Four Reasons To Go Small – Size Does Matter
All around us things are Super-Sized. Portion sizes at restaurants are out of control, stadiums just get bigger and bigger, and buildings are taller and taller. But bigger isn’t always better. When it comes to showing customers and top prospects how special they are to you and how you will help them grow their business, the more exclusive, smaller experiences make the bigger impression. That being said, small can mean different things to different people. If you typically have events where 1000’s of people attend, then less than 200 attendees would be “small” to you, but for the sake of this discussion, “small” is fifty or less attendees. Here are four reasons why considering going “small” can make a significant impact.
1. Increase revenue – the more money your sales generate, the more revenue for you! The benefits of a more exclusive, smaller experience for your customers and prospects can be seen right on the spot. Your staff can network and talk deals in person without necessarily being in a stuffy meeting room with a PowerPoint® presentation. People like doing business with people and if they know they’ve got your ear, business will get done. Deals can be closed, orders can be made and ultimately, your business will benefit from it.
2. Boost productivity – large events take a lot of work and resources. Once an idea for a type of activity is to be held, smaller events can be replicated across territories and regions. Allowing for less resources, cost and time. Replicating the format, allows for bulk purchases, better negotiation on prices and less “reinventing of the wheel.” For example, using a venue that has multiple locations across the country allows for multi-venue discounted pricing and is a logistical dream.
3. Build relationships – enough can’t be said about this. Majority of sales are built on and by relationships. Inviting your existing customers and high-level prospects to an experience such as a chartered boat cruise through a harbor full of scenic views or enjoying Sonoma County with private tastings set up for their enjoyment, lets them know how much you appreciate their business and how much they will be taken care of by your company. Remember, happy, satisfied customers lead to promotion of your business and increased sales.
4. Lower costs – let’s face it, events are expensive. They take up a big part of any budget. If you have a limited budget (who doesn’t?) and it must spread across multiple regions, clients, etc., the advantage of smaller events is you can create an authentic and personalized experience for your attendees at a lower cost for each. You may find that you can do more of them! A hosted dinner for twelve at a well-known restaurant with a bourbon tasting, can be less than $3000. Do that four times in a region and you’re at $12,000. Most exhibiting and sponsorships at tradeshows go for more than that and typically are just filling the top of the funnel with potential long sales-cycles vs. closing the deal.
So save the Super-Size for the 7-Eleven’s of the world and consider how smaller event experiences for your business can give you more bang for your buck! Ready to see how smaller, exclusive events can grow your business?
Let Us Plan Your Next Event
If you’re ready to get the process started contact Spin Event Management and we’ll bring your vision to life.