Custom corporate gifts are great for employees, clients, or business partners. However, before you plan for your next corporate gift project, you must fine-tune your budget.
In this guide, we'll discuss how much you can expect to pay for corporate gifts for clients, employees, and prospects. You can use this guide to budget for the holidays or special occasions. Here's everything you need to know:
How Much to Spend on Corporate Gifts
When fine-tuning your budget for corporate gifts, there are a few things you'll need to consider. This includes:
- Audience
- Budget
- Goal
- Occasion
You'll also want to consider how many people you want to give gifts to this year to determine the total spend and how much you want to spend per person. This will also help you decide how much to spend on corporate gifts for the year without breaking the bank.
How much do you spend on corporate gifts for clients?
$20 - $75 is a great price range for corporate gifts for current clients. However, when buying corporate gifts for clients, you'll want to consider how much they pay your company. You may decide to spend more on gifts for clients that spend more with your company. Great high-end corporate gifts include power banks, speakers, stainless steel tumblers, and executive pen sets.
How much do you spend on corporate gifts for employees?
Depending on how many employees you have, $15 - $50 is a great price range to stay in. If you buy one item, you may choose a higher-cost item. If you plan to create a new basket or new member kit, you may purchase a few smaller items instead. High-end gift options in this price range are computer backpacks, sweatshirts, tote bags, and stainless steel water bottles.
How much do you spend on corporate gifts for prospects?
$5 - $15 is the ideal range for gifts for prospects. Since these individuals have not spent money with your company, you don't need to spend too much on the gifting. A gift alone is a sign of appreciation and will help keep business top of mind.Consider tote bags, water bottles, or coffee mugs for your prospects.
How much should you spend on corporate gifts for customers?
$5-$15 is a great price range to rekindle a connection with a past customer. Coffee mugs, plastic water bottles, and t-shirts are great items in this price range.
How much should you spend on corporate gifts for business partners?
Consider gifts in the $15 - $25 price range. Gifts like executive pens, backpacks, or soft shell jackets are great for solidifying business partnerships.
Budget Tips for Buying Corporate Gifts
Are you working with a small budget this year for corporate gifts? Here are five budget-saving tips you can use to save money on your order:
Buy in Bulk
Buying in bulk will ensure you get the best possible price for your order. If the corporate gift item appeals to a larger audience, you can buy a few extra items for prospects and employees.
Stick With a Simple Silkscreen Imprint
Most corporate gifts come with a one-color, one-location silkscreen imprint included in the price. If you want to explore other decoration methods or add additional colors, you may need to pay an additional setup fee.
Silkscreen imprints offer a clean, crisp design. It's a great low-cost choice that will complement your branding and help you save on the overall cost of your order.
Purchase in Advance to Avoid Rush Fees
If you wait until the last minute, you may need to pay rush fees or expensive shipping charges. If you plan ahead, you can stick with standard shipping and have more time to explore different corporate gifting options.
Buy Gifts Your Clients and Employees Will Like
The cost of promotional products typically gets better the more you buy. So, if you decide on a versatile item that appeals to both audiences, you can save more when you buy in bulk. Great versatile options for corporate gifting include backpacks, tote bags, tech items, and apparel.
Stick With a Simple Artwork or Design
The more colors you add to a design, the more you have to pay. A simple one-color design is the most affordable way to save on corporate gifts. It's also a great way to maintain a high-end, professional look on your items.
Shop Our Custom Corporate Gift Collection
Corporate gifting can help you strengthen your relationships with your target audience. It's also a great way to build brand awareness around the holidays and improve customer loyalty.
When deciding how much to spend on corporate gifts, always consider your budget, audience, and goal. This way, you can create a budget that aligns with your needs as a company.
At Bagmasters, we have many high-end corporate gifts available at various price points and minimum quantities. We also offer quick turnaround times and superior customer service.
Shop our corporate gift collection today to get started.
