- Sushil Wadhwa
Business Events & MICE as a growth tool
Updated: Apr 23, 2022
An event is a Business event when companies organise events to interact with more customers and other professionals at a certain place. Business Events or MICE are fantastic as a growth tool for the overall business for the largest and smallest of companies. As they help get their clients, stakeholders, employees etc under one roof for an evening or multiple days and help recognize and reward their top achievers in a magnificent setting. This is turn motivates their audience to perform better and help the company grow.
One of the Best Event Management Agency’s is Platinum World Events, that pioneered the concept of MICE and Incentive Travel from India. They have successfully planned and executed thousands of Business Events & MICE Projects for the Fortune 500 Companies in 80 Countries delighting over half a million guests.
To have a successful event, we must focus on the planning of organising an event as it is important to execute an event with a plan. Without planning and visualising, we will not know what we want and the conclusion we will have. Some of the necessary things we should have in mind are as follows:
Make sure about the topic/objective of the event. Discuss with other colleagues and be clear about your Objective.
Make a budget for the event. Take into consideration all the things it will cost and, more importantly, how you will cover it.
Consider everything in mind that will affect the number of visits to your event. Like the entrance fee, a day the people will be free to attend your event and the timing.
Get the publicity out earlier as it will make your audience make sure to be available on the day.
These are some of the basic points to be ensured for the event. Now, we will discuss a growth tool for events called MICE.
What is MICE?
MICE is becoming a more and more important feature of a business and other factors due to the economic increment. MICE stands for meetings, incentives, conferences, and events/ exhibitions. These are the types of events and are described below:
The very first type of event is meetings. Meetings are gatherings of some people to discuss a topic or some business deal. It can be held anywhere, in an office room, in a hotel room, or at any place with the convenience of sharing details about the business. Of course, you have to be preventive and problem-solving and should always start on a positive note.
Incentive means something that encourages you. Incentives include a reward which can be anything like a trip, fun gifts, profit sharing, or extra money offered by the company to a person or staff for their excellence in the work. The incentive is another way of saying thanks by which the company encourages its colleagues to work with the same or more efficiently they are operating.
A conference is a large official meeting of a company with people more than a meeting to discuss the important matters about the company's business. It can last for more than one day to address solutions and presentations of business and research about new understanding.
An exhibition is an occasion where the collection of a particular skill, product, or business is displayed to the public. It includes the presentation of the expertise or occupation. At an exhibition, visitors and exhibitors are much greater than at meetings or conferences. The people here come from anywhere around the world. Exhibitors come to show their products or services to the visitors as it influences people about their business and attracts more networks.
These were the four main types of MICE that work as a growth tool for your business events and result as the best.
To conclude, Business Events and MICE are sure shot tools will boost your business.
Contact Platinum World Events to know more!