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4 Reasons Why Events Are Good For Running A Business

4 Reasons Why Events Are Good For Running A Business

There is a litany of reasons why hosting a series of events is crucial for your business. For starters, the main objective of business events is to connect with the current and prospective customers, as well as, build business relationships with them.

Sales executives understand that sharing experiences are a great way to create and establish business connections. Events help to create a forum to cultivate those experiences. Below are four reasons for that hosting business events are good for business:

1. Generating Leads

Hosting an event is a surefire way of landing new prospects. While you’re at it, involve your sales team. There, your sales team can help come up with the most viable prospects in new leads. Moreover, they have a deeper and specific understanding of the potential leads. The sales team will conjure up custom signup questions that will pre-qualify people and companies attending the event. They’ll also help them through the signup process.

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After they’ve signed up for the event, you should keep tabs on them to ensure the event stays in the front of their mind. Keeping in touch here does not mean the mere communication of event logistics (for example, the time and venue of the event). It also means impressing upon the prospective attendees the importance of the event and how it will help them overcome their challenges and achieve their goals.

Lastly, what do you think of charging a nominal fee up-front? Event organizers can attest that making an event free (intending to bring everybody on board) can prove counterproductive. On the other hand, charging a nominal fee upfront can ensure those who sign up for the event actually attend. Experience has shown that people tend to despise and undervalue free things.

A small financial commitment, on the other hand, will encourage them to show up for the event. Considering the fact that you can channel the nominal fee to cover some expenses, this has to be one of the most ingenious ways of killing two birds with a single stone.

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2. Brand Awareness

Do you want to raise your brand awareness? There is no better way to do that than through hosting an event in that respect. That is the reason why lifestyle and fashion brands love launch parties and relevant events that give them the opportunity to convey the value of their product or brand. Your business, too, can use events to convey a brand message.

There is a host of ways your business can go about this:

  • Showcasing your abilities: You can invite prospects to an event where you get to showcase your business’s expertise and creativity, especially if your business is in the creative industry. Use your skills to organize an awesome event that will wow and interest all the visitors that show up for the event.
  • Network: Most businesses in the service-related industries thrive on pertinent connections. And, such businesses need to demonstrate to their clients and prospective clients how well-connected they are. Localizing a website or a business overall can be achieved with much success through events. If this is your goal as well, then assemble all the bigwigs you know in one room, and let all of them mingle and network accordingly.

At the end of it, you have demonstrated your business’s influence and reach. Wondering what nature of events to hold for this purpose? Well, conferences, award ceremonies, and dinners are ideal for this objective.

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3. Education And Information

Sometimes it is necessary to educate and/or inform your client base, especially if you are rolling out a new service, or when there is a significant misunderstanding of something concerning your company or business.

“People may not appreciate the full spectrum of solutions or benefits one or more of your services offers until you educate them accordingly. For that reason, you should invite your clients and prospective clients to a conference, breakfast briefing, exhibition, panel debate, or a round table where you’ll have an opportunity to put things aright,” reports Seetickets.us.

4. Retaining Customers

You can use business events to project a poignant message of “Thank you” to the hearts of your most loyal and most valued customers. Has a supplier, partner, client, or staff member proven themselves an indispensable asset to your business? Organize an event to say a hearty “Thank you” to them. By doing so, you’ll keep them as customers for longer.

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Take, for example, one business that arranged a surprise party at a restaurant for a loyal client who was a great source of referrals to them. The event provided a unique opportunity for the business to show how much it cared about the client. Moreover, it offered a rare opportunity for the business to meet the client’s extended network of friends and family.

Therefore, it is important to utilize milestones such as retirements, promotions, and birthdays to communicate your gratitude. That will definitely set your business apart as a company that cares about its customers.

Featured photo credit: Pixabay via pixabay.com

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Nabin Paudyal

Co-Founder, Siplikan Media Group

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Last Updated on November 26, 2020

How Relationships Building Helps Achieve Career Success

How Relationships Building Helps Achieve Career Success

As playwright Wilson Mizner supposedly said all the way back in the 1930s,

“Be kind to everyone on the way up; you will meet the same people on the way down.”

The adage is the perfect prototype for relationship building in 2020, although we may want to expand Mizner’s definition of “kind” to include being helpful, respectful, grateful, and above all, crediting your colleagues along the way.

5 Ways to Switch on Your Relationship Building Magnetism

Relationship building does not come easily to all. Today’s computer culture makes us more insular and less likely to reach out—not to mention our new work-from-home situation in which we are only able to interact virtually. Still, relationship building remains an important part of career engagement and success, and it gets better with practice.

Here are five ways you can strengthen your relationships:

1. Advocate for Other’s Ideas

Take the initiative to speak up in support of other team members’ good ideas. Doing so lets others know that the team’s success takes precedence over your needs for personal success. Get behind any colleague’s innovative approach or clever solution and offer whatever help you can give to see it through. Teammates will value your vote of confidence and your support.

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2. Show Compassion

If you learn that someone whom you work with has encountered difficult times, reach out. If it’s not someone you know well, a hand-written card expressing your sympathy and hopes for better times ahead could be an initial gesture. If it’s someone with whom you interact regularly, the act could involve offering to take on some of the person’s work to provide a needed reprieve or even bringing in a home-cooked dish as a way to offer comfort. The show of compassion will not go unnoticed, and your relationship building will have found a foothold.

