Well, at least the question for today.

Speaking as a person who annually dreaded planning for her kids’ birthdays, it’s not surprising that I have never thrown an in-person client event.

I think about it. My fantasy self is a person who throws fabulous celebrations. My real self is the person who at 35 said I’d through a huge joint birthday 40th birthday party with my husband, and at age 52, still am thinking about how I might pull it off.

My complete inertia aside, I have many friends in the business who have used in-person events to help grow their client base and solidify current customer relationships. What are the pros and cons?

If you are a party planner by nature or have the good sense to have one on your team, here are some great outcomes from throwing client events:

Personal Connections

There’s nothing like shared experiences to strengthen relationships. “Remember that time the waiter dumped cocktails all over our Alan the Advisor’s lap? Joe Client had to loan him his gym shorts from the car so he could stay at the restaurant!”

Increased Engagement

In-person events typically generate higher levels of engagement compared to virtual alternatives. Attendees are more likely to be fully present and attentive, free from the distractions that often plague online meetings.

Networking Opportunities

Regular in-person events can create friendships among your client base. You’re not just an investment advisor but you can connect clients personally and professionally. Wow, who would ever change from that advisor? No one!

The social atmosphere can foster a sense of community among your clients, strengthening their connection to your firm. Once, I even discovered a distant cousin who was a client of an advisor friend at a client event.

Brand Building

Hosting classy, informative events can boost your brand image and position you as an industry expert. The all-in feeling at an in-person event allows you to showcase your expertise, professionalism, and company culture in a way that's difficult to replicate online.

But is it all wine and roses? Because those things get pricey!

Higher Costs

When kids’ birthday parties start at the $500 price point for bad pizza and coin-operated games, imagine the budget for grown-up events! Costs can include venue rental, catering, equipment, and potentially travel expenses for out-of-town attendees.

Unless you are just in it for the feel-goods, you want to look carefully at the return on investment for these events.

Logistical Challenges

Do you have the staff or the time to manage the logistics of offering a good event? Site selection, catering, audiovisual equipment, and even potential travel arrangements can be stressful and time-consuming.

Limited Reach

Unlike virtual events, in-person gatherings are restricted by geographical constraints. This limitation can make it difficult for clients or prospects from different regions to attend, potentially reducing your event's overall impact and reach.

Plus, online events can be recorded and posted on your website, increasing SEO and reaching people long after the event.

Time Commitment for Attendees

Attending an in-person event requires a greater time commitment from your clients. They need to factor in traffic, donning real pants, hiring a babysitter, and whether their favorite sports team is on TV that night. All of which might lower attendance.

So, while in-person client events offer the opportunity for relationship building, they are a lot of work and cost.

Firms can be successful without putting on elaborate events. Smaller in-person learning opportunities, regular webinars, or even a consistent newsletter are all options for those without a party planner or large budget.

To Event or Not to Event? That is the Question.