Corporate bonding with clients is proven to cement relationships, gain extra sales and broaden intimate knowledge of clients’ requirements. Taking the relationship outside the work place into a convivial corporate hospitality situation can pay dividends: but there are pitfalls too.
Finding your clients’ interests is relatively easy: people like to talk about their passions, so you’ll be able to identify if there is an event that they would value. The right choice starts off the invisible payback, particularly if tickets are in short supply, or the events allow exclusive access, such as the F1 Paddock Club.
Focus the Objectives
Are you aiming to offer a well-deserved thank you to a long-standing client or trying to court potential new business? Do you need some time out to discuss business? If so, consider a longer all-day event that has natural intervals for business talk, such as a day at the races.
Your objectives have a major impact on your budget, so weigh up cost against potential gain. The more important the deal, the longer and higher-quality event you should be aiming for. Consider the various options, number of parties targeted and business objectives to come up with a budget. If you have to, reduce the numbers but increase the quality of the event. Don’t forget to report the relevant expenses information to HMRC.
Consider the personalities, interests and potential areas of friction. Two competitive clients fuelled by unwise consumption could easily bring down an otherwise charming and successful get together. Go through the list of people carefully including your own team.
Inclusive Packages – Any Extras?
A misunderstanding over the inclusion of drinks could lead to a disastrous budget over-run so make sure you are very clear on what is not included. Are you providing transport, accommodation, and is the minibar policy clear?
Your Corporate Hospitality Partner
Check the references and financial standing of your corporate hospitality partner. Expertise in the area that you are considering is a bonus, such as that provided by https://edgeglobalevents.com/, and it’s also important to investigate their follow-up to events.
Check and Check Again
Corporate hospitality is hard work, but will bring huge benefits when you get it right; a good event will be talked about for years to come. If in doubt, go for quality, fewer people and triple-check everything!