The Importance of Perceived Value
The thoughtfulness of gift giving goes far beyond the act itself. When gifting, the old adage “it’s the thought that counts”, holds true but depending on the receiver’s perception, their “thoughts” about the gift could be less than positive. Even with the best intentions, giving a gift without thinking it through could create a disastrous experience.
While money cannot buy happiness, some recipients do look at the price of their gift as an indicator of how much you value or want to impress them. Apply this concept to a loyalty gift program and you see why a high (perceived) value gift increases customer loyalty, because those customers feel appreciated and rewarded. So how can you make sure not to break the bank, while giving your most worthy customers the best gift experience? Well, by making your “thoughts” count you can incorporate four simple elements to guarantee an exceptional gifting experience: Thoughtfulness, Recognizability, Quality, and Pizzazz.
Thoughtfulness – A consideration for your recipient’s needs is the foundation for selecting the perfect gift. Know your receiver and show you are aware of their interests and desires. By choosing a gift that appeals to their needs, aspirations, and enhances their lives you show how much you truly understand them.
Recognizability – Due to our emotional nature, we as humans naturally align ourselves with names and brands that match and express our personal values. When gifted a branded, high (perceived) value product, the receiver experiences the joy, prestige, and status of owning the item, reflecting positively on both the giver and gifting experience.
Quality – If the foundation of a great gift experience is brand recognition, then great product quality is the icing on the cake. Through time and use, we form our opinions of a product’s level of quality. When receiving a quality, branded product, the high level of excellence is already established based on previous favorable awareness of and experience with the brand.
Pizzazz – Through extensive marketing campaigns and packaging the greatest brands can generate strong desire and emotion for their product – even with just a single color. While the gift speaks to the heart and mind, the visual advertising elevates the senses. We all know it is “easier to show someone than tell them”, so when you can tempt your customer with attractive videos and product images and then present their gift to them in colorful, easy to carry, retail packaging – well there is nothing left to say.
So, why would you gamble on offering your most loyal guest a low quality, less than high-perceived value gift? Bargain chasing, leftover, low-quality, and closeout items might drive an initial guest response, but will it support your long-term success? Once they get their lackluster gift home and feel less than impressed with your appreciation for them, what is their final “thought that counts” when they think of you?
Give them a gift with a high-perceived value to show how valued they are. Your thoughtful, attractive, high quality gift will be a positive reminder of how you feel about them every time they use or see it.
Gander Group gifts leave a lasting impression, so give us a gander and give your guest a great gift experience every time.
Executive Vice President of Business Development