In today’s digital-first business world, building meaningful client relationships requires more strategic thinking than ever before. While email blasts, marketing campaigns and video calls might help companies connect with prospective buyers, those that seek to align with better client relationship-building practices are doubling back to the value of live, in-person events as catalysts for connection that can pave the way for some of the most profound business ventures down the line.

The best companies understand that events are more than just networking opportunities; they’re strategic, relationship-building endeavors that can turn a passing prospect into a devoted client or client into a brand ambassador.

What’s Behind Event-Driven Relationship Building

There’s something about meeting people in-person that just doesn’t translate through technology. The phenomenon of social bonding posits that people who partake in activities together find themselves more closely connected than those who merely engage from afar. Thus, for companies that master event-centric connection building, the power of social bonding works in their favor, naturally.

When a prospect actively attends a company event, they’re more likely to remember said company for how well the event was executed because they were part of something greater. In a competitive marketplace where products and services all bear similar features and advantages, the socially motivated memories from a live event provide for a powerful differentiator.

Crucially, however, events must be geared toward good intention, not merely sales pitches for what’s being offered. The best companies give attendees good reasons to be there, whether it’s a focus on education, networking opportunities or some fun factor that attendees will appreciate once the event is over.

Characteristics of Successful Events

The best events for relationship building have several things in common: they’re well planned with specific audiences in mind; they feature content that speaks to legitimate business pain points; and there are multiple opportunities for engagement between attendees and company employees.

Diligent companies utilize event management software or other professionals to streamline their efforts toward execution. Whether it’s Loopyah or something similar, companies can manage registration and communication aspects so they don’t overburden themselves with upfront obligations that might cloud the ability to deliver post-event quality.

In addition, effective event planners think through the entire life cycle of an attendee – from invite to follow-up. Every touchpoint is another opportunity for relationship reinforcement as well as professionalism.

Post-Event Relationship Conversion

However, it’s the post-event connection building phase that separates good companies from great ones. Those companies with systematic processes in place to convert prospects into clients via thorough follow-up inquiries are far more successful than those that simply thank everyone for coming and leave it at that.

Whether it’s timely correspondence making reference to a question asked or a more personalized approach such as an invite to an additional follow-up session or link to relevant information related to what was discussed, the best companies boast a multi-faceted approach to ensure relationships started at live events flourish.

The best companies even develop tiered events where people are first invited to broader gatherings (educational seminars, for example) before engaging them deeper and deeper into smaller gatherings. An incremental approach helps bolster a personal touch without making someone feel like they’re under scrutiny as they progress.

The best companies also monitor relationship developments through their events – who attended from start to finish, who asked the most relevant questions, who attended several events – and better identify those relationship-building opportunities worth sustaining.

Measuring ROI

When considering the ROI associated with live events and ultimate relationship building, it’s not based on immediate revenue generated or number of leads converted. Companies with serious connections over time assess variables like retention rates among event-goers versus those acquired through digital or organic means; average contract value among relationships initiated from live event attendance; and frequency of referrals based on those who attended. Many companies note that while events yield a higher initial investment than digital marketing efforts, the lifetime customer value of relationships built suggest otherwise.

In addition, the best events boast a memorable experience as part of the advancement toward relationship building.

They forge bonds based on experiences that people can appreciate together in ways that might not typically be afforded at simple networking sessions (Q&A time). The best events boast novel venues through which people bond over new experiences; interactive workshops where attendees feel empowered to take the reins and contribute; expert panels by thought leaders who add valued credibility to a branded message; and hands-on introductions to new technologies so attendees get excited about what’s being pitched. Good feelings will manifest from creating memorable moments people can’t forget tied directly to your company brand.

The best companies have annual signature events that become opportunities everyone looks forward to during the season. Events often grow – people invite colleagues from other departments, word-of-mouth helps spread the good news about what’s offered, etc.

The Long-Term Impact

Companies that nurture relationships through live events see results manifested far beyond mere sales numbers. Good companies become thought leaders with communities surrounding their brands and networks through which powerful referrals manifest.

The investment pays off through strengthened loyalty efforts with clients who bond with your brand on different levels – better retention rates, higher average contract values – and most importantly due to the competitive edge they boast to an ease of replicating in a snap of a finger.

Live event relationship building takes time; it takes commitment; it takes patience and consistent value-driven offerings. But companies able to master this breed deeper, more meaningful relationships worthy of sustained effort regardless of economic climate.

Those businesses ready to thrive recognize events as strategic relationship-building investments over simple marketing expenses. When empowered with insightfully orchestrated live activities, they create a human connection unlike any other for business success down the line.