You said:
Like I said above about my department where I work. We spent in excess of $100,000 on Hurricanes hockey games to “entertain” clients and potential clients. We get more bang for that buck than our marketing department ever would. That investment generated millions in new business for us during the season.
Response:
I realize that I am in the minority and will get blasted for saying this, but I think this is form of bribery. And that Greed will be the downfall of our society.
A free enterprise system should be based on the value of a product or service, rather than on bribery. Supply and demand based on the best quality for the best price. Not influenced by blackmail or bribery. That is not a free enterprise system.
Bribery? HA! Like a guy is going to move millions of dollars over to me because he got a $100 hockey ticket if another guy has a better deal for him. Or someone is going to do a $10MM loan for $100 ticket that will cost him tens of thousands of dollars more compared to the next guy. Sure.
Its all about spending time with them and getting them one on one for an extended period. No business owner can cut 3 hours out of his day to sit down and talk. But he can go to a hockey game, or play a round of golf on the weekend.
And more often than not, its a big "thank you" after the deal is done and referrals are pushed.