If you don’t think of your product as “perfect gift” material, think again. Even the most functional items—from mattresses to air purifiers—could be exactly what someone needs. Not surprisingly, automated reward systems are the new trend in business this year.
By integrating an automated gifting platform, companies could increase customer retention rates and save their human capital. Recently, many businesses, including banks and airlines, have started building their own systems. Some recent examples include banks, airlines, consulting, and accounting firms.
What are corporate gifting systems? They differ somewhat from e-commerce platforms, although they also make your company’s products more accessible. Gift automation systems send your products as corporate gifts at scale on holidays, birthdays, and other special occasions.
These platforms are an ideal substitute for the spreadsheets that companies often use to organize the gift-giving process. With your own gifting platform, you can set the budget, manage your recipients’ contracts, schedule gift deliveries, collect data, and more. With AI, your corporate gifting platform can also help personalize your presents.
By analyzing an individual’s keywords, digital footprint, social media, and preferences, AI-based gifting platforms offer a selection tailored to your recipient’s personality. This means your employees and customers end up with gifts they’ll actually appreciate.
AI plays an important part: with gifting, it’s the thought that counts. According to “The 2021-22 Employer Gift-Giving Report,” which cites a survey of 1,092 U.S.-based employees, impersonal gifts can be a letdown—even more so if your recipient is in a higher income bracket, bringing with it higher expectations for corporate gifts.
The vast majority of employees with a household income of $100,000 or more felt the presents they received from their employers were “generic.” Also, 42% of respondents—nearly half—were given items they didn’t want in the first place. What’s more, 37% reported a sense that their employers did not appreciate them. AI-based corporate gifting systems provide a simple, one-step solution to these problems.
Here are just a few more reasons to integrate a corporate gifting platform:
- Productivity and efficiency. A gift-ordering system like this can save a huge amount of time for your brand on the operation side of things.
- Customized features. You can customize the features of your brand’s platform to include marketing reports and more.
- Special bonding with top clients. The inclusive gifting platform will also create a unique bond between your brand and its VIPs.
- Customer retention. A personalized gifting experience will keep your customers coming back for more.
- Saving human capital. Corporate gifting platforms can reduce employee workload, especially for marketing departments, which normally handle corporate and customer gifts.
The U.S. corporate gifting market is projected to grow to $306 billion by 2024, at a rate of over 8% a year, Coresight Research projects. Businesses around the world are spending more on gifts, according to our data: last year, the average check increased by more than 70%. By launching your own corporate gifting platform, you can tap into this new emerging trend, which could redefine the future of your professional relationships.
About the author:
Archer Chiang, CEO and founder at Giftpack, a pioneering AI-based gifting service analyzing the recipient’s digital footprint in order to suggest personalized gift options for each individual. Giftpack is Archer’s fourth business. He is 29 years old, and he started his first company when he was 19. The New York-based startup serves 1,142 corporate accounts in addition to thousands of individual clients and has offices in Tokyo, Seoul, San Francisco, and Taipei. The Giftpack team will be attending London Tech Week.