Here’s What You Need To Know When Planning A Business Event

Attending an event is a time commitment for attendees, so be sure to deliver on your promises.

Originally Published Oct. 9, 2017.

If you are considering planning an event, one often overlooked question to ask yourself is, “Why do I want to have a live event and what is the end goal or purpose of my event?” Event planning, without a defined and desired result, along with a specific plan of action to get there, is one of the biggest mistakes entrepreneurs make.

Vicki Irvin has successfully planned and executed the Extreme Women Entrepreneurs Event. Irvin has a ready-to-implement information for event planning:

Your event should support the purpose of your work or expertise, which often means bringing together like-minded people on the same mission looking for useful information.
Know your ideal dream clients and target them in your marketing plan to fill the room. If there is a mismatch in any way, the event will not achieve its goal.
Work with an event planner who is also an expert at venue/space negotiations. When you’re in the seminar business, getting your space as cost effectively as possible is crucial to your bottom line.
Identify all potential streams of income from the event because you can profit far beyond registration fees. There are product and service sales, as well as revenue shares with speakers who complement what you do while providing value for your attendees. Your stage is not a place to “test” out new speakers. To protect your brand, be sure to choose speakers who are proven professionals.

While all of the things mentioned are important, one of the hardest things to do is fill your event. A marketing strategy is needed in advance, along with ample lead time. For example:

“I start marketing my live events at least four to five months in advance, and I would suggest you give yourself even more time when possible,” Irvin said.

If you are new and don’t have a following, your event will start off smaller in size, which is perfectly fine. Focus on the quality of your audience versus the quantity. Even when you are established, filling a live event remains the top challenge. Just ask all the people who have had to cancel, or resort to giving away tickets.

Some of my favorite marketing strategies are Facebook advertising and live streaming about the event. Other strategies include holding webinars about your event to get people excited so that they know what to expect, and for them to determine if it is a perfect fit for them.

Profitable live events can be an excellent stream of income for your business when done right. You should ensure that everything you do when planning your live event supports getting you to your end goal. Attending an event is a time commitment for attendees, so be sure to deliver on your promises.