Corporate Hospitality: Small Investment, Huge Dividends
Is corporate hospitality important?
Corporate hospitality is an ever increasingly utilised business tool and in the UK, it has transformed the way that company representatives interact with clients and acquaintances to forge strong relationships that have a positive impact on trading and profits.
Today, the UK corporate hospitality market is worth approximately £1.2 billion. The 10 leading events firms in the UK have a turnover of more than £3.5 billion which is from UK and international business. A third of business is derived from corporate hospitality.
VIP sports packages, music, theatre and bespoke events with luxuries and opportunities built in are perceived as vital marketing tools in today’s world. Neglecting corporate hospitality could place your business at a disadvantage.
What are the benefits of corporate hospitality?
Take last Christmas as an example. Was your firm one of the thousands that sent out the same corporate card to every client on your database whether they’d spend £100 or £100000 with you?
Wouldn’t it be in your firm’s and the big client’s interests to go that extra step and show them that they are worth every penny to you?
Choose an event or activity that you know the client will relish. This will illustrate that you appreciate them as a person not just as a signature on a lucrative contract, and that their business is valued enough for you to reward them spectacularly.
They don’t get a standard card, they receive tickets to a rugby six nations match at Twickenham, a day at Aintree, driving at Goodwood or a prestigious centre court debenture ticket for the Wimbledon final.
Events management London firms like DTB Sports and Events have packages for all budgets and tastes in sports and their theatre experiences, concerts and one off events opportunities will charm any person that you hope to impress.
Can I talk about business at a social event?
You can discuss business with them on any of the corporate hospitality occasions and the primary benefit is that you and your guest have escaped from the office, you’re free from office paraphernalia and phones that won’t stop ringing. That always feels marvellous.
After a few glasses of champagne and an informal chat in a conducive environment with a VIP sports package, many deals have been agreed at corporate hospitality events.
Everyone is happy.
The expenditure will eat in to my profits
Your aim is to strengthen business relationships and therefore generate more orders from the client. You must invest a little to gain a lot.
They spent £100000 and this resulted in a welcome boost to your profits. By seeking out a corporate hospitality opportunity at say, £500, that’s 0.005% of £100000 so the investment is miniscule, the results can be massive.
Even if the client spent £20000, the corporate hospitality through a specialist events management London firm would equate to 0.025% of the business they brought to you.
Contact an events management London firm today to see how they can help you deliver corporate hospitality and achieve your goals.