GIFTING? - Get your head around this and remember COMPENDIUM
Thursday, November 24, 2016, 05:43 AM
Posted by Administrator
Too-Generic Presents--Even though they are given often, mugs are never good presents, except for people you barely know. The same goes for $10 worth of lottery tickets. In other words, stay away from gifts that say nothing except "I have no clue... so here."
The point of gift-giving is to show that you care, so if it's obvious that you haven't put any thought into the gift at all, there's no point in giving it.
According to the traditional sovereign view, gift-giving is likely to generate less satisfaction for recipients than their own purchases. But according to the idiot view, who knows? Maybe givers can choose items that will make recipients happier than their own choices would have.
The downside to gift certificates is that if you are actually close to the recipient, they might feel hurt that you didn't buy them a more personalized gift.
Do You Really Think You Are in the Gift Business?
Your business' future will be determined by how you answer that question. If you think your business is about designing, creating, selling and marketing giftware products and your favorite business motto is "product is king," then your business is doomed to failure because it is based on an obsolete business model and misplaced priorities.
"Gift" It's No Longer a Noun, It's a Verb - "Gifting" But if you see your business delivering a wonderfully unique, emotional gift-giving ("gifting") experience to the recipient (the consumer), then you're on track to succeed in the 21st century. You've discovered "product is king" is a lie and what is really important is meeting the consumers' need and desire.
Today our society is incredibly affluent with most consumers having all the material goods they could possibly need. As a result, when shoppers go to the store, they rarely are driven by a need to buy anything, rather their purchases are based upon a desire to achieve an experience or a feeling. Your gift business needs to recognize this new consumer paradigm and get on the experiential marketing bandwagon.
Choose wisely and we are here to help.