Many business owners who host events give some form the gift as people leave. This swag can include samples of a new product, treats, or some kind of branded item to act as a form of advertising. And while these gifts, when properly done, can be a great addition to an event, they more often than not simply wind up in the trash. So if you are hosting an event and considering giving a gift of some kind, consider these pros and cons.
Reminder – A good corporate gift can serve as a reminder of the event. If it was an event to thank clients or employees, that reminder can reinforce goodwill. If the event was for a specific product launch, the reminder can help to lock in a sale.
Branding – Things like Yeti cups, water bottles, and tech items with a corporate logo will often get used even with a logo. These are universal gift ideas that most people will have a use for, meaning they will be appreciated and will be a good way to spread your name.
Taxes – You can legally deduct up to $25 per guest for gifts. By giving a gift, you can also give yourself a tax deduction.
Expense – The average cost of a gift after a corporate event hovers right around $50 per guest. If the gift becomes a last minute add-on, that cost can kill a budget. To compensate, many make the mistake of cutting something else from the event. If the gift was not important enough to warrant attention in the beginning, it probably isn’t important enough to take away from the actual event.
Tackiness – This is subjective, but many gifts come across the wrong way. If a gift goes over-the-top with corporate logos, many guests will simply roll their eyes. No one wants to be a walking billboard for your company.
Waste – If the gift is not something that can be used by everyone, then it can often go to waste. As nice as that makeup kit might be, if half of your guests are men, they will not appreciate the gift. And don’t try to reason that they will give it to a significant other or loved one – that defeats the purpose of the gift.
Ultimately, you need to decide if the gift you are giving will be appreciated, will help in landing sales, and will not go to waste. If the gift will check all of those boxes, then you need to be sure it will not break the budget. If so, then it is probably appropriate to give a gift. If not, no gift can often be better than a bad gift.