As an event planner, you need to hope for the best but prepare for the worst. These practical steps can help create an event strategy that will make a world of difference in the way you manage your events and the experience your attendees will take away.
We consulted with Pacific World, a global destination and event management company, to find out what are some of the key considerations that are vital in the world of event planning in 2017.
As budgets tighten, focus on producing meaningful events and say no to events that could potentially burn your team members and budget out. Ensure that the person who proposes an event (especially if it is a new event) justifies the need with key objectives and assists in identifying and reaching out to the target audience. If it is a repeat event, assess the history and identify any key concerns from the one before.
It is also important to check on possible clashes with competitor events for the proposed date of your event before locking in your event date. You would not want to be competing for the same audience. This could also happen even if the two events are a few weeks apart, as people generally do not attend two of the same type of events over the same period.
This has probably been said many times, but understanding your target audience and why they have been selected will help define your strategy and goals.
Identify the tools you can use to determine the targeted demographics’ behavioural patterns and what is important to them. If they are environmentally conscious, consider using projection screens as backdrops and exhibition suppliers that are specialised in alternative booth ideas and re-purposed/recycled materials.
Information obtained – whether through a focused group or previous surveys done – on attendees’ expectations and engagement factors will help design the event experience for them.
Whether you would manage an event yourself or require the services of an external resource, such as an event agency, depends on the scale and complexity of your event.
If an agency is needed, define the scope of work you would like the agency to cover. Can the agency manage all scopes of work given? If not, source and budget for the number and types of agencies that can fulfil that need. Use a list of questions and tasks that you are not able to complete to assist in finding the correct agency/agencies to fill that gap.
When developing the budget, consider the following:
Revenue, expenses and variance are three crucial aspects of budget performance that should be monitored throughout the planning process. Firstly, key performance indicators for revenue targets should include volume and pace of sales. Secondly, expenses should be monitored fortnightly, starting from six months before the event and more frequently as the event date draws closer and the budget gets lower. Thirdly, understanding the variance in budget will allow relevant decisions to be made. This may range from political policies to an undersupply of an ingredient, causing the price of it to increase.
For more event planning tips, destination and venue insights, register for the 2017 Biz Events Asia Planners’ Guide. Click on the below image to get a *free copy now.
*The print edition is free to business events professionals based in Asia only.
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