No matter what kind of business you have—retail, professional services, manufacturing, or technical— hosting events can help your company to grow.
Well-orchestrated events add value to the paid service your customers or clients already receive from you. They make you stand out to existing clients, help attract new ones, and reacquaint you with contacts you don’t see regularly. Best of all, you can get a substantial return on your event investment in the form of new business.
What’s in it for them?
How do you attract people away from their busy schedules to attend your event? By offering educational and networking opportunities. For example, you could organize a seminar or an interactive webinar that offers valuable insights on a subject your clients are interested in. If you have a clothing store, you may consider hosting a cocktail party/fashion show featuring new styles for the season. If you have an accounting firm, you could focus on new tax laws for small businesses.
Alternatively, you might host a straight-out networking party, with cocktails and hors d’oeuvres, or a buffet dinner. Let existing and potential clients meet and network with one another. The more your clients grow, the more your business will grow, too.
Naturally, in the course of the event the attendees will get to know more about you and your business. But remember: Don’t sell. A sign noting that people are at an “XYZ Corporation” party is fine, but don’t give speeches and hand out tons of collateral material. Try to keep your program short, or have none at all. Make the event light, fun, and enjoyable and people will come back when you host another. The presence of so many people from your industry will be a powerful endorsement of your business.
You can share expenses and meet new potential clients by creatively working with other companies. For example, when my firm HJMT moved, we hosted an open house with a “black and white” theme. Instead of hiring vendors, we strategically approached a handful of them—a caterer, a DJ, a decorator, and a winery—that target markets similar to ours. We asked if they would be interested in inviting their clients and potential clients and in return donating their services, since the party was also their party. In the end, we had a terrific event and we all reaped the benefit by attracting new clients.
You also could host a seminar in partnership with a group of people from complementary businesses. My firm once worked with a group that included an insurance firm, a technology company, a law firm, a spyware company, an accounting firm, and a telecommunications firm. The group decided to host an event focusing on privacy issues and the Internet.
Each firm invited all of its clients and prospects. The group split the tab on the venue, which was held at NYC Planet Hollywood. More than 100 qualified people attended, and the group members were so pleased they teamed up again for a follow-up.
Where you can (and can’t) cut back
The key to throwing a great event is to avoid the same old thing. Try a theme, such as a chocolate party, beach party, or snowball bash—something light and fun in which guests can easily participate.
Brainstorm about a non-typical venue where you might host the event— perhaps on a yacht, in a bowling alley, or at a fun new restaurant. (By the way, there’s no harm in running ideas by your clients.)
Once you have your goal in mind, determine what you’ll need to make it happen. Make a list that includes everything, from the design of the “save the date” card and invitations, to postage, giveaways, name badges, caterer, entertainment, staff time, decorations, and more.
Now develop a budget. If necessary, get out your red pen and think about what you can do without. Keep in mind that the most important thing is who is in the room. If there is a good crowd and people are doing business, it won’t matter that the tables don’t have centerpieces. Decorations, giveaways, and entertainment are other areas that can be trimmed. You could forgo printed invitations for email invites, but keep in mind that a printed mail piece will get your event more attention than an email.
Focus your resources on marketing: signage, staff time for follow-up phone calls. Plan to promote your event to social media sites using a quick selfproduced video on YouTube, a group on Facebook or LinkedIn, Tweets, or photos on Flickr.
Before you commit to the event, figure out the ROI to be sure it’s worth doing. How many clients will you need to land? Will you secure more business from an existing client?
After the event, get feedback from attendees so you know what they did and did not like. This will give you direction for your next event. Also, remember to follow up and schedule individual appointments. These will help you close the deal—and get the party payoff you were aiming for.
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This blog was first published in the New York Enterprise Report blog in September 2010.
