Top 5 Reasons for Hosting a Corporate Event
Happy employees make happy companies because they’re more engaged and more productive. Yet across the world, just one out of every five employees is engaged at work, according to Gallup. However, Gallup says that by following employee engagement best practices, companies can boost engagement all the way to 73%. Since engaged employees are more productive, are less burned out, and stick around for longer, smart organizations are focused on doing everything they can to boost happiness and engagement.
One effective way to do this is by hosting corporate events and making your team an integral part of them. In addition to helping you promote your brand, nurture existing relationships, and connect with potential leads, corporate events are also a great way to bring your team together and get them more excited about work.
Keep reading to learn more about corporate events, why they’re important, how to put on a successful event, and what great corporate events look like.
What is a corporate event?
A corporate event is an event that an organization puts on to engage its employees and customers while attracting the interest of potential clients. From webinars and field marketing events to recruiting events and sales kick-offs, there’s no shortage of different types of corporate events companies can organize.
5 Reasons for Hosting a Corporate Event
According to Allied Market Research, the U.S. corporate event market — which hauled in $95.3 billion in 2020 — is expected to reach $510.9 billion by 2030, growing 17.3% yearly. This impressive growth can be attributed to the fact that corporate events deliver many benefits to the organizations that host them and the folks who attend.
With that in mind, let’s look at some of the more popular reasons for hosting a corporate event.
1. Celebrating Your Wins
Events are the perfect time and place to recognize your team’s hard work and celebrate their contributions — which, in turn, increases happiness, engagement, and productivity. According to a recent Harvard Business Review report, workers with managers prioritizing employee recognition are 40% more engaged than their counterparts who aren’t as lucky to have great bosses. If you want to build a stronger, more inspired team, it might be time to host a company retreat dedicated to this purpose.
2. Motivating Employees
Corporate events are always a great way to motivate your team. Whether you’re hosting a large-scale industry conference, an exciting product launch, or a professional workshop, employees will feed off the excitement and enjoy professional development and networking opportunities. Once the event wraps up, your team will be reenergized for whatever’s coming next.
3. Generating Leads
Events are the perfect place to meet new business prospects and capture leads. When you meet people face-to-face — in-person or even virtually through a screen — you can begin building personal relationships with potential buyers.
Many of the folks who show up at your events come because they want to learn more about your products and services; they’re already interested, so you don’t have to pitch them cold. As a bonus, depending on the size and scope of your event, you can collect a ton of leads in a relatively short time, since everyone is in the same place.
4. Promoting Your Brand
Corporate events are also a great way to raise brand awareness and generate buzz — particularly when you create an event theme that stands out. By demonstrating products and services to a captive audience, you can connect with them more personally. Instead of reading blog posts or seeing a commercial, potential buyers will memorably experience your products. The bigger your event, the more buzz and word-of-mouth you’ll likely rack up.
5. Cultivating Employee Happiness and Boosting Retention
Corporate events are a great way to improve employee retention, boost morale, promote company culture, cultivate cooperation, and attract new talent. They can help employees feel more connected to their company and their colleagues, and they can also provide a much-needed break from the daily grind.
After years of pandemic work environments, employees are also ready to return to corporate events to engage with their colleagues. According to TravelPerk, 79% of employees are most excited to get back to events to meet their colleagues face-to-face and build meaningful relationships IRL.
Corporate events are a great option if you are looking for ways to improve employee retention, team building, and company culture. They are a cost-effective way to provide your employees with a fun and enjoyable experience that can positively impact your business.
5 Types of Corporate Events
1. Company Retreats
If you’re looking to bring all employees together for a team-building experience that increases team morale and alignment, a company retreat might be just what you need. Such events often occur off-site at resorts, or at least out of traditional office settings.
Employee happiness improves by taking your team out of their day-to-day routine and including fun activities in the retreat — like scuba diving, hiking, and spa days — and team members come back refreshed and ready to crush it.
