Corporate Events: 6 Strategies to Meet Growing Demand and Drive Bookings

In-person corporate events continue to grow, and as we enter into the new year, now is the time to prepare. According to Amex’s Annual Global Meetings and Events 2024 forecast, corporations are entering a dynamic period of company growth and team development. Corporations are ramping up their product kick-off meetings, conferences, team-building events, and other company-focused face-to-face gatherings. Here at Tripleseat, we are witnessing our users managing tons of corporate events. Budgets are larger; guest lists are bigger!

As a restaurant, hotel, caterer, or unique venue, you should take advantage of the growing demand for corporate events. Are you ready? We’ll cover some proven ways to get you ready for a great year filled with corporate business.

What is a Corporate Event Example?

Corporate events are a variety of gatherings, meetings, or activities initiated by a company or organization for many reasons. These events vary in scale, from intimate internal meetings to elaborate conferences and parties. The goals of corporate events vary. Objectives include networking, team building, education, promotional activities, and more. These events are vital for enhancing business relationships, boosting employee morale, and realizing strategic goals. Below are some typical categories of corporate events:

Conferences and Seminars

Picture this – a bunch of industry pros and experts getting together to chat about hot topics, share cool insights, and make new friends. It’s all about learning and networking!

Product Launch Parties

This is where companies throw a bash to show off their latest and greatest products. It’s all about creating buzz and getting everyone talking.

Annual General Meetings (AGMs)

Imagine a big family gathering, but for shareholders. Companies share how they’re doing, pick their leaders, and chat about big decisions.

Trade Shows and Expos

It’s like a giant show-and-tell for businesses! They set up shop to flaunt their stuff to potential customers and see what others are up to.

Team Building Retreats

Think fun, games, and outdoor adventures to help teams bond, communicate better, and boost their spirits.

Corporate Parties and Celebrations

From holiday shindigs to celebrating big wins, these parties are all about having a great time and building a happy work family.

Training and Workshops

Here’s where employees become superstars, learning new skills and boosting their know-how.

Board Meetings

The big decision-makers gather around to chart the course of the company. It’s serious stuff, but super important.

Investor Relations Events

Companies catch up with their investors, sharing all the nitty-gritty of their financial health and plans for the future.

Charity and Corporate Social Responsibility (CSR) Events

It’s all about giving back, raising funds, and supporting great causes.

Are Organizations Committed to Corporate Events?

Before we get into some best practices to prepare your venue, you may wonder if companies are planning events. Despite talks of a difficult economic climate, companies remain driven to invest in their companies and workforce through corporate gatherings in 2024. They value events highly and correlate them to profitability, workforce retention, and overall success. Again, budgets are going up, and events are larger!

How to Build a Corporate Event Business

Certainly, the biggest challenge in managing upcoming corporate events will be effectively managing the demand. Preparation is key to building your corporate event business. Here are the best practices to help you drive more bookings.

1. Identify Target Customers for Corporate Events

By understanding your customers, their goals, and anticipated attendee count, you will be best equipped to market your corporate events and attract new and perhaps repeat corporate events.  If you have hosted these events, begin by leveraging any past corporate event details. Next, look at local companies and find out their needs for events. Are they booking small shareholder meetings or larger-scale celebrations? What food and beverage items are they looking for? What amenities would help? Research online to determine how your business can provide value in the corporate event space.

2. Create an Excellent Customer Journey

Now that you better understand the corporate event space and your potential customers, it’s a great opportunity to take a fresh look at your entire customer journey. Explore what it is like to be a prospective corporate event customer today and how they might discover your venue. Next, put in place ways to improve the customer experience from the first interaction online or otherwise. Continue to look at your response methods to questions and the booking process. Next, look at the individual components of your events and how you continue building customer loyalty. Last, solicit feedback from team members and customers so that you can put a defined improvement plan in place.

3. Build an Effective Event Team 

While staffing may be challenging, it is best to prepare by building your events team. First, understand event expectations to determine your staffing needs. Consider the ROI of your corporate event business and adjust staffing shifts to accommodate what brings in the most profit. If you require more staff, write a clear and captivating job posting to attract great candidates. Once you have your team in place, take the opportunity to improve how you communicate and work together. These efforts in your team will create a better work environment, retain key workers, and ultimately make your corporate events succeed.

4. Seek Out the Best Tech Tools

Consider all parts of your business, including back-of-house, front-of-house, and guest-facing. What technology would help improve things? First, consider the workflow efficiencies tech could provide and the data insights the platform could provide. If you don’t know already, Tripleseat is a leader in delivering a better way to capture and manage corporate event leads. Truly a gamechanger in the industry, our platform also provides great intel that you can use to grow bookings.

5. Diversify Corporate Event Offerings

Think about ways to create corporate event sales that fit all budgets effectively. While many corporations have funding for events, other ones are more limited. Be able to accommodate a variety of event styles and sizes as well as various menu offerings. In addition to in-house private events, you may want to fulfill a need for catering and delivery to many corporations. TripleseatDirect is a self-service product that allows your corporate event planners to place catering orders directly and it’s the perfect tool for large group reservations at restaurants. This is extremely cost-effective and can complement your event business.

6. Market Your Corporate Event Brand 

Make sure that you get the word out about your corporate events. You may consider highlighting promotions, event packages, and any amenities to appeal to corporate planners. Also, make some calls to target companies to share your event menus and a few promotional gift cards. Here are some examples of amenities to market:

• Amazing food and beverage menu
• Complimentary and reliable internet 
• Audiovisual equipment
• Electric outlet accessibility
• Branding space and opportunities
• Flexible event space (size and layout)
• Parking
• Excellent customer service 
• Contract flexibility

In addition to marketing and using CTAs on your website and social media, promote through EventUp, the leading venue directory. Included as part of Tripleseat, EventUp is a searchable database of amazing venues that corporate event planners use. You can showcase your corporate event space with photos, videos, floor plans, amenities, and more.

Is Your Venue Ready for Corporate Events?

If you’re not a Tripleseat customer and you’re interested in learning more about Tripleseat’s event management tools and CRM features, schedule a demo at your convenience to take a closer look.