What does it take for a vendor to click in the gifting industry?

One thing that will differentiate a sub-standard vendor from a quality one is the value addition the latter can bring to clients. The process is not just restricted to manufacturing, purchasing, or disturbing the gift. A winning and long-lasting association with the clients is possible only by striking a rapport and understanding their psyche. It requires a great deal of insight and sensitivity on part of the vendors.

An understanding of factors such as budget constraints, timeliness of a gifting plan, correct choice of occasion, relevant theme for gifting is essential. The success of a corporate gifting business is not merely about the “art of selling’. It’s more to do with discovering the ‘joy of gifting’ them. Packaging ideas also matter a great deal (not to forget ‘out of the box’ gifting products!)

A unique selling proposition will help to transform the gift into a motif of relationship-building. This again is never an easy task. First study what a bunch of business players around you are doing and think how you could do it better. Before you push forward with your gifting business plan, be clear about its focus. You then can sell the idea itself.

The logistical issues will then come into play as you will need to explore things such as distribution & partnerships, and work out establishing relationships with a host of corporate gift representatives to market and sell your product portfolio to their corporate clients.

It may not be always easy to approach end-users directly when you are likely to compete with an entity that has almost everything else on its side, including a strong sales relationship with your potential customer-base. Before you make a move, get some sense of the market dynamics and what exactly you are up against! This is critical to make foray into the domain of corporate gifting business successful.