Corporate hospitality has its fans and its critics. Many believe it is a waste of money while others are reaping the rewards of an attitude that you have to spend money to make money. There is no doubt in our mind that corporate hospitality works; we have seen it countless times with our own clients. With years of experience in this business, we can tell you first-hand that it can work wonders in terms of securing new business and contacts.
Corporate hospitality has become such a huge part of business today that potential corporate clients almost expect to be wined and dined before giving their custom to a new company; by foregoing this activity your business may be losing out.
Tips for Successful Corporate Hospitality
It’s clear that corporate hospitality can be a powerful tool, but it must be used correctly for your business to see the benefits. The good news is that DTB can help you to make the most of corporate hospitality and below are just a few of the tips we would recommend.
- Don’t go overboard on your event –If you have never hosted a hospitality event before, you may be fretting about the cost of such an occasion. Rather than focusing on the cost, we would recommend that you concentrate on the potential return. What you spend should be relative to what you could potentially make. Nevertheless, you do not need to go over the top and spend thousands per head. You can impress by spending up to £600 pounds per head, but you can equally impress by spending just £100 per head.
- Think about the guests – If you want your event to be a success, then think about what the client might like rather than what you would like. For example, inviting a rugby fan to a football match might not be the best way to impress.
- Think outside the box – Many company bosses assume that sporting events are the best way to impress clients but at DTB we can access a whole host of events that are sure to impress your guests. Not only do we offer readymade packages to sporting events but we can also tailor packages to include a night at the opera or a West End show with dinner and complimentary drinks included.
If you want to make the most of corporate hospitality, contact a DTB advisor today.
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