Mirage discusses corporate hospitality techniques

Corporate hospitality, if used correctly, is one of the most successful ways of forming, developing and cementing business relationships, according to Mirage Events.

However, it is often the least planned, thought through and measured communication tool.

In this white paper, Mirage discusses how to make your corporate hospitality budget really work.

Hospitality can range from simple business lunches through to rounds of golf or invitations to sporting or cultural events.

More elaborate entertainment could be at home or abroad, focused around business events such as exhibitions, forums or conferences.

Whether the activity is relatively simple or more complex, the same basic principles should apply.

Remember that your key contacts are invited to a host of events so they can pick and choose their best options.

Their decisions will be affected by a number of factors, ranging from whether they are free on the date to whether the invitation actually appeals.

It is important to think about what is appropriate for your guests, as well as considering their company policies and any industry legislation.

You must also ensure that health and safety, contingency plans and insurance are all covered.

It is necessary to choose activities that strengthen and reflect your brand.

Make your invitations intriguing but clear and send them out well in advance.

Be creative with your hospitality and measure what works and what does not - do not keep making the same mistakes and ensure you build on your successes.

It is also important that you are realistic with your budget and avoid cutting corners.

Do not settle for second or third best; if your first choice does not accept your invitation or keeps sending their next in command, there must be something wrong with your offer.

Many of these principles are based on common sense and do not need further discussion, although it is surprising how often they are ignored.

The result is that hospitality is often planned late, resulting in inferior or very predictable entertainment.

Invites go out late, which reflects badly on your company, and money is wasted on a poor turnout.

It must be considered that a badly planned event can alienate your guests.

So how do you ensure that your events are the ones everyone wants to be invited to? How do you get your target audience to attend? The key is to make your hospitality special - something that stands out from the crowd.

Guests need to feel honoured to be invited and they must see it is an opportunity they cannot and should not pass up.

Your invitation should be perceived as being valuable.

Rather than choosing standard hospitality packages, look at producing a bespoke event.

This way, your clients will know they are getting something different, designed specifically with their tastes in mind, and you will not be vying with your competitors for key clients.

Also, you will not be competing on budget.

For example, if your competitor chooses a more expensive and lavish package at a sporting event, your client may choose to go with them and you will be seen as the poor relation or disappointing second choice.

A bespoke event can also be used to strengthen your brand values.

If, for example, your company positions itself as imaginative, progressive and innovative, your corporate hospitality must reflect this.

If you want your customers to feel valued and nurtured, your event should do the same.

Consider your target audience carefully.

It is difficult to find a package that appeals to everyone, particularly if partners are involved, so why try? With a bespoke event you can be bold and offer something new and exciting that your clients may not have tried before.

Entice them with a unique destination and/or activity.

Tailor the event; a bespoke event offers much more flexibility in terms of dates and timing.

You can avoid busy times, such as year-ends or school holidays, and choose times that suit you and your clients.

You could also tie in the hospitality to an existing event, such as an exhibition, a company conference or a company landmark.

Look at adding value; this could be in the form of offering an opportunity to try something your clients would not normally get the chance to do or go somewhere they would not normally get the opportunity to go.

Alternatively, you might want to incorporate a learning experience that will help them in their job and justify their attendance.

A bespoke event will involve more work than just booking a standard package.

However, this will be time well invested if the event subsequently meets objectives and draws in your key clients.

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