9 Business Gift Ideas For Clients and Employees
Product extension is a keen marketing strategy for any business looking to extend its reach. When achieved successfully, a brand extension strategy can see brands launching themselves into new and alternative markets, improving their brand image, and gaining a new target market; but what is brand extension, and how can it help you?
What is Brand Extension?
Brand extension is when an existing brand works to launch a new product that will be under the same brand name but different from the original offering of the brand. Essentially, it is about building on the established status of the brand.
Forming relationships with your clients and employees is one of the most important aspects of creating a successful company. Businesses may struggle to achieve growth if they have issues in either area, but building meaningful and respectful partnerships doesn't have to be challenging either.
Clients are the ones spending money with you, and employees are the ones making money for you, so each should be appreciated to reap further rewards. Showing gratitude always showcases your morals and values as a company to the outside world and helps to foster a positive reputation in all circles.
Finding the perfect gift can be a challenge with the number of options available on the market. However, if you're stuck for business gift ideas and want to discover unique corporate gifts that go beyond the traditional items, check out these top unique corporate gift ideas that will have all the right impressions.
1. Donate to charity
Sometimes a physical gift may not hit the right mark. However, a charitable donation is a great alternative. Your clients may already back specific charities, and donating to these causes will support their efforts. The same can be said for employees. You could make the option available for donating an amount to the charity of their choice or combine donations for a company-wide charity on their behalf.
2. Office gadgets
A fantastic business gift idea for both employees and clients is things they can use in the office environment. Gift ideas include Bluetooth speakers, portable phone chargers, and power banks. High-quality business gift ideas make a great impression and provide functional items that will be used time and time again, thus, jogging the memory of who gifted it in the first place.
3. Gift boxes
Whether you're choosing client gifts or gifts for employees, you can rarely go wrong with a gift basket. This business gift idea is ideal for adding a personalized touch and can include a host of things, from food, drinks, and treats to other products such as skincare, pampering gift sets, and gifts for the office dog. To make this business gift idea even more personal, hand-deliver yourself or include a handwritten note showcasing why you think they're fantastic!
4. Promotional products
Promotional business gift ideas typically work well for client gifting. However, you don't have to stick to traditional corporate gift ideas, as this can appear to be plugging your company rather than giving something as a gesture of appreciation. Find the balance between the two, and this will make a thoughtful yet impactful impression on your client. Why not hire a branding agency to help you come up with new concepts and promotional gift ideas!
5. Custom stationery
All businesses use company stationery, but why not give something a little different from the workplace norm with personalized stationery gifts. Stationery makes the perfect business gift idea, as it's functional, and most people secretly love having unique notebooks and diaries to show off in meetings. Personalization can take the form of adding names or initials. Plus, you can incorporate your brand name in the small print to give it a little promotional twist.
6. Gift cards
Gift cards are an ideal gift for employees and can be tailored to the stores that people love to visit. These options are suitable for birthdays or when employees hit targets within the business. Or they can be handed out as a show of appreciation randomly. An excellent idea for companies is to have a business-wide perk that offers employees the option of a drink on you at a local coffee shop. It's easy to set up, and you can set a tab. That way, employees can enjoy a drink “on the house” every now and then.
7. Face masks
Another popular business gift idea is face masks. While this isn't the typical gift, it can help to keep your workforce safe in the current situation. Caring for employee's health and wellbeing will show your values as an employer. Gifting reusable face masks will also help them save money rather than buying disposable alternatives.
8. Days out and event tickets
Rather than arranging a company-wide day out for team bonding (these are great too in specific situations), why not gift activity days or event tickets to your employees. It encourages staff to enjoy time outside of work with family and friends, which improves wellbeing and health. Plus, you could also arrange this type of gift for clients. Business gift ideas could include getting a box at the local football stadium or inviting your clients to a corporate day out.
9. Smartphone accessories
Much like company stationery, most people also have a phone for work and personal use. A great business gift idea is giving phone accessories that they can use with their model. Examples include customized grips for phone cases or promotional lanyards. If you want to delve deeper, personalized phone cases are also a great idea. Still, you'll need to know personal preferences before ordering.
When you select the best business gift ideas for either clients or employees, there are a few things to consider before splashing the cash. By sticking to a few basic rules, you will ensure gifting is affordable for your company and thoughtful at the same time.
Take a look at some of the best ways to buy great gifts:
- Personalized gifts: Buying gifts in bulk does save money, but this doesn't showcase any forward-thinking and can appear to be a tick box exercise when gifting clients and employees.
