business, relationships play a key role. This
is a service industry, and having effective
relationships with all stakeholders is very
important. “Relationship, relationship,
relationships,” says Saumyadeep of Bridge
Events, when asked for key elements in
developing markets for this business. The
web of relationships cuts across clients,
suppliers at all levels as well as participants
that you invite to these events.
While this is core, it is also important to
understand the expectations of clients, as
every event has different set of objectives.
For instance, corporate events are usually
tied to some ROI. Hence, demonstrating
the returns that a client will derive from a
small event is important.
However, how do you measure ROI for
a round the table event? To address this,
it is important to look at all the possible
outcomes – immediate (during the event),
in the short term, the medium-term
impact, direct returns, as well as potential
leads and referrals generated from such
events. If well executed, these events have
a higher ROI per capital compared to the
large-scale events. The level of engagement
is based on immediate needs, with faster
access to information and in-depth
engagement.
The small and medium size events also
help to generate trust. Unlike a large event,
a small event brings a one-on-one and
closer interaction between participants.
This helps to further deepen relationships.
The small groups invited for such events
Having concise content is a key challenge for
small and medium size business events, espe-
cially when one considers the number of partic-
ipants. Unlike large events whose time can be
filled with not only presentations but prolonged
entertainment, small events cannot afford such.
Most small group events happen with a given ob-
jective in mind.
are the ambassadors who will spread the
word about the events, the location, product
or any follow ups. They create a foundation
for a good turnout in case of any bigger
follow up events.
Executing these small events is very critical
not only for the industry but also for the
economy. They help to develop the industry.
Being a trust based industry, scaling in most
cases happens from existing relationships.
Venues also play an important role even
for the small events. Inviting participants
to an office may sound like an outright
selling proposition. Hence entities are also
considering out of town events, especially
for close relationships with key stakeholders
such as dealers or top customers.
A grandeur venue on the other hand may
leave an impression of extravagance (unless
for luxury industries). In this case, customers
may perceive their money will eventually
be used to cover such expenses. Having a
customized venue therefore helps to make
the participants comfortable.
Challenges
Having concise content is a key challenge
for small and medium size business events,
especially when one considers the number of
participants. Unlike large events whose time
can be filled with not only presentations
but prolonged entertainment, small events
cannot afford such. Most small group events
happen with a given objective in mind.
“Content has to be catchy, precise and
convincing, especially small corporate
events. One has to be sure and on top of
things as far as content is concerned’, adds
Saumyadeep. However, this is an area the
client, more than the service provider is
in-charge. To give hand in this area, one
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can help clients by offering to upload
the content beforehand, and help with
rehearsals (politely insist on rehearsals!).
This will help to meet the objective
within a short time. In most cases,
people participating in these events are
either coming to learn something, for
networking – an investment of their
time, rather than socializing.
Taking participants out of the
boardrooms or out of station should
provide a relaxing atmosphere to
educate. It should be a pull content.
Push content or sales pitch moments,
though important, should be subtle.
The quality of equipment is also a key
challenge. This ranges from audio-visual,
catering to lighting, among others.