Is your market niche becoming too competitive? If yes, how are you planning to stay outwit your competitors and stay in business? A little corporate generosity might work miracles in your business life. Other than providing excellent client service and support, some situations call for going over and beyond the ordinary, for instance, entertaining your customers.
Critics might argue that corporate generosity is only an expense. However, this should be viewed as an investment in the company and the customers. The following are the main advantages of entertaining your clients.
1. To create an exceptional first impression
When meeting new customers for the first time, or trying to woo them, their first encounter and experience with you is among the crucial factors that how they will perceive and regard the quality of your products.
Entertaining your clients demonstrates that you really value them, and you look forward to a lifelong connection with them. On their part, clients will feel treasured and will be more willing to reciprocate the favor by buying services from you.
2. To make clients feel comfortable
In most cases, meetings with clients and signing business agreements occur in offices or official boardrooms. Such environments might be too formal for some clients to give their honest views. However, offering entertainment creates a friendly atmosphere that facilitates the expression of open, honest unrestricted sentiments.
Moving away from the office environment to converse with clients in a more tranquil atmosphere might help the situation in circumstances where you may otherwise not be free. A setting where there are good drinks and food rolling is conducive for deliberating on business issues and looking for shared ground to chat about private lives.
3. To retain and foster connections with clients
It is vital for any organization to build strong connections with clients, especially repeat clients. The tougher the bond, the more your patrons will spend on your products, and the higher the chances of them endorsing your services to their coworkers, friends, and family.
Any generosity shown to customers makes them become your brand ambassadors. According to marketing gurus, potential clients are more likely to trust information coming from their friends and acquaintances than promotional messages from the seller. Thus, if you want clients to spread a positive gospel about your business, then entertain them frequently.
4. To make a distinction of yourself from others
Entertaining your clients is an excellent strategy to show clients that you are better than other service providers are. This sends the right signal to both and potential clients. For would-be clients, any form of entertainment is an opportunity for your company to display its distinctive identity and commitment to lasting relationships.
For current customers, it demonstrates how well you understand them by holding the ideal occasion that is tailored towards them. However, you need not forget that your clients might have experienced similar offers elsewhere. Thus, you may fail to achieve your objectives if you offer them a mediocre entertainment.
If you want to stand out from your competitors, choose the correct place, facility, time, and date when entertaining clients. Should you go for an advanced level of big-heartedness, and that you aim at organizing a corporate entertainment event, then you will be displaying your company and yourself. You will put your services in a positive position with current and prospective clients. Thus, you will need to offer exceptional services, or at least subcontract the whole thing if your capabilities to hold an event of such magnitude is still wanting. You can visit this Engog to hire an entertainment specialist.
5. To have a chance for Interacting and networking
Organizing a professional entertainment event gives you an opportunity to mingle and exchange ideas with your key customers. This means you have a chance to network with several firms at the same time. They might even connect you to not only their friends but also their affiliate companies and business partners that may give you a chance to exploit new business opportunities.
If your event takes place in a shared activity, you might also meet companies that are there for similar reasons. This enables you to exchange business ideas in addition to having an insight into the strategies employed by other stronger competitors. Furthermore, you can learn how those competitors overcome their challenges. In the end, you may learn from the event more than what you hoped to gain.
6. It is possible ROI
Corporate entertainment events offer businesses opportunities for not only publicizing their services but also reaping the benefits of motivated staff. Customers are able to ask clarification questions, and the one-on-one atmosphere created is good for easy convincing of potential clients who may still be having doubts.
Furthermore, entertaining your clients together with some hardworking is a way of motivating them. Employees are crucial players in the success journey of your business. Using corporate client entertainment as a way of rewarding committed is an excellent way of showing your appreciation towards them, and that they are central to our business success.
Showing your workers that you value them is also a way of maintaining their loyalty. If they are good at what they do, and they have established a large clientele trust and following, losing them to your rival companies will have a devastating effect on your business. In addition, you have a chance to use a corporate entertainment event as an inducement to direct your devoted employees in the direction of goals for the company.
The Bottom Line
Experienced marketers agree that the cost of convincing a new client to buy a product can be as high as six times the cost of selling to a current loyal client. Thus, a small investment in the existing clientele through an entertainment event is advisable because the happy and motivated purchaser has higher chances of remaining loyal.
A simple gesture of generosity towards customers promotes a good first impression and creates a friendly atmosphere that is full of trust, understanding, and freedom to air any view. It also fosters creates and cements a strong bond with clients and makes your company stand out from its completion. To conclude, corporate entertainment is a great networking opportunity, a cheap way of motivating hardworking employees, and a chance to realize a quick return on investment.