4 Reasons Why Events Are Good For Running A Business
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Loading... - TRISTAN LAHM
- 30 Nov 2020
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There is a litany of reasons why hosting a series of events is crucial for your business. For starters, the main objective of business events is to connect with the current and prospective customers, as well as, build business relationships with them.
Sales executives understand that sharing experiences are a great way to create and establish business connections. Events help to create a forum to cultivate those experiences. Below are four reasons for that hosting business events are good for business:
1. Generating Leads
Hosting an event is a surefire way of landing new prospects.While you’re at it, involve your sales team. There, your sales team can help come up with the most viable prospects in new leads. Moreover, they have a deeper and specific understanding of the potential leads. The sales team will conjure up custom signup questions that will pre-qualify people and companies attending the event. They’ll also help them through the signup process.
After they’ve signed up for the event, you should keep tabs on them to ensure the event stays in the front of their mind. Keeping in touch here does not mean the mere communication of event logistics (for example, the time and venue of the event). It also means impressing upon the prospective attendees the importance of the event and how it will help them overcome their challenges and achieve their goals.
Lastly, what do you think of charging a nominal fee up-front? Event organizers can attest that making an event free (intending to bring everybody on board) can prove counterproductive. On the other hand, charging a nominal fee upfront can ensure those who sign up for the event actually attend. Experience has shown that people tend to despise and undervalue free things.
A small financial commitment, on the other hand, will encourage them to show up for the event. Considering the fact that you can channel the nominal fee to cover some expenses, this has to be one of the most ingenious ways of killing two birds with a single stone.
2. Brand Awareness
Do you want to raise your brand awareness? There is no better way to do that than through hosting an event in that respect. That is the reason why lifestyle and fashion brands love launch parties and relevant events that give them the opportunity to convey the value of their product or brand. Your business, too, can use events to convey a brand message.
There is a host of ways your business can go about this:
- Showcasing your abilities: You can invite prospects to an event where you get to showcase your business’s expertise and creativity, especially if your business is in the creative industry. Use your skills to organize an awesome event that will wow and interest all the visitors that show up for the event.
- Network: Most businesses in the service-related industries thrive on pertinent connections. And, such businesses need to demonstrate to their clients and prospective clients how well-connected they are. Localizing a website or a business overall can be achieved with much success through events. If this is your goal as well, then assemble all the bigwigs you know in one room, and let all of them mingle and network accordingly.
At the end of it, you have demonstrated your business’s influence and reach. Wondering what nature of events to hold for this purpose? Well, conferences, award ceremonies, and dinners are ideal for this objective.
3. Education And Information
Sometimes it is necessary to educate and/or inform your client base, especially if you are rolling out a new service, or when there is a significant misunderstanding of something concerning your company or business.
“People may not appreciate the full spectrum of solutions or benefits one or more of your services offers until you educate them accordingly. For that reason, you should invite your clients and prospective clients to a conference, breakfast briefing, exhibition, panel debate, or a round table where you’ll have an opportunity to put things aright,” reports Seetickets.us.
4. Retaining Customers
You can use business events to project a poignant message of “Thank you” to the hearts of your most loyal and most valued customers. Has a supplier, partner, client, or staff member proven themselves an indispensable asset to your business? Organize an event to say a hearty “Thank you” to them. By doing so, you’ll keep them as customers for longer.
Take, for example, one business that arranged a surprise party at a restaurant for a loyal client who was a great source of referrals to them. The event provided a unique opportunity for the business to show how much it cared about the client. Moreover, it offered a rare opportunity for the business to meet the client's extended network of friends and family.
Therefore, it is important to utilize milestones such as retirements, promotions, and birthdays to communicate your gratitude. That will definitely set your business apart as a company that cares about its customers.