Industry conferences are large-scale events that cater to folks in the same industry and are designed as opportunities for attendees to learn new things, share knowledge, and network with colleagues. In addition to raising brand awareness and capturing leads, companies also use conferences to drive revenue through ticket sales and sponsorships.
3. Trade Shows
If you’re looking to bring a lot of different companies together to show off tons of products while offering lots of opportunities to upskill and learn new things, a trade show can be a good option. Generally speaking, companies host and attend these events to capture more leads and raise brand awareness while meeting prospective customers in a face-to-face setting.
Workshops are geared toward helping attendees learn how to use tools, achieve certifications, and absorb new knowledge about their line of work. This format is ideal for smaller, more intimate crowds for productive hands-on, interactive experiences.
5. Product Launches
Are you bringing an impressive new product to market? Consider hosting a dedicated product launch event to make the biggest splash possible. This is a great way to engage your audience, build hype for your new product, and generate buzz through media coverage and social media chatter.
5 Great Tips for Hosting a Corporate Event
Here are some corporate event planning tips that should help increase the chances your next event is a success.
1. Plan Ahead
Successful events don’t materialize out of thin air. They’re the result of countless hours of planning and preparation. To ensure your next event is a success, you’ll need to spend a lot of time planning. Not sure where to start? Check out these pre-event checklist templates.
2. Set a Budget
You might want to throw the most extravagant event the world has ever seen. But if you don’t have the funds to make that happen, you must scale down your scope. As you begin planning your event, figure out how much money you can afford to spend and stick to it. After all, you don’t want to stare down a mountain of debt when the event ends. Need help planning your budget? Download Bizzabo’s Event Budgeting Guide.
3. Choose the Right Venue
You’ll also have to figure out where your event will be held and whether it will be in-person, hybrid, or virtual. The ideal venue will be in a convenient location and can accommodate however many attendees you expect comfortably. Don’t forget: If you need help sourcing a venue, you can always ask ChatGPT.
4. Plan the Logistics
Now, it’s time to figure out the logistics. When will the event take place? How will speakers, sponsors, employees, and attendees get to the venue from their hotel? What food and beverage options will they have to choose from? What event technology do you need? What about signage, branding, and other materials? How will the event be staffed? These are just some of the questions you’ll need to answer.
5. Follow-up With Attendees
After the event is over, the event marketer’s job is just beginning. You’ll need to engage attendees with email nurture campaigns, surveys, free trials, marketing newsletters, exclusive offers, and more. You’ll also need to start raising awareness about your next event, too. Need some inspiration for a post-event strategy? Check this out.
Examples of Great Corporate Events
INBOUND is HubSpot’s annual event, bringing together tens of thousands of professionals to learn the latest and greatest about sales, marketing, customer success, and revenue operations. After pivoting to virtual events for two years during the pandemic, INBOUND 2022 took on a hybrid format, with some folks attending in the flesh and others attending online.
Some of the main highlights from this event were its keynote speaker, former President Barack Obama, and the introduction of Bizzabo’s wearable tech, which provided an exciting way for attendees to connect.
Zapier’s Company Retreats
As a fully distributed company, Zapier makes it a habit to bring the team together twice a year for company retreats in places like California, Toronto, Utah, Vancouver, and Colorado. In 2022, the company held its retreat in the metaverse, giving the team a unique and unforgettable digital experience.
Personio’s All Company Culture Week
Each year, Personio brings its 1,800 employees together for a weeklong company retreat designed to strengthen team bonds, give back to the community, and excite the team for the upcoming year. In 2022, the company used Bizzabo to deliver a hybrid event because some folks on the team were uneasy about traveling due to the pandemic. With a powerful event tech platform driving the experience, in-person and virtual attendees had a great time.
Get Started: Host a Memorable Corporate Event
With the right approach, corporate events can be transformative, boosting employee morale, helping you build stronger relationships with your customers, and bolstering your bottom line.
But at the same time, corporate events aren’t exactly easy to execute flawlessly.
Not a problem — we’re here to help.
For inspiration to ensure your next corporate event is one nobody forgets anytime soon, check out our Guide to Planning the Best Hybrid and Virtual Corporate Events.