Types of Corporate Events Every Business Needs to Know About!

Corporate events are an easy opportunity for companies to engage not only with their employees but also with their customers. There are several types of events that are organised to fulfil a variety of business goals. In this article, we explore the most common types of business events that can take your company to new heights:

Events organized by a corporate tend to have several goals. Still, the primary objective of such team activities is to communicate the company’s strategy, discuss internal company issues, announce product launches, influence customer or partner behaviour, or motivate and reward the employees for excellent work ethic.

The purpose of preparing for these team-building activities is to bring employees together, incentivize them, connect senior leaders with the workforce, bring partners and sponsors together, and support marketing initiatives to scale the business. They also offer abundant networking opportunities. Hence, learning about such business events can provide organizations with the key to planning successful team-building exercises that are sure to impact the business positively.

 

Types of Corporate Events:

 

There are different kinds of business events, and when planning to execute them efficiently, it is best to approach them, keeping their size in mind. Let us explore how:

 

Micro Events:

Planned for a group of over 100 attendees, these events take the form of meetings and internal training. Planning such events requires minimal infrastructure like a meeting room, presentation tools, and refreshments. Slightly larger events like seminars and conferences also fall under this category. Event planners need to efficiently manage an itinerary for several days, including online registration, several sessions, lunch and refreshments, audio-visual tools, and even transportation. Though smaller in scale, offering hospitality for such events can be complicated. Sometimes, partnering with experts like our MICE team can help take the pressure off and deliver a memorable event that helps achieve overall organizational goals.

 

Mid-size Events:

These events rely more on technology and take the form of company-wide corp meeting, leader summits, or conferences with up to 1,000 attendees. The budget for such events, therefore, also requires special attention. Pre-event invites and communications, and other marketing initiatives to promote such corporate events must also be part of the budgetary considerations. Hotel accommodations, transportations, venue sourcing, event reception, entertainment or team building activities, are all part of the complex itinerary planning. Given the scale of such events, expert MICE organizers can easily take care of end-to-end planning, management, and execution, delivering a powerful event. 

 

Large-scale Events:

These are multi-day events that include corporate offsites, partner events, events for incentives, corporate dinners, and more that often require a complex itinerary. They usually require enterprise-grade management and technology tools to take care of the event organization. Several vital elements like hotel accommodations, flight bookings, budget and expense management, among other things, need to be managed minutely. Corporate event management companies like our dedicated MICE team offer their expertise in registration, staffing, catering, organizing, and managing conventions of this scale with ease.

Additionally, for events that involve external stakeholders and partners, there is a need to plan in advance as opposed to internal company events. The scale of these events requires extraneous planning and execution that can be better achieved with the help of expert MICE organizers that excel in catering to the requirements that such events a success!

Also Read: Corporate Events - The Best Business Guide

8 Common Corporate Events:

 

In order to fully understand what these corporate events are, it is imperative to know about their different types. So, here is an in-depth analysis of some of the most popular business events:

Seminars and conferences are meant to educate company employees and potential customers, much like a workshop. However, unlike workshops, these events tend to last several days. While conferences are organized for educational purposes, seminars are more consultative in nature. Conferences even have multiple speakers that the event company contacts to offer their expertise in a formal setting. Businesses should consider organizing such events to generate more leads and introduce more people to the products and services provided by the company.

A corporate retreat is a company-sponsored event that encourages team bonding. It is meant to break the monotony of routine office work. However, it can even be organized to invite customers. This event lasts several days and includes many workshops and seminars that can be educational for the employees. Even though it is meant to rejuvenate the employees, it can also help them learn, plan and strategize to achieve important goals. Experienced corporate event management teams like our MICE organizers can help visualize and plan interesting activities that especially cater to the employees, enabling them to learn and make cherishable memories.

Such events are hosted by businesses as a part of the incentive plan and are meant to reward their exceptional employees, customers, suppliers, and other significant stakeholders. It is a celebration to honour its best performers in a specific period and offer them incentives. A facilitation event, thus, basically rewards the top performers for their hard work with certificates and awards. These types of incentives are offered to improve their morale, but they also allow businesses to promote themselves as a widely loved workplace within the industry.

These kinds of business events are organized when a company hits its revenue goals, celebrates its anniversary, or similar milestones. They are similar to a teams meeting but larger in scale and for the entire company. The scope of such events is extremely dependent on a company's size and nature but largely follows the same structure as a felicitation event. They are put together to thank the team for helping the company reach its goals, but they sometimes even have vendors, customers, and other community members in attendance.

This corporate event is a celebratory event meant to create noise regarding the launch of a product, a website, or even a company. They announce a new product or service to the public, informing potential clients as well as the media about the said product. These events can therefore be tagged as awareness events that are meant to create brand recall in the minds of the people attending the launch or getting to know about it through print, electronic or social media.

These events are organized to boost the employees' morale and encourage them to collaborate. They are meant to teach employees how to work together to enhance their productivity and achieve favourable results. Companies organize these collaborative events to allow employees to spend time together in an informal setting. Solving complex problems through entertaining corporate team building activities is the best way to ensure team bonding.

Trade shows are organized to promote the products and services offered by an enterprise. Hence, this kind of event caters mainly to two groups of people, namely, promoters and potential customers. It is an easy way to connect the two with each other. These are large-scale events that are held in large spaces. Several big brands pay for a good spot, advertising as well as the potential to connect with future customers.

A shareholder meeting or board meeting is organized for the company to present its business strategies, operational performance, future objectives, and more to the shareholders. Based on the number of shareholders, the organization of these events can differ from a small business meeting to a large-scale event. They must be organized to ensure the least interruptions and complete confidentiality. They are primarily organized to ensure that the shareholders' faith in the company remains intact, and the company gets their constant support.

Organizing business events and offering incentives to employees and customers is an integral part of the business strategy and can take it to new heights of success. However, they are not as easy to plan and organize, and seeking industry experts' help can remove the stress of bringing your vision to fruition. Our MICE team is well-versed in helping clients achieve hassle-free execution of such corporate events. You can filter and choose from our curated list of options or customize events to suit your needs, all with a few simple clicks! So, explore and learn more about our MICE team here!

 

Frequently Asked Questions (FAQs) 

Q1. What to keep in mind while choosing a venue for seminar? 

Ans. Keep the budget, number of guests, audio-video and computer equipment available, lighting, proper room setup, and more in mind while selecting a venue for hosting seminars. 

Q2. What should be considered while planning the budget for conferences?

Ans. Organisers should consider the cost of venue, catering, logistics, equipment, transport, entertainment, and printing among several others while planning for conferences. 

Q3. Can a virtual meeting be considered a corporate event?

Ans. Yes, in the digitalized era, different corporate events can be organized virtually to allow participants in far-off locations to also attend the events easily.

Q4. What are the best non-monetary incentives for employees?

Ans. Rewards and recognition, experiential rewards, extensive trainings, and flexibility at work are some of the best other than monetary incentives for employees.

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