Did you know, sending thoughtful, well-timed physical gifts can yield real results, let’s delve into the science behind gifting.

What is it about gifting that works so well in creating stronger relationships? In this article we take a step back to answer a fundamental question – how does sending gifts make you feel? Keep reading to find out about the psychology of gifting and how it can help you drive incredible business results.

Why do we give gifts?

When you think of giving or receiving gifts, occasions like birthdays, holidays, or anniversaries might spring to mind. And rightly so, they’re prime opportunities to show loved ones how much they’re appreciated. In fact, 77% of people believe that a gift is an expression of how special someone is. According to one study, there are social, emotional, and even health benefits to giving gifts. Gifting triggers your body to release serotonin and dopamine which lowers anxiety, stress, and blood pressure. From a social point of view, there are even more reasons for gift giving:

· Building trust

· Forging relationships

· Building meaningful connections

· Enhancing reputation

· Evoking gratitude

The history of gift giving

Gift-giving is such an important aspect of how we form relationships and attachments, it’s even one of the five love languages. But there are historical roots in exchanging gifts, too.

Astonishingly, there’s evidence that cavemen were giving each other gifts and symbolic objects like jewellery or ornaments between 35,000 and 10,000 years ago. The ancient Egyptians gave gifts as offerings to their gods, and as for the humble birthday cake, we have the ancient Greeks to thank. They invented the tradition of giving moon-shaped birthday cakes lit with candles on the anniversary of someone’s birth, which acted as a tribute to Artemis, goddess of the moon.

Gifting is a selfless act which makes most feel happy, and it’s a tradition passed down from our ancestors – so why wouldn’t businesses want to embrace it?

What are the benefits of gift giving for businesses? Yes, gifting might be good for you. But, the simple fact that everyone loves receiving gifts probably isn’t enough to persuade key decision makers to part with their cash and start wrapping. But the cold hard numbers might – over 49% of consumers have made a purchase, payment or donation in the past year as a result of receiving a gift.

Still not convinced? Luckily, the benefits of businesses using gifting are broad reaching and don’t stop there:

1. Gifting helps sales teams to prospect more effectively

Sending personalized gifts to prospects can lead to a 19% increase in close rate, as well as generate up to 447% more opportunities. Gifting can also help sales teams to break into key accounts. Using eGifts like coffee and lunch vouchers can increase the number of meetings that are booked, as well as increase response rates for prospects that have gone cold by 212%. Pretty impressive stuff.

2. Gifting helps marketing teams drive real results Whether it’s incentivizing prospects to book a meeting with a free coffee voucher or sending free lunch vouchers to prospects to enjoy during a demo or as a follow-up after a demo meeting, tracking redemption rates of gifts can help marketing see the fruits of their labour and turn prospects into advocates.

In the business world, gift-giving can be a really powerful tool! By understanding the psychology of gifting, companies can leverage gifts to boost cooperation, enhance the customer journey, strengthen relationships with employees, and ultimately, achieve stronger business outcomes (cha-chiiing!)

All that is to say, gifts have proven their significance in almost all facets of our lives: culturally, socially, professionally, emotionally… after all, gift-giving is a universal experience.