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| Budgeting for Events |
| Quality not Quantity, it's what counts |
Event Management
(Copy article for Business MK, January 2005)
When I sat down to write this first article Gordon Brown had just made his Budget announcement and regardless of what good fortunes he reveals (sic) there is always that sharp intake of breath as to how this will affect our businesses. Also, as this time of year is popular to determine budgets for the coming financial year, what better than to look at ways to get value from your events, for this first article.
To start with, no event should be planned in isolation – it should be part of the overall marketing, PR and communication strategy. Also understanding your invitees, or delegates, and managing their expectation is crucial to the success of their experience of the event, which has an immediate effect on the value of the event to you.
I’ve seen so many companies say its about time they held “an event” without any forethought regarding its objective, the message they want to deliver, how to measures its success or how it affects any other marketing activities. “Having to juggle a plate, a glass and the napkin does not make networking and chatting an easy task”
IMPACT
One particular large financial organisation gave each of its six teams an event budget and, through lack of communication, in one week there were a total of four events held with some clients invited to attend all the events and little else any other time of the year.
You could argue that it created impact (well Yes the clients were pretty shattered by the end of it!) but with more communication and planning it could have meant a series of events giving the opportunity for more contact with clients.
Disregarding logistic, the three elements to any event are the venue, the food and some form of “entertainment”, and regardless of your budget, how you present these is crucial to its success.
MEET
With a tight budget there are many low cost venues available or why not use your own premises. If it’s clients you are entertaining why not try an Open Day and let then see how you operate, let them meet all the staff not just the key managers – if handled well with staff being briefed as to their role, it’s a great relationship building exercise.
If it’s an early evening event people are not expecting a full meal. Some of the most memorable events I’ve attended as a guest have been where the food has been unusual finger food, often following a theme. It’s quality and not quantity. Having to juggle a plate, a glass and the napkin does not make networking and chatting an easy task. Get catering staff to move around the room to serve the buffet from trays.
The third element is entertainment and by this I don’t necessarily mean a magician or a comedian. Although you don’t always need entertainment – you do need a reason for people to attend. Those events which have a “hook” are those we are more likely to accept. It could be a well-known speaker or a subject of particular interest; an activity with a new experience or something done before and enjoyed.
If budget is no object it does not guarantee a successful event. In fact far more thought needs to go into the planning and logistic for moderate to high budget events. Much more is at stake if it fails and it’s not just the cost of the event.
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| Key Points |
 - no event should be planned in isolation – it should be part of the overall marketing, PR and communication strategy.
- understanding your invitees, or delegates, and managing their expectation is crucial to the success of their experience of the event, which has an immediate effect on the value of the event to you
- three elements to any event are the venue, the food and the “entertainment
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