Considering a Customer Christmas Gift?
As the festive period approaches us, many business owners are busy considering how they can show their loyalty to their key clients. Trying to think of something that is both unique and useful is often quite a challenge especially if you have a wide range of clients. Sometimes one size does not fit all and if you only have a handful of clients to buy for then the personal touch is often a perfect choice.
The one thing that you do want to do though is to ensure that you use this opportunity to promote your brand name. In addition to showing your appreciation you are also hoping that their loyalty will continue therefore you should use this opportunity to put your company at the forefront of their mind.
Consider basing the gift around what hobbies or interests they have, don’t be giving chocolates to someone you know is on a diet or a flying lesson to someone scared of heights. By demonstrating that you know them will go a long way in cementing that working relationship. In fact one of best Christmas gifts that I have ever received was a personalised goodie box filled with a variety of items that covered every aspect of my life. From a CD by my favourite artist to the cigar that I mentioned I smoked after a few too many, every item was carefully selected and individually wrapped with a cryptic clue attached. Although it was intended to be humorous it clearly demonstrated that they had listened to me over the time we had worked together which made me feel valued and appreciated, but more importantly less likely to take my business elsewhere.
Of course you don’t have to go to as much trouble, but it is important to consider what they might like, after all their relationship with you makes your company what it is. From executive pen sets, crystal glasses to branded clothing and electronics there are plenty of promotional gifts that can be branded with your logo and contact details whilst being welcomed by your client.
What the tax man says
Often a confusing area of business and especially when understanding what you will or won’t be taxed on. In essence HMRC allows you to give a gift up to £50 per client in each tax year, however there is of course some small print that you need to be mindful of;
· It must be business related; it cannot be alcoholic, food, tobacco or vouchers that can be exchanged for those things.
· The gift must also carry a clear advertisement for your business; otherwise it would be classed as entertainment expenses.
· The £50 budget includes the gift-wrapping so go easy on the wrapping paper. If you do go over the limit the gift will be disallowed and liable for tax.
As long as you stay within the guidelines, consider thinking outside of the box this year and giving your clients something that they will still be talking about well into the New Year.
Posted by Mathew Smart on 07-Nov-2016
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