Deciding which clients you should be shopping for this holiday season, and what to wrap up, can be stressful. But it doesn’t have to be.
Before you hit the stores, split your client base into three segments, says Sara Gilbert, founder of Strategist Business Development in Montreal, and set a budget for each group. Personalized gifts should be prepared for the top segment of clients, while something more generic can be selected for the remaining.
“Whether or not you send a client a gift is in proportion to where the client is asset-wise,” says Gilbert. “You don’t want to be shopping at Tiffany’s for everyone.”
With a budget in place, digging into clients’ individual interests will help determine what type of gift to send. Although movie vouchers and gift certificates to trendy restaurants are popular go-to items, selecting a more personalized gift can make a lasting impression.
For the tech savvy client on your list, there are several items that could make useful gifts without breaking the bank. Accessories such as tablet travel keyboards, backup batteries, plug-in chargers and Bluetooth speakers can all can be found for under $100, says Adam Kafka, owner of Universal Links Inc. in Toronto, a firm that specializes in corporate gifting.
“Many clients are constantly traveling for work, so if you are able to provide a gift that allows them to do so with ease, they are going to remember you for that one small item,” says Kafka.
Edible gifts can be memorable if packaged in a unique way, says Kafka. For instance, he suggests customizing a gift basket to a client’s personal tastes. A ceramic teapot with a selection of loose leaf tea, or a high-end mixing bowl wrapped up with baking ingredients for culinary lovers can be much more effective than a generic holiday basket.
With the first snow on the ground and Christmas carols on the radio, it’s easy to forget that a Christmas-themed card or gift may not be suitable for every client, says Kafka. He suggests keeping track of which holidays your clients celebrate, so you can send out appropriate gifts for holidays such as Hanukkah, Chinese New Year and Diwali.
“Sending out personalized ornaments at Christmas can have a meaningful impact – but only to those clients who celebrate the holiday,” says Kafka.
If you feel that your gift may get lost in the shuffle, consider gifting at off-peak times, says Gilbert.
“You don’t have to wait until the holiday to send out a token of appreciation,” says Gilbert. “It is really about that unscheduled attention to detail that can make a difference.”
Many advisors send gifts at Thanksgiving or the summer holidays, rather than the holiday season, says Kafka. Wedding anniversaries, birthdays or the graduation of a client’s child can also provide great opportunities to show clients you are thinking about them.
“Recognizing the anniversary date of when a client joined the firm is a great time to send a more significant gift,” says Gilbert. “You can send a bottle of wine during the holidays but think of a more personalized gift for a special occasion.”
This is the third article in a three-part series on client appreciation.