- Be budget conscious: You may want to shower your clients and employees with expensive gifts but ask the question 'what does the budget allow?' Gift value should also be proportionate in terms of client spend. Unless there is potential to upscale a smaller client, try to avoid spending the big bucks to try and impress.
- Gift outside of holidays: Everyone sends holiday gifts, but that doesn't mean you can't give gifts at other times. By exploring other times to send gifts, you have more opportunities to make the best impression.
Whether you're buying gifts for clients or employees, it can pay to make the gift-giving process as personal as possible. That doesn't mean you have to spend a lot of cash to show your appreciation but getting the balance right is vital to ensure it is received in the best way.
There are plenty of corporate gifts and promotional merchandise products available for all types of gifting. Selecting the best ones for the occasion will help build strong and loyal relationships with people that can help your company grow.
What is Brand Extension vs. Line Extension?
In some cases, this extension can remain true to the original product and simply offers a variation. This is a line extension. A great example of this is the established brand, Coca-Cola. This brand is best known for its original Coke taste, but using a brand extension, Coca-Cola has launched a whole new line of various Coke products, such as Coke Zero and Cherry Coke flavor.
When exploring brand extension, this can also mean completely unrelated product lines compared to the original product. The established brand Casper, known for its mattress line, underwent a brand extension by launching a piece of home-tech with its Glow Light, which can aid sleep. This brand extension sticks to Casper’s main brand identity of encouraging a better and healthier night’s sleep, but it also unleashes a brand-new product category.
As Casper has used its original authority status to then jump into the trend of home tech, this could be considered one of the more successful brand extensions.
What are the Benefits of Brand Extension?
The next consideration to make is whether a brand extension can actually be beneficial. As with any business decision, there is always a risk factor, but there are certainly many benefits attached to a brand extension, including the following:
- Improve brand equity: A brand can be worth a lot more with an increased number of products and product lines.
- Improve core brand status: The more successful product lines can improve the marketing and status of a core brand name. The brand will be known for a greater number of successful products.
- New products can more easily be accepted: When using an established parent brand, you’re launching a new product based on the existing status and customer base of the original brand, rather than trying to launch an entirely new product out of nowhere.
- Potential for new customers and a wider market: For struggling businesses considering a brand extension, it could mean reviving a fading brand and reasserting itself back in the market, and, therefore, attracting a new range of customers.
Of course, a brand extension is never guaranteed to be a success. What’s interesting about using Coca-Cola as an example is that it’s debatable whether this is a successful line extension or not. Is Cherry Coke or Coke Zero going to be as popular as the original Coke taste?
It could be argued that Coca-Cola’s original taste remains the most popular option compared to the flavors that followed. Original Coke is also used as a common mixer for alcoholic drinks, too.
In contrast, Coca-Cola’s line extension provides plenty more options that consumers can enjoy, so many do question whether these alternatives are equally as popular as the original product. Nevertheless, that doesn’t mean that Coca-Cola’s line extension hasn’t worked to generate enjoyable, new products that attract a new segment of consumers.
5 Signs Brand Extension Could Work for You
If you are considering whether a brand extension is right for you, here are five signs that you can look out for:
- You’ve already built a successful brand with a following and can easily build on that existing identity.
- You have some great ideas for new product lines that market research tells you could work, and brand managers are confident about it.
- You’re looking to grow your business.
- You’re looking to reduce marketing costs for a new product by using your existing reputation.
- You’re looking to increase brand awareness.
3 Tips for Successful Brand Extension
If you have concluded that you are ready for a brand extension, you will want to bear in mind the following three tips:.
1. Stick to Your Original Branding
In order to still be recognized with any new brand or line extension, using your existing brand identity is key. This means sticking to the same logo, values, and visuals. If you need to promote a new product with merchandise, you can consult with branding agency services to have the design still fit with your brand identity.
2. Stay Logical
Brand extensions need to be a logical and strategic move. What is a brand extension if it’s not a product which is needed or wanted? Brand extensions shouldn’t be made on a whim or simply with the desire to generate greater status for original brands. It should be a business decision driven by market demand, trends, and consumer data.
3. Create a Strategy
Every business move requires a strategy, and that’s certainly applicable for brand extensions, too. Your strategy should consider risks, future goals, and any new target market. This can be tricky to navigate yourself, so you may also want to liaise with a branding agency to market your new product(s)/service(s).
Take Away
Exploring the idea of brand extension means many new, exciting opportunities for established brands. It can be a positive business decision if you’re looking to jump on market trends and consider what the current consumer is looking for.
Contact our team today for any branding requirements, whether that’s existing products or an extended product line.