Jennifer Davidson, Head of Coconut Events investigates the rise in demand for corporate hospitality as the market recovers.
With the economy stepping out of recession, competition to gain new clients is fierce. The economic downturn has not only seen business go bust but also a change on where budgets are being spent. Businesses are savvier, smarter and know what they want.
Rather than being seen as a ‘jolly’ Corporate Hospitality has gained a new, more prominent position in the marketing mix. Companies are seen to be using Corporate Hospitality as a business retainer, and a chance to build relationships with customers and suppliers for long term gain.
When choosing events to attend remember brand reflection. Top 3 Corporate Hospitality Events of the season not to be missed:
2. British Gran Prix
Overall, the UK corporate hospitality market is projected to increase by 11% in real terms between 2010 and 2015, reflecting greater understanding of corporate hospitality as an effective communications strategy.
“It is becoming increasingly important. What we are in danger of losing in the modern world of mobile phones and Blackberries is people doing business with people. Taking time out of everyone’s increasingly hectic schedules to spend time with customers, suppliers and bankers is becoming more necessary.”