Business events certainly have value, and in some niches making strong connections is absolutely essential to movement and expansion, but are these major events always the best value for local corporations and even for those participating? The truth is that it can be so hard to figure out what the exact value of a business event is, but taking a serious whole picture look can not only help to get at least a little bit of a better sense of what is going on but also help clarify which business events are beneficial even if getting an exact measurement metric might still be beyond your reach.
LOCAL ECONOMIC BOOM
There’s no denying that business events are exceptional deals for the hosting city or region. That’s a lot of hotel and housing, food and catering, and other services being ordered from people who are all coming from out of town. In other words, outside money pouring into an area. Becoming a place known as a great hosting destination can be of huge economic benefit, which is part of the reason some areas like Dubai and Australia are really going out of their way to advertise as regional and even international destinations to hold serious business events.
When looking at it from a company level, does the value of a good business event still hold up in the same obvious way?
HIGH-END TRAINING BENEFITS
For individual companies looking at the cost of sending individuals to a business event, there are few things that offer better value than events that have high-end training or discussion of recent marketing trends. If a large number of management, mid-management, and up-and-coming employees can show up and not only make connections but also learn additional skills and information that can help them become better sales people, better managers, and better leaders in the workplace then that kind of exposure is going to pay off in every part of the business.
MAKING SERIOUS CONNECTIONS
Making serious connections has always been seen as a major benefit of business events and there’s no denying that this can be helpful. But do you have a strategy? Do you know how to stick out and how to make those major connections without looking like the overly pushy networkers whom nobody really likes?
The ability to understand how to make the right connections, how to approach things the right way, and then to be able to be confident without assuming is key to getting the most out of these potential meetings. In addition to that, it’s important to make sure you’re going to the right business events, the ones that have the training you can use, guests you can connect to, or that offer something else of strong measurable value that will benefit you and justify the expenses involved with flying everyone to that event.
Even locally, sometimes making connections with local businesses in a positive light that aren’t necessarily in your industry can build a good will and reputation that makes a huge difference later – never miss an opportunity to grow locally!