Corporate Event Business Strategies: Meet the Growing Demand and Drive More Bookings - By Heather Apse

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.

Oct 29, 2024 - 17:21
Oct 29, 2024 - 15:22
Corporate Event Business Strategies: Meet the Growing Demand and Drive More Bookings  - By Heather Apse

Corporate events continue to grow and as we plan for the new year, now is the time to prepare your event business to drive those bookings throughout 2025. According to Amex’s Annual Global Meetings and Events data, the 2025 forecast is bright, with increased budgets and a positive outlook from professionals. The demand for face-to-face experiences is surging as the industry emphasizes meaningful human connections. Here at Tripleseat, we are witnessing our customers 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 team 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 2025. They value events highly and correlate them to profitability, workforce retention, and overall success. Again, Tripleseat is witnessing corporate event bookings and budgets going up!

Amenities and Offerings Your Venue Needs to Attract Corporate Clients Complimentary Internet 

The word “complementary” goes a long way with corporate meeting planners, who are often tasked by their stakeholders to do more with less. Offering complimentary internet may seem like something little, but there are way more venues that will charge for it than those who have it as a perk. By your venue having and offering complimentary wireless internet you’ll be saving your clients thousands of dollars (no joke). And the more money a corporate planner can save on items like the internet, the more they will be able to spend on food and beverages at your venue.

Audiovisual Equipment

Most corporate events will have audiovisual needs of some sort, whether they are doing a short PowerPoint presentation, have a speaker who will need a microphone, or want to utilize the house sound system for music. Having the basic audiovisual equipment available to them at little or no cost will help them avoid hiring a third-party vendor, and that allows them to stretch their tight budget. Having your venue be a one-stop shop for all of their technology needs will definitely be a plus. 

Branding Opportunities

We love a good branding moment, and chances are your venue has some great opportunities for client branding. Throwing in the use of items like existing monitors, gobo lights, or other areas where clients can use their logo or event branding will be desirable. It will make the client feel like your space is tailored specifically to them and their event. 

Parking

Parking is actually a really great amenity to be able to offer, especially if your corporate clients are local and will need parking to accommodate their guests. Be sure to highlight all available parking and accessibility of your venue from public transportation. Depending on the corporate event, some clients may even request or require valet services. Any parking perks that you can help organize or provide to them at a complimentary or discounted cost will go a long way. 

Furniture and Seating

The right furniture plays a key role in shaping an event’s atmosphere. Thoughtfully chosen seating arrangements and tables aligned with the event’s style and purpose enhance comfort and visual appeal, fostering an inviting, engaging environment.

Seating for corporate events plays a crucial role. Chairs should be comfortable and supportive, especially for longer sessions, helping attendees stay focused and engaged. Ample space between seats allows guests to stretch and move easily, reducing fatigue and promoting circulation, which is essential for maintaining energy levels throughout the day.

Seating should also be arranged to guarantee every attendee has a clear, unobstructed view of the main stage or focal area, enhancing the experience and ensuring they feel connected to the event. Event floorplans and strategic placement of seating near amenities, like restrooms, refreshment areas, and breakout spaces, enables attendees to take breaks or network with minimal disruption, creating a seamless and enjoyable experience.

Event Package Options

Venues catering to corporate events can greatly enhance their appeal by offering a variety of event packages designed to meet diverse needs, budgets, and group sizes. From basic setups for small meetings to comprehensive packages for large conferences, venues can cater to different levels of service with ease. For instance, a standard package might include essential seating arrangements, AV equipment, and refreshments, while premium options could feature advanced tech setups, custom decor, a wider selection of food and beverages, and breakout rooms. With TripleseatDirect, venues can make booking large party reservations simple, providing corporate clients with an effortless solution for planning team dinners, which further boosts convenience and efficiency.

TripleseatDirect also enables venues to accept catering menu orders directly, streamlining the process for both the client and the venue. Customizable packages paired with easy online booking allow clients to tailor their event and dining experience while controlling costs. This flexibility means venues can accommodate everything from half-day rentals to full-service events with add-on options like team-building activities or specialized menu items. By offering a seamless booking and catering experience, venues not only set themselves apart from competitors but also foster stronger, more loyal relationships with corporate clients looking for convenience and personalized service.

Excellent Customer Service

This is a no-brainer. Make sure that there is someone on your team who is dedicated to each client. As a corporate planner, it is easier to deal with and coordinate with one person than with multiple people. It also makes them feel like they get dedicated attention and that you are an extension of their team. Good customer service will help develop those client relationships and ensure that you are the first person they think of the next time they need to plan an event.

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.

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 game-changer 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 More 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.

 

Heather Apse

Heather Apse

Heather is a Content Specialist at Tripleseat. Connect with Heather on LinkedIn.