
Having recently published the results of an online survey about planning and organisation strategies of event managers in 2010, the results have shown that event managers are planning to host more events in 2010 than in 2009 (Press Release: Event Planning and Organisation Will Increase in 2010).
This is great news, after seeing a two year period of steady decline in the event management industry.
Companies have now started to recognise that events which deliver clear & immediate opportunities back to your business are a great way of meeting this economic uncertainty head on. As a result events are back on the increase again. The industry recognises that it is change not cancellation that is required. These events need to be highly targeted, effective and low key and so we are now getting back to true business events and away from lavish ones.
However budgets are still under scrutiny and you are still expected to “spend smarter”, so how do you ensure you do this? From the outset the objectives and deliverables of the event you are hosting need to be clear. Why are you hosting the event? Are you trying to increase your ROI model? Are you creating product awareness? Whatever the reason may be event management can be used as an effective approach to tackle any economic uncertainty head on. Events can generate more revenue back to your business and sustain your existing customer base.
Over the last two years branding opportunities have been dropped in favour of activities that demonstrate immediate benefits, this means that face to face marketing and networking opportunities are among the easiest to measure if you have the right tools in place.
Being able to quantify results post event is imperative, you want to be able to accurately measure areas such as:
- Cost per delegate
- Overall event profitability
- Projected sales forecasts
You need to constantly review your event results and interrogate your data effectively to give you accurate answers. Good event software solutions can make the evaluation and reporting process simpler and more efficient. Utilising a fully comprehensive integrated reporting suite will provide you with the ammunition vital for securing sponsorship, additional budget and running a successful and profitable event.
Outside of venue costs one of the other largest area of expenditure is marketing, now is the time to review your approach. A reliance on direct mail is expensive and perhaps not as effective so why not try to move a substantial part of your campaign to email or promote yourself via social media sites.
Proper segmentation of your target market will enable you to produce highly targeted and relevant marketing campaigns. An email tool built into an event system enables you to produce branded, highly targeted emails quickly ensuring accurate, highly targeted emails are sent. An integrated email marketing tool will ensure you interrogate your delegate database and drill down to the core audience.
Streamlining and automating your events is essential and using event technology to do this will ensure you keep one step ahead when you are planning, promoting, organising and managing your event. Remember fortune favours the brave and although the future may look mixed there are many positives that can be taken. Organisations that are lithe, innovative and stay one step ahead of this unsteady economic climate will be sure to thrive. Investment and implementation of a cost effective solution, can be seen as a reactive approach to ensure survival.
If you would like more information on our event management software solution, evocos, then please contact us
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