" "Thanks for
pulling together"
It's also important to know your companies policy regarding gift
giving and familiarize yourself with the gift recipients company
policy on gift acceptance. Just as important is to consider
cultural and religious differences when gifting.
When is gifting inappropriate?
Never give during contract negotiations or when it could be
considered bribery.
Good luck in building and enhancing those relationships.
