Has Corporate Entertaining Costs Gone Too Far?

In this current harsh economic climate, businesses are working overtime to keep their suppliers and clients happy. Rather than cutting down on corporate entertainment costs, many are spending more and laying on the red carpet. But just how far should you be going to keep those you rely on happy?

The first thing to remember is that all business relationships are two way streets. You might be concerned that the other half will part ways, but it is highly likely that they will want to maintain relationships for the same reasons. With this is mind it is really not necessary to break the bank on corporate entertainment. What is much more effective is well thought out events and hospitality.

You may be able to find out what kind of things your guests have done before and enjoyed, which is very valuable information. You will be starting off on the right foot this way as guests will look kindly on the fact you have taken the time and effort to research their preferences.Secondly, avoid booking one form of entertainment and assuming it will make everyone happy. Everyone has different tastes and relying on a single activity to please everyone is a very risky tactic. For example, if you book a corporate entertainment day at Henley Regatta, don’t just get tickets to watch a couple of races. Arrange for your guests to get a rowing masterclass from an expert, have one of the organisers show them behind the scenes and make sure you have a few goodies to hand out as well. This helps to ensure that the fewest people possible get left out and again makes everyone feel appreciated.

Lastly, ensure that you don’t spend too little on entertaining. You shouldn’t of course go wild and spend like money is going out of fashion, but equally you should not try to take shortcuts or go cheap just to save a bit of dosh. Your guests will be insulted and assume that you do not consider them important enough, which is exactly the opposite message you want to be sending out.
For quality corporate entertaining and team building events visit Team Tactics