Strategy Pre Event Planning – Event Strategy – Budgeting and financial planning – Meeting Architecture – Hybrid v Virtual events - complementary or a potential alternatives? – Programme design – Return on Investment
Event Strategy -Every event should be treated like a small business, with -A business case -A Strategy -A budget (income and expenditure) -A project plan -An ongoing analysis through the phases of the event
Business Case Before any event is planned one should; 1.Define the Objectives of the Event Profile Education Employee benefit Networking Fundraising 2.Define the measurement criteria for success Attendance Engagement Profile Profit 3.Define the tools to measure those criteria Increased Attendance – Registration Reporting System/Leads Tracker Profile - PR coverage Profit – Robust Accounting Systems
Business Event Types Conferences Congresses Team Building Events Incentives Sales Conferences Client Conferences Training Educational Seminars
Strategic Plan Aims – Internal, External, Goals and Objectives Planning – Budget, Data Execute – In house v supplier – Information, Communication – Sales – Customer Service Monitor Progress Analyze Results Develop
Event Strategy -7 Habits of Highly Successful Events -Be Proactive -Begin with the end in mind -Put 1 st things 1 st -Think Win-Win -Seek 1 st to understand, Then to be understood -Synergize -Sharpen the saw
Budgeting and Financial Planning Re types of Expenses – Tangible Expenses – Promotion and Communication – Time!!!
Budgeting and Financial Planning Conference Income Budget Actual Registration Fees£10,000 Sponsorship£50,000 Exhibition£50,000 Other£35,000 TOTAL£145,000 Conference Expenses Venue£25,000 Catering£50,000 Web, Print and Promotion£50,000 Staffing£5,000£10,000 Contingency£10,000£10,500 TOTAL£145,000£150,000 Profit/Loss£0,00£-5,000
Event Costing One should recognise the cost of all resources associated with managing the event! Many organisations do not consider the efforts/time of their staff.
Every Event Should be Profitable? Unaccounted Costs Part time CEO – 50% on Conference Admin Assistant – 85% on Conference Results are; Unprofitable Congress Huge amount of effort Distracted CEO £0 Profit or - 0% growth
Event Development Objectives Confere nce Incenti ve Event Type External Speaker CEO Report Content Frontal Presenta tion Round Table Meeting Format Webcast Webinar Satellite Event Live, Virtual or Hybrid