There is some debate around whether or not spending money on corporate hospitality is a good investment. It’s crucial to find the right event or hospitality package for the right client, but when you get it right, the positive impact on your business could be huge. Whether it’s a day out at a local horse racing meet or you’re heading out to Japan on one of the Rugby World Cup 2019 packages, corporate hospitality can benefit businesses of any size. Here are just 5 of the reasons why you should be investing in corporate hospitality this year and what your business can expect in return.
- Strengthen Relationships with Clients
Oddly enough, the office is not always the best place to be discussing business. It can be stifling to stare at the same walls and faces day after day and your clients are likely to feel the same. Taking them out of this formal environment into a more relaxed setting will not only show them that they are valued as a client, but also give you the opportunity to add a more personal touch to your business discussions.
By building stronger personal relationships with your clients you are more likely to enjoy a stronger business relationship. If you’ve shown them generosity they may be more likely to do the same in return in the future and you may just push yourself a few places above your competitors in terms of their opinion of you as a partner.
- Establish New Client Relationships
If you have a prospective client who is yet to come on board officially, a corporate hospitality event could be an opportunity for you to put your best foot forward. Invite them along so they can get to know you and the key people in your team so they can imagine what working with you would be like. Assuming that you’ve also invited existing clients who are happy with your service, it can’t hurt to have them meet and share notes.
You won’t be the only corporate hospitality party at the event which means that you’ll be surrounded by other professionals and businesses who may be valuable contacts in the future. Connecting with industry influencers in this face-to-face way is often much more effective than email or on the phone, so take the opportunity to mingle.
- Reward Customer Loyalty
If you have one or a few clients who have been with you for many years you may want to splash out a little more by way of thanking them for their custom. A contract which has sustained your business and enabled it to grow year on year is certainly worth something special such as the Rugby World Cup 2019 packages currently being sold. Find out more about RWC 2019 Packages for corporate hospitality.
- Product Launch Opportunities
If your business is launching a new product, you could choose to combine the hospitality event with a product launch party. Create an event which is generally intended to thank your clients or partners but use a portion of the evening to promote the product in style. You’ll have thanked your clients, promoted your product and generated interest in one event.