There are few events on the American calendar that transcend time, that hold the same appeal today as they did decades ago. Sports allow for unique experiences and opportunities to influence clients.
Entertaining clients (or, more importantly, potential clients) at a sports event is a great way to foster corporate relationships. In today’s business climate it’s important that you take every measure to prevent your clients from developing a wandering eye.
Whether you’re a lawyer, accountant, or financier, hosting a client at a game this is a wise investment. Corporate sports entertainment is an ideal vehicle for strengthening existing business relationships, forging new ones, or simply rewarding those clients who continually supply your business with their trade.
Sports offer the perfect place to pamper your clients in comfort, privacy, and style. A sports event provides a unique extension for your business. Host your clients at a sporting event and enjoy:
- The opportunity to differentiate from your competitors
- Substantial return on your investment
- Unmatched sightlines
- An unforgettable experience
Sports can provide an impressive setting for entertaining business associates and sharing exceptional moments.
Generate More Revenue
Industry studies show that it costs between four to six times more to sell to a new customer than it does to an existing one. They also reveal that as much as 80 percent of your annual revenue can come from just 20 percent of your customers (i.e. the Pareto principle).
So, a little investment in these people can go a long way to strengthening your bottom line. When you control that much potential revenue in your suite for a four hour period, investing in hosting at a sports event becomes a no-brainer. Spending three figures to entertain a client is a small price to pay to receive six figure returns.
But face time is just half the formula. Your clients also need to be entertained. We know from experience that an engaged client is more likely to remain loyal to your business. This loyalty ensures that they will still be doing business with you this time next year and promotes the delivery of your message to future customers. You have the opportunity to leverage more business without lifting a finger.
Sports hospitality and entertainment is a major marketing tool and part of today’s sales process and brand growth. Hosting clients at a premier bowl game can help nurture a relationship or close a sale. It also makes the transaction personal and offers your client an opportunity to see you outside of the rigid confines of the courtroom or boardroom.
We liken the role of the relationship in face-to-face business to an oil can used to lubricate the gears in a sophisticated machine. It’s possible to sell without having good relationships with your clients; it’s just much harder. Building powerful relationships is like oiling those gears. It makes everything work that much easier.
Take this opportunity to create a lasting memory that can be a turning point in your relationship with a client. The client will get to know you better, and, in so doing, become more comfortable with you as a person. You may not always exchange business information or strike a deal during the game. But you’ll become friends instead of associates. You can make an impact.