Corporate Events: The Benefits

Why is the event industry worth over £45 billion pound to the UK economy, and why are corporate events such an important business activity? We found five common motivations behind why companies (small and large) utilise corporate events to boost various activities in their businesses. And here they are:

Customer Facing: Sales And Lead Generation

In a digital world where everyone is practically attached to their smartphones, you can’t beat face-to-face interaction, and still, to this day, people buy from people – which is why companies are willing to spend thousands of pounds exhibiting at large trade shows every year to meet new customers, network and demonstrate what they have on offer.

There is no better way to reach your target market than at a trade show where anything from 50o-5000 people will attend so you can build your brand amongst a carefully curated audience. This is why so many companies organise trade shows and consumer-facing events. Customers can see their products or services, get a taste of what’s on offer and meet the team.

Staff Retention

Incentive trips and away days can increase staff morale, motivation, productivity and competitiveness, giving staff something extra to strive for and look forward to, which ultimately make staff happier at work – increasing not only retention, but happiness and productivity, too. These types of events are great for divisions that operate on KPI’s such as sales teams.

Instead of diverting your spend to recruitment and onboarding fees, why not spend less on retaining the staff you already have? Sales and customer service teams all over the world look forward to lavish trips away, and an experience that the average person can’t afford to buy with their salary, and this is why incentive trips and away days are such a good investment.

Onboarding And Training

Onboarding and training events are an excellent way to roll out new processes, introduce new technologies, and train new starters in a memorable way that sets a good impression from the start. For example, Dyson send all of their new starters on a two-day trip to a gorgeous hotel near their head office in Malmesbury and which makes new starters feel welcome.

They get to meet their co-workers in a beautiful scenario, learn about the business and engage in pleasurable activities that ensures they feel welcome, and retain their knowledge better, whilst creating a good feeling of wellbeing – adding to the excitement to start their new position. This is a much effective way of doing onboarding, rather than sitting in a boring board room in the office.

PR

Events can generate great business press, which is why PR teams tend to organise lots of events to reach out to journalists, the media and launch new products into the marketplace, or make special announcements. We’ve seen how iconic Apple events have gone on to become, especially the ones featuring Steve Jobs.

What better way is there than to put on an exclusive event for journalists, do something that will attract their attention and make them want to write about it? This beats writing a press release and sending it out to journalists and chasing them for coverage. If you create a memorable experience, they’ll want to write about it.

Revenue

Lots of small businesses organise events as an additional revenue stream, and as a marketing tool to build their brand and sell products amongst their target audience. We’ve seen how popular topic-based seminars have become amongst small businesses, and how they can be used as a great way to make contacts and demonstrate authority in your field.

And the great thing is, you’ll retain the data, and your sales team will have an amazing icebreaker the following morning. Businesses that organise these types of events win new clients and make additional money on ticket sales – an absolute must for small businesses who are looking to get their name out there and win new business.

At LS4 Events, we’re experts at all things corporate events. Instead of stressing yourself out and spending loads of time and resources doing it in house, why not use us? We’ll get you the best deals in the industry, make best use of your budget, and organise your event to a high standard faster than you can do it yourself. Get in touch.