It’s not easy for a business to flourish in a very cutthroat corporate environment. In fact, only 25% of businesses will survive past the 15-year mark, according to the U.S. Bureau of Labor Statistics. For this reason, it is of great importance that every possible effort is made to increase exposure, attract new business, and retain existing clients. There are many ways to achieve this, including the formulation of an effectual marketing plan. Hosting business events can also provide very tangible benefits. Apart from helping build brand awareness, events can also be utilized as a networking opportunity and as a way to generate media attention.
Building Brand Awareness
By hosting a memorable event, you can create a substantial amount of hype around your business. Whether you are unveiling a new product or service, celebrating a milestone birthday or noteworthy industry achievement, or announcing a rebranding, an event is the perfect way to generate a buzz.
You can also reignite interest in other areas of your business where you might recently have experienced a decline in sales. Events that include good food and entertainment tend to be particularly effective at generating good publicity for a business organization especially in businesses that focuses on physical product.
In recent times, especially with what’s happening today, virtual events have enjoyed a rapid increase in popularity, however. Hosting an online event that offers attendees networking opportunities, workshops, and brainstorming sessions can be just as beneficial as a traditional event if it is executed expertly.
Form Lasting Relationships
Business events provide a superb opportunity to network with existing and prospective clients, suppliers, other industry professionals, and even employees. By providing all your attendees with an enjoyable experience, it will become simpler to initiate lasting relationships.
When people are in a relaxed and pleasant setting, the conversation typically flows more easily, and the need to use formal sales pitches is reduced. While establishing a connection is important, it is also imperative to keep in touch after the event to indicate your genuine interest in forging a lasting business relationship.
The Press Loves a Good Event
Global industry leaders like Red Bull and Apple are known to hold exciting, experiential events that are bound to impress the media. Even if you aren’t a Fortune 500 company, you can enjoy a healthy dose of press coverage courtesy of a well-executed business event. Media houses are generally very eager to cover events that feature well-known speakers, attract famous attendees or very big crowds, or that have an educational/charitable element to them. You can obtain press coverage in one of two ways. You can formally invite the press to your event, or you can issue them with a well-formulated and captivating press release afterward. Either way, you will more than likely be able to generate quite a bit of media hype surrounding your event.
The U.S. economic climate is becoming more competitive by the day. Business events can be utilized to not only boost brand awareness but also to set an organization apart from the competition.