We’ve all been on the receiving end of a ‘thank you’ gift. It makes you feel appreciated and special. Everyone loves a gift but no-one likes a generic or thoughtless gift, like receiving a bottle of red wine when all you drink is white. Client gifting is a huge part of successful selling, and if you can get your gift selection for your client spot on, it could win you a client for life. We understand that many companies might have a standard array of corporate gift ideas (most likely a cupboard of pens, fridge magnets and paper-weights) that they allow their sales team to choose from, but unless it’s a Mont Blanc no-one remembers a pen! Everyone will remember a personalised gift that is really saying “thank you” from the heart.
Set a budget
As an advisor with your own budgets to manage, we suggest first setting yourself a reasonable ‘gifting’ budget to work with, one that doesn’t break your profit margins. We would recommend looking at 5% of the commission earned value, which is a fair amount depending on how much the client has spent with you. You might even consider ranking clients based on their spend, and allocate gift values based on the categories, ‘A’, ‘B’ or ‘C’ clients.
It’s not a bribe
A gift should only be given to a referral client, once the referral they’ve given you has actually turned into new business. Giving clients gifts for simply giving you reams of names should not be the expectation. It’s a simple “thank you for sending business my way”.
Aim for personalisation
Find out what your client really loves or is deeply interested in. Do some digging and perhaps ask their secretary or spouse for some inside information. What do they like? Which kind of wine do they prefer? What is their favourite past time? These are all great questions to help give you get ideas for personalised gifts.
Think outside of the box on deciding on a gift. Go for quality and style. How about an engraved hip flask if they’re a whisky connoisseur or a subscription to Runner’s World magazine if they’re an avid runner?
Choose a gift that keeps you top of mind
A once off gift is always great but once it’s done its done. Try and get creative with gift ideas that could keep reminding the client of you each time they use it. Even though a decadent bottle of wine is a great personalised gifting idea (especially for a wine-lover) a magazine subscription might make them think of you each month when it arrives, and will keep you top of mind.
A well-thought-out gift; personalised with genuine gratefulness will speak volumes to your client. It will show them your gratitude and will more often than not ensure that they remain a loyal client for years to come. Remember, this is an investment back into your business and you really shouldn’t consider it a grudge purchase. It’ll pay back. Every time.
Want to know more great sales tips and how to create a lifelong client base, contact us at DFC Greater Gauteng now.
At DFC Greater Gauteng, we strive to give our brokers the best possible support and legal guidance to ensure you can focus on what really matters to you, growing your portfolio. If you’d like to work for South Africa’s top producing Life team, get hold of Sean on firstname.lastname@example.org and ask how we can help you grow.