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The Influence of Luxury on Loyalty

Posted on 04/25/14 in Luxury Gifts
Luxury GiftsClients or potential clients who receive elegant gifts are often impressed. A beautiful diamond watch, for example, is a gift sure to be admired and displayed for many years. People who give such gifts are usually remembered in a favorable light, something that can promote serious customer loyalty. The relationship between high value promotional items and loyalty is complex. Read on to learn how expensive promotional pieces affect customer loyalty and whether these gifts can ensure a "customer for life."

The Value of Quality

A gift for your client may be given as a thank you, as support for when someone is struggling, to celebrate a raise or promotion, or as an overall means of encouragement. Luxury gifts are often personalized to reflect the value placed on your relationship with clients. You may even wish to surprise a client with an unexpected gift. It is important to choose the right kind of gift, and not to exceed budget. Always be sure to give a gift you are proud of that exemplifies your sincere thoughts and represents goodwill.

When Luxury Backfires

Inappropriate gifts could have the opposite of their intended effect. At times, they may damage relationships, especially if you're giving a gift as a bribe or payback. An excessively expensive gift may also turn out to be problematic and, depending on your business, may even violate policies which prohibit these types of gifts. Illegal, offensive, or crude gifts give a negative impression of your business, something important to keep in mind.

The Verdict

As a rule, give generously, but not too generously. Promotional items with the company logo, such as calculators, paperweights, and other desk accessories can be wonderful assets. It's also a good idea to give coupons or tickets for entertainment such as local sports games or concerts. For clients who travel often, airport lounge gift certificates to ensure comfort during long layovers are always appreciated. Anything that makes life easier and more enjoyable is a good choice.

While no rules are irrevocable, it is a good idea to create a company policy on gift giving to help ensure no one goes overboard. This can include creating a limit on the value of each gift, or creating a more general ethics policy that discourages bribes and unfairness. Ultimately, it's up to you to decide how gift giving should function in your particular workplace for creating stronger relationships and reaching out to clients.

Author: Robert Stillman CEO

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