5 Tips for Entertaining Clients on a Budget

The more competition you face in your market, the more important it is to wow potential and existing clients and customers. In addition to offering fantastic customer service and support, you may also find yourself in situations where you need to go above and beyond.

Entertaining clients has long been a preferred method for building positive relationships and rapport, but it’s often costly. How can you entertain without breaking the bank?

The Value of Entertaining Important Clients

Entertaining clients isn’t anything new; it’s been a successful business strategy for decades (and probably centuries). The goal is to take the customer or client relationship to a much more meaningful level than is typically developed via phone calls or emails.

“You want to be in an environment where you’re able to develop a deeper relationship,” says Carajane Moore, president of a large account sales consultancy. “The purpose is to get to know them better and further your connection.”

When you pick the right venue, everything falls into place. It’s the difference between a boring get-together and a long-term, beneficial meeting. The idea is to take clients into an environment that they ordinarily associate with pleasure or excitement. These types of environments favor relationship building.

But it isn’t all about rapport. Entertaining clients also has the dual benefit of instilling comfort and trust. By meeting with clients outside of the traditional work environment, you get a chance to show them who you really are. They’ll discover more about your family, hobbies, interests, and past career pursuits. This gives them additional reasons to trust you.

Cost-Friendly Tips for Entertaining Clients

Entertaining clients and sticking to a strict budget may seem like an oxymoron, but it’s entirely possible; you just have to take a different approach. Here are some tips for maximizing every dollar and minute you spend on building client relationships:

1. Set a budget. The problem a lot of businesses have is that they really should have a budget for entertaining clients to track expenses, but they usually don’t. Before you start brainstorming ideas and making plans, write down your budget and keep it nearby. Under no circumstances should you spend more than you’ve allotted. This will keep you honest and provide some boundaries.

2. Shop around. If you’re looking to take your client to a sporting event, concert, or some sort of other entertainment event, it may feel like you don’t have a lot of options. Prices can be heavily inflated, especially for high-demand events. Consider that, according to this infographic, the lowest price someone paid for a ticket to Super Bowl XLVII in 2013 was $2,387. While you may not be taking your clients to next year’s Super Bowl, you can find good deals on other tickets by shopping around at secondary marketplaces before making a final purchase.

3. Get the small things right. Because you may not have the budget for over-the-top gestures, you need to focus on getting the small things right. Wear something appropriate for the occasion, bring items with you that the client may need (but may possibly forget to bring), and always have a backup plan. The latter tip can’t be stressed enough. There are always certain variables that are out of your control, so ensure you have another plan in case of emergency.

4. Negotiate prices. If you entertain clients on a regular basis, it can help to have a go-to spot or option. For example, if you take new clients out to lunch once per week, it may help to use the same restaurant. Try negotiating with the manager and asking for a special discount price in return for your regular business.

5. Keep your receipts. Every dollar you spend needs to be accounted for. Keep any and all receipts so that you can go back and cross-check them against your budget at the end of the day. This will keep you honest and allows you to visibly see how much you spent and where you can further trim expenses, without minimizing the client’s experience. It also allows you to write off expenses when it comes time to file taxes.

While a client may not notice that you’re entertaining on a budget, they certainly notice when businesses entertain beyond their means – and it’s not always a positive thing. “Spending thousands of dollars is not necessary, and clients are looking at that and wondering why they’d take your advice if you’re not being fiscally prudent with your own funds,” says Moore.

Reap the Benefits of Budget-Friendly Entertaining

As you can see, entertaining clients isn’t about lavish spending or huge gestures. In fact, it’s the smaller, more personal things that stand out and make an impact. By remembering this truth and using the aforementioned tips, you can maximize your entertainment efforts and experience positive business benefits for years to come.