In one form or another, every corporate event is designed to increase sales and profitability. Even team building retreats are designed to help departments work more efficiently so they can increase the bottom line. And at the end of the day, nothing sparks new sales as effectively as relationship development, and this is why you should not overlook the importance of your networking events.
Network receptions are a staple of conferences and conventions, but sometimes they get the axe in corporate events as a cost-cutting move. This is too bad because there aren't that many opportunities during the work day to talk freely with your co-workers. The point is, at least in my opinion, that networking events should be considered an essential part of any offsite event if your company is looking to develop new revenue streams.
A good networking function requires more effort than just the decision to host one. If you really want to maximize the budget spend for these events, you'll want to provide the best atmosphere for business development. Don't assume that the coconut shrimp and open bar will instantly equate to relationship building. Go the extra mile to make the event special, and make sure it is marketed as the "don't miss" function of the day.
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