Corporate hospitality is one of the most effective strategies for businesses to adopt; as the pinnacle of networking with clients, colleagues and other stakeholders, benefits such as building and maintaining important relationships, establishing new contacts, and strengthening your brand’s reputation naturally come with it.
One great advantage of corporate hospitality is that it can be used, and enjoyed, by any business, regardless of its size.
Yes, corporate hospitality is an initiative largely used by bigger businesses, who are more likely to have bigger budgets to expense such initiatives. But the ROI is significant for all businesses; in this blog, we delve deep into the benefits of corporate hospitality, for the small to medium-sized firms.
Connections and Networking from the Inside
One of the biggest attractions for corporate hospitality is the networking opportunities it presents. Whether you’re spending an evening under the lights at The Kia Oval watching T20 cricket, ora day watching first-class tennis at The Championships, Wimbledon, there’s ample opportunity to strike up a conversation and secure those connections with others. For smaller businesses, this is a great chance to strengthen internal relationships; taking employees to events is a great way to show gratitude and value for individuals. Not only does this lead to further benefits such as a boost inmorale, it puts you in good stead for those considering working for you. Who wouldn’t want to work for a company that treats their employees to unique experiences?
Value and Reputation
Secondly, treating your clientele to a corporate hospitality experience proves just how much value they are worth to your business. This goes for businesses of all sizes, but for those on the smaller side, it’s an absolute must. For one, your clients are more likely to stay with you for a great length of time if you prove their value from early on. However, it also aids in strengthening that reputation, which is perhaps an important consideration if you’re trying to grow your business. Your clients are far more likely to recommend you to others if you show their true worth from the get-go.
Establish New Connections
So we’ve already touched on the value of corporate hospitality experiences in regards to networking, and we talk about it a little more here. But for the smaller businesses, it’s an especially important factor. Generally, you are likely to have fewer employees or clients to corporate hospitality than the big giants. But this can really work in your favour, if you cease all the networking opportunities; you’ll have more time to network with other guests, some who may even work in the same or similar fields. It can open a lot of doors on both a personal and professional level for you, and paves the way for opportunity, especially when opting for the experiences that edge on the slightly more
informal side.
We understand that budget may be a little more restrictive for the smaller firms out there; with Keith Prowse, budget will not stand in your way! As the premium experience specialists, we have something to suit a wide range of tastes, needs and price points. So why not consider official hospitality? Have a browse of our range of experiences, available on our website.
