Published on 18th February, 2020
Assigning money to corporate hospitality in your marketing budget is even more important as competition intensifies. Your potential customers have a lot of choice about who they do business with, so setting yourself out from others in your market is key. Demonstrating that your relationship is important – and that you’re willing to invest in it – will help grow it for the future.
First Things First
If you only get one chance to make a good first impression, do it well. You want to impress without being too ‘showy’ so choose a venue and an event that matches your company values. Talk to the team there beforehand to help them understand your motivation for choosing corporate hospitality and they can help make sure every detail is perfect.
After that, it’s over to you to build the relationships. Being out of the office in a more relaxed environment plays a big part. It’s ‘neutral’ territory and the regular pressures of the work space are removed. Corporate hospitality offers you a unique chance to really get to know an individual and chat about their personal lives in a way that wouldn’t always be appropriate in another environment. Find out what makes them tick and you increase your chance of winning more business in the future.
Of course, it’s not always about the potential customers. In financial terms, it’s much more expensive to win a new customer than it is to keep an existing one, so make sure you treat your loyal customers well. Maintaining and nurturing relationships also takes time but is worth the effort. Choose the right event for your corporate hospitality as time and place play a huge part in the success. Sporting events aren’t for everyone but an occasion with a broad appeal and a ‘something for everyone’ offer will make sure your guests not only accept your invitation but also enjoy their day.
Of course, entertaining existing and potential customers is important, but just as important, and some might say more so, is rewarding your staff. They are the key to your business and so rewarding loyalty and performance from them is crucial. Corporate hospitality and a memorable day out is a wonderful ‘thank you’ for the part your team plays.
Big events offering corporate hospitality often offer several opportunities for new business. There are the guests you have invited yourself, though there will be other businesses entertaining customers at the event too. This provides you with a unique opportunity to network with likeminded businesses – especially where facilities are shared – and you could come away from the event with much more than you planned for in terms of business and leads.
Whatever your motivation for offering corporate hospitality, the Royal Bath & West Show can offer a tailored solution. We know how important it is to get things off to a good start and that’s why we work so hard on getting even the little things right. Our packages cover delicious food and drink, space to talk and build relationships, and of course the all-important entertainment at our flagship event.
Whether you’re rewarding staff or nurturing business relationships, a memorable day at one of Somerset’s most iconic days out could be a sound investment. Get in touch today to find out more. Call 01749 812211 or email firstname.lastname@example.org.