Corporate hospitality is a booming industry, with more businesses appreciating the benefit entertainment events can have on brand image and client relations. The sporting arena is no different, with corporate hospitality becoming increasingly popular.
A growing trend in the market
Rewind 10 or 20 years and there was little on offer in this industry, with small outfits offering services in a much-reduced and less-popular market; now, corporate entertainment is a foundation for building on sponsorships, investments and client relations.
The reputable sport and entertainment company Creative Artists Agency (CAA) has begun its own branch of corporate entertainment, with CAA Premium Experience providing a complete package in terms of marketing, hospitality and events organisation. It combines the likes of Goviva, Inside Sports & Entertainment Group and Beyond Sports & Entertainment, and has recently announced a deal with the NBA to provide VIP packages for the 2018 NBA All Star, illustrating the growing demand for such services.
The benefit of corporate hospitality
Corporate hospitality is a crucial part of solidifying a brand image and a way for companies to get themselves noticed and remembered in the sports world. This is proving its worth in various markets, from pharmaceuticals and film to transport and sport.
In addition, corporate hospitality provides businesses with a platform to engage with their clients in a more personal, meaningful way outside the office, away from business and without an intermediary smartphone or laptop.
Organisations can offer businesses services including planning, promotion and management of events. There is a world of choice when it comes to event types, meaning that the budget and needs of the business can reflect the client or clients they are entertaining. When it comes to sports, for instance, excitement and exhilaration can come in the form of Formula 1 experience, with sporting events companies such as https://edgeglobalevents.com/f1-hospitality/ offering the chance for clients to watch the racing from a suite in the Ermanno Palace in Monaco.
Clients, sponsors and investors will have an experience they will never forget, and the brand image of the host will stay with them. Meanwhile, the business can use the opportunity to share valuable information that clients may not otherwise receive in a board meeting whilst increasing their brand value and setting themselves apart from the crowd in the sporting world.