Is corporate hospitality a good investment in your business, or a frivolous waste of money? There is a lot of debate around the subject, but one of the key points which comes up time and time again is that you need to match the right kind of corporate hospitality to the right client. When researched and planned correctly, corporate hospitality can bring big benefits to businesses of any size and in any industry. This guide sets out some of the key reasons why you should be investing in corporate hospitality over the next few years as well as what your business can expect in return.
Strengthen Your Client Relationships
It may seem an odd statement, but the office is not always the best place to conduct business with clients. If you are always in the office and you always have your meetings in the same formal setting, you, your team and your clients are likely to feel stifled. By arranging a meeting outside of the office in a quiet café or restaurant will give you all a fresh point of view and will show the client that you value them while lending a more personal angle to your discussions.
Establishing stronger relationships with your clients on a personal level will lead to a stronger professional relationship. By showing them that you value their time and being generous, they may be more likely to return the gesture in the future and look on your company more favourably when compared to your competitors.
Build New Client Relationships
When you have a prospective client, i.e. a client who is still considering whether or not to use your services or partner with you, inviting them to a corporate hospitality event is a great way to show yourself in a positive light. Host an event for existing and potential clients so that they can become better acquainted with your team. This will help them to imagine what working with you would be like and, if your existing clients are advocates for you, hearing them sing your praises can only improve your chances of success.
Show Gratitude for Customer Loyalty
Booking a corporate hospitality event is a great way to thank your loyal and long-standing clients and customers for their business. If you have a particular client or several which have been major contributors to your success, this is worth celebrating in style. Why not splash out on a luxury Wimbledon hospitality package for 2020 including accommodation at a beautiful country house hotel, debenture seats, and private banqueting suits.
Use Corporate Hospitality as a Networking Opportunity
If you book a table at a general corporate hospitality event you are likely to be one of several businesses in attendance. This makes the event not just a celebration and a chance to deepen client relationships, but also to network with other professionals and industry influencers who could be useful contacts. Face-to-face networking and introductions are usually much more effective than phone calls and emails.
Take the Opportunity to Launch a Product
Why not combine a corporate hospitality event with the launch of a new product? The event should be primarily focused on thanking your clients, but there’s no reason why you can’t take advantage of the event to promote a new product or service which they may be interested in. A product launch event is the perfect way to thank clients and generate interest in your company all at once.