Events are one of the best ways to acquire new customers and grow the value of your existing customer base. But how do you ensure your event is worth the investment?
To deliver an event which will have a lasting positive impact on your business it is important to identify and follow these tips and tricks.
Define the event’s clear, concrete objective or multiple objectives. Before you begin planning, your organisation should agree on a defined purpose which will help foster your overall event strategy and goals.
Why has your organisation chosen to coordinate this event?
What do you hope to achieve from this event?
A defined purpose will provide you with a guide for the budget and assist with the critical decision making in the planning process.
Not only do you need to identify the desired event outcomes but you need to define how these results will be measured. Your organisation should set clear objectives and goals that can be adequately measured, not just outcomes based on opinion. Service may be intangible, but intangible shouldn’t mean unmeasurable. Decide what goals you are hoping to achieve and stick to them.
If the purpose of your event is to fundraise – how much do you want to fundraise? What will this specific amount achieve?
These measurable results will allow you to assess what went well and what can be improved for next time. This will also help you gauge an understanding of attendee satisfaction.
Once you have defined your events purpose you will most likely have developed an idea of who your audience or guest list is.
To help optimise outcomes for the event you should only invite individuals who you believe will actually benefit your business in the future, either past, current or perspective customers. Inviting the right people will determine the event’s immediate and long term success.
Revisiting your pre-established event objectives will help determine the number of guests and specific invitees.
Understanding who your audience and what they are looking for in this event will help you define your events location, size, budget and overall theme.
In 2016, 81% of UK businesses featured in-person events as a pillar in their marketing strategy. With an increasing variety of events on offer it is important to capture you market to promote attendance while also creating a memorable event.
Understanding your budget and sticking to it can make or break the success of a commercial event. Costs carry the responsibility of entertaining, intriguing, delighting and shaping the right mood for your guests. Your budget will dictate the scope and aesthetic of your event. So, you need to identify every potential line item and give it a precise dollar value: food, beverage, rentals, venue, entertainment, staff, marketing, etc.
If the budget won’t budge, you have some tough decisions to make. You may need to scale back on the guest list, revisit your venue selection or compromise on food and beverage offerings, depending on which factors are most important.
Knowing your audience, their priorities and values will help you asses where to spend your budget.
If you execute your event well, the consumer journey shouldn’t end when they leave the room. A successful event should allow your potential customers to learn more about your product and company, prompting them to investigate your services and collaboration opportunities.
To ensure you are making the most of your investment you need to capture this renewed interest and turn it into business opportunities and revenue. If a guest has expressed interest in your business at the event, follow up with a personal email or phone call, deliver relevant content which extends your conversation and encourages a service.
Also ensure to follow up with those invitees who didn’t make the event, ensure them that they haven’t been forgotten and you look forward to connecting with them soon in person.