It’s April, which means budgets have been signed off for the new financial year and many clients are looking to get their 2017/18 hospitality & events programme in place. But why should corporates look into a hospitality programme rather than booking a one-off experience, we go through the reasons below.
We all know that that hospitality is great for making a great first impression with a client, nurturing and maintaining relationships, differentiating yourselves from competitors, networking and entertaining key clients or staff, however, why is important to plan in advance to know what you are doing and when.
1. Hospitality & events are fast being seen as a valued part of the marketing mix with research backing up these claims. A study by SponsorMap in 2009 showed that the Gratitude Index Rating for hospitality provided to clients is very high (64-96%) which is a key indicator in the ROI you get from investing in a hospitality programme. This coupled with the fact that 38% of companies believe that corporate hospitality provides a better return on investment than any other area of the marketing mix, according to a survey performed by Marketing Week, shows that getting your hospitality affairs in order is crucial to the success of key relationships.
2. It saves money. Hospitality programmes offer added value to those clients who are booking numerous events in one go. With marketing and entertaining budgets regularly being cut, getting the most for your money is a must! Leaving it until the very last minute can lead to paying higher prices as demand rises, with Wimbledon being a prime example of this given the fluctuation of debenture ticket prices.
3. Planning allows key clients you invite to get it in their diaries early. All too often tables or boxes are half full or empty which is neither good for the venue, event or for the company spending thousands of pounds for the privilege. It also ensures you get the right people to the event. The last thing you want is a last-minute scramble to fill places that, if booked with enough notice, could have been offered to that golden client who now can’t make it now because it’s too late. Ultimately, it gives you piece of mind that your hospitality and entertainment plan is in place for the year which in turn will maximise your return on investment.
4. You get access to the best seats early on and you are more likely with sell out events to get your seats together. Who wants to be sat at the opposite end of the facility to their clients? Worst still being at the back of a gala dinner because you were one of the last to purchase a table.
5. Programmes allow you to add extras to your event. You may decide to brand each of your events or book private spaces that allow for corporate branding. These VIP tables disappear fast though so you do have to book early. You may even be able to secure a celebrity in your table, something that Paragon offer exclusively for our own events.
We hope you agree it is best to book early and combine your spend to ensure you get the most for your money into a programme. Why not enquire not for a bespoke package quote or view a sample of our hospitality packages for 2017 here.