Last month Mason Alexander held a truly enjoyable wine tasting evening inviting all clients and prospective clients to join them. The night kicked off in one of the stunning rooms at No. 25 Fitzwilliam Place. On arrival, guests were presented with a glass of Maison Ambroise, Bourgogne Aligoté 2012, taken from a selection of beautiful wines which were to be tasted later in the evening. The presenter for the event was Raymond Blake who is one of Ireland’s leading wine writers and broadcasters on Lyric FM. The event coincided with the launch of his captivating book; Breakfast in Burgundy.

As more guests arrived an atmosphere of enjoyment ensued. Conversation flowed and relaxed smiles emerged. Before the wine tasting commenced delicious canapés of goat cheese, duck, crab and organic sausages were distributed.

Blake started the presentation discussing the white wines, all from the year 2012 and finished with red wines. He included many anecdotes relating to each wine, describing them in hilarious detail. As the night went on and more wine was sipped, laughter could be heard from all corners of the room. This was a night to renew existing relationships, develop new ones and a night for everyone to simply enjoy each other’s company.

Below are the five key reasons why client events are so important according to Dr. Tina Benson from Team Tactics Ltd:

Nurturing Relationships

Hosting client events are a highly effective way to take a relationship with a client to the next level. Preserving business with existing clients is far less costly than the cost of attracting new clients to replace those who take their business elsewhere.

Word of mouth is the cheapest and most trusted form of promotion. Studies show that by nurturing existing relationships, the return on repeat business massively increases.

Maintaining Relationships

In a competitive industry no business can afford to be complacent when it comes to relationships. Special relationships with a client will wither if not nurtured. While clients are attracted by a value proposal, relationships provide a significant advantage when it comes to retention.

Differentiating Your Business from the Competition

Even with existing clients it is still important to differentiate yourself as the competition are always ready to offer an alternative should your client’s loyalty wane. The experience of first class client entertainment or corporate hospitality is a fantastic way to do this.

Furthermore client hospitality is an opportunity to differentiate your business in terms of commitment, personality, going the extra mile; or for a more established client, demonstrating how well you understand them by hosting the perfect event.

Networking Opportunities

It’s not what you know… it’s who you know that really makes the business world go around. At a professional event you will not only have a chance to mix and mingle with your own important clients but you’ll also have the opportunity to meet likeminded individuals and businesses that may provide you with new and important relationships.

Entertaining Key Staff

Although hospitality is most often associated with client entertainment, all of its principal benefits can be equally applied to an organisations key staff. The knowledge, skills and understanding that experienced staff have of a business as well as their relationships with colleagues and clients means that it is far more cost effective than to invest in staff retention than to spend time and resources on recruiting and training replacements.

It is also an excellent way to strengthen bonds of personnel with a business and with each other, which in turn has valuable benefits for morale, motivation and teamwork.