3. Communicate Regularly

Make an effort to share any information with team members that will help them do their jobs more effectively. Keeping people in the loop says a lot about your consideration for what others need to deliver their best results.

Try to discover the preferred mode of communication for each team member. Some people are fine relying on emails; others like to have a phone conversation. And once we can finally return to working together in offices, you may determine that face-to-face updates may be most advantageous for some members.

4. Ask for Feedback

Showing your willingness to reach out for advice and guidance will make a positive impression on your boss. When you make it clear that you welcome and can accept pointers, you display candor and trust in what opinions your superior has to offer. Your proclivity towards considering ways of improving your performance and strengthening any working interactions will signal your strong relationship skills.

If you are in a work environment where you are asked to give feedback, be generous and compassionate. That does not mean being wishy-washy. Try always to give the type of feedback that you wouldn’t mind receiving.

5. Give Credit Where It’s Due

Be the worker who remembers to credit staffers with their contributions. It’s a surprisingly rare talent to credit others, but when you do so, they will remember to credit you, and the collective credit your team will accrue will be well worth the effort.

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How Does Relationship Building Build Careers?

Once you have strengthened and deepened your relationships, here are some of the great benefits:

Work Doesn’t Feel So Much Like Work

According to a Gallup poll, when you have a best friend at work, you are more likely to feel engaged with your job. Work is more fun when you have positive, productive relationships with your colleagues. Instead of spending time and energy overcoming difficult personalities, you can spend time enjoying the camaraderie with colleagues as you work congenially on projects together. When your coworkers are your friends, time goes by quickly and challenges don’t weigh as heavily.

You Can Find Good Help

It’s easier to ask for assistance when you have a good working relationship with a colleague. And with office tasks changing at the speed of technology, chances are that you are going to need some help acclimating—especially now that work has gone remote due to the COVID-19 pandemic.

Much of relationship building rests on your genuine expressions of appreciation toward others. Showing gratitude for another’s help or for their willingness to put in the extra effort will let them know you value them.

Mentors Come Out of the Woodwork

Mentors are proven to advance your professional and career development. A mentor can help you navigate how to approach your work and keep you apprised of industry trends. They have a plethora of experience to draw from that can be invaluable when advising you on achieving career success and advancement.

Mentors flock to those who are skilled at relationship building. So, work on your relationships and keep your eyes peeled for a worthy mentor.

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You Pull Together as a Team

Great teamwork starts with having an “abundance mentality” rather than a scarcity mentality. Too often, workers view all projects through a scarcity mentality lens. This leads to office strife as coworkers compete for their piece of the pie. But in an abundance mentality mode, you focus on the strengths that others bring rather than the possibility that they are potential competitors.

Instead, you can commit relationship building efforts to ensure a positive work environment rather than an adversarial one. When you let others know that you intend to support their efforts and contribute to their success, they will respond in kind. Go, team!

Your Network Expands and So Does Your Paycheck

Expand your relationship building scope beyond your coworkers to include customers, suppliers, and other industry stakeholders. Your extra efforts can lead to extra sales, a more rewarding career, and even speedy professional advancement. And don’t overlook the importance of building warm relationships with assistants, receptionists, or even interns.

Take care to build bridges, not just to your boss and your boss’s boss but with those that work under you as well. You may find that someone who you wouldn’t expect will put in a good word for you with your supervisor.

Building and maintaining good working relationships with everyone you come in contact with can pay off in unforeseen ways. You never know when that underling will turn out to be the company’s “golden child.” Six years from now you may be turning to them for a job. If you have built up a good, trusting work relationship with others along your way, you will more likely be considered for positions that any of these people may be looking to fill.

Your Job Won’t Stress You Out

Study shows that some 83 percent of American workers experience work-related stress.[1] Granted, some of that stress is now likely caused by the new pandemic-triggered workplace adjustments, yet bosses and management, in general, are reportedly the predominant source of stress for more than one-third of workers.

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Having meaningful connections among coworkers is the best way to make work less stressful. Whether it is having others whom to commiserate with, bounce ideas off, or bring out your best performance, friendships strengthen the group’s esprit de corps and lower the stress level of your job.

Your Career Shines Bright

Who would you feel better about approaching to provide a recommendation or ask for promotion: a cold, aloof boss with whom you have only an impersonal relationship or one that knows you as a person and with whom you have built a warm, trusting relationship?

Your career advancement will always excel when you have a mutual bond of friendship and appreciation with those who can recommend you. Consider the plug you could receive from a supervisor who knows you as a friend versus one who remains detached and only notices you in terms of your ability to meet deadlines or attain goals.

When people fully know your skills, strengths, personality, and aspirations, you have promoters who will sing your praises with any opportunity for advancement.

Final Thoughts

At the end of the day, it is “who you know” not “what you know.” When you build relationships, you build a pipeline of colleagues, work partners, team members, current bosses, and former bosses who want to help you—who want to see you succeed.

At its core, every business is a people business. Making a point to take the small but meaningful actions that build the foundation of a good relationship can be instrumental in cultivating better relationships at work.

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Featured photo credit: Adam Winger via unsplash.com

Reference

[1] The American Institute of Stress: 42 Worrying Workplace Stress Statistics

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