Corporate hospitality: More than just a hefty bar bill

Once upon a time the idea of corporate hospitality was very different to what it was today. While we don’t like to generalize, a long trip to the bar was often in order – with clients benefiting from scores of drinks as their company attempted to woo them.
Nowadays, things have changed. Not only has corporate culture shifted somewhat, but so have some of the types of events that are available. For example, decades ago it just wasn’t possible to take advantage of the likes of Team Tactics corporate hospitality events – something which provides proper activities for all involved.
This shift in culture has resulted in a lot more investment in corporate hospitality, as we investigate some of the main reasons why companies are opting for this route.

The elusive first impression

Nothing beats a positive first impression – and corporate hospitality events provide the perfect opportunity to secure this.
Little needs to be said about this benefit, although we will hone in on one example. If a prospective client is tied between two companies; one who has put on a lavish corporate day, and the other who has pitched over the board room table – which has made the most unique impression? It won’t count for everything, but it will make no-end of difference.

The new product launch

Ask a company to attend a product launch and you’ll receive mixed responses. Ask them to participate in a corporate event, that subtly mentions a new product, and it’s a completely different story.
While you shouldn’t look to throw a new product in the face of your clients during the chosen activity, simply mentioning it in conversation is an easy way to make them aware of it while they are engaged.

It’s not just about the client

This is perhaps something that is rarely mentioned, yet the importance of this benefit should not be understated.
While corporate events are mainly designed for the client, and attempting to secure and strengthen any business ties that exist, they can also prove crucial for key members of staff. Suffice to say, employees love attending these events too and while the emphasis isn’t going to be on their enjoyment, it’s still better than a day in the office.
It’s almost a reward so to speak, and any company who participates in such events is likely to be a favorite amongst employees, and prospective employees.

A simple thank you

In the midst of all of the sales techniques we may have mooted through this guide, some companies will arrange a hospitality day just to say thank you to a loyal client. If you’ve been working with a particular client for the past decade, paying for a single day certainly isn’t out of the equation.
If we put our sales hat back on, it’s also a subtle way to remind clients that you are the right company to work with. If you can show that you are happy to make goodwill gestures – it can make a difference and ensure that happy relationship continues.