Does client and prospect corporate hospitality justify its percentage of the marketing budget?

Anyone considering a corporate hospitality event as part of their marketing and/or customer retention strategy must get their objectives spot on. Developing new business is crucial. Enhancing your relationship with your clients and business partners is key to retention. But the outcome of every corporate hospitality type event has to impact your P&L somewhere.

Getting your objectives dialled-in can take time. For example, holding an event where everyone is working to the same sense of achievement, for example a cycling sportive, means you will get to know your existing clients better. And building this stronger bond with your clients means that when a tricky client-to-supplier situation comes up, your stronger relationship allows you to deal with the challenging situation far easier. The result of which is far greater client retention. A positive on the P&L right?

The first question most ask us is; ‘ how much will a days ride cost us?’ Our experience is that you do not have to spend huge amounts of cash to really impress your clients and prospects.

Naturally the most important factor is choosing the right event. It’s what your attendees get out of your day that counts. And assuming you do not have the budget to fly them first class to Monte Carlo and VIP them at the Monaco Grand Prix for three days, a lower key event in the UK is actually OK. We’re all work-rich and time-poor, so an event closer to home and the business works better for most.

Participation events provide the opportunity to get to know people in the right environment. At a PedalTalk Sportive all guests are totally involved,they’re all working towards the same achievement, they talk about the hills, the views, the descents and help each other get through the day. People get to know each other in a natural environment. And some make bike friends for life.

At the end of the day, client and prospect hospitality days work. And whether a cycling Sportive is right for you or not, whichever way you go ensure you pick something that allows you to spend lots of time with your clients, in an environment where you can speak, where you are all working towards a shared sense of achievement and belonging.

If you'd like to find out more about our Private Corporate Sportives, we have a short 3 page PDF that explains more. Please get in touch.

Thank you.

Darren