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Event Budget an Issue in 2019?

Go Big or Go Home for a Successful Event Marketing Plan

Forget about the hindrances of realistic or achievable objectives.

We’ve analyzed events that had very unrealistic and not at all achievable marketing objectives and crushed them within minutes of releasing their tickets. If you are a strong marketing person, aim high. Especially with events, our task is not to throw a great party.

Our task is to change behavior, not move, educate, inspire, connect attendees. Realistic objectives translate into sad events.

Having said that, there is a difference between aiming high and being delusional. Avoid delusion by paying attention to basic event marketing dynamics. Once you take everything into account, you have to aim high.

1 – Document Your Event Marketing Strategies
You may have heard a goal without a plan or strategy is just a wish. The next step in successful event marketing is documenting your strategy. Documenting your strategy serves you in several ways.

It:

let’s you see each angle and logical progression in writing
ensures everyone knows the process and plan
gives you something to fall back on to consult for event decisions
helps you see and measure what is bolstering or impeding your success

2 – Establish a Strong Event Budget
Budgets are critical to event success and while social media and word of mouth have allowed event planners to stretch their budgets, neither of these marketing components have made event marketing free. It still requires spending and for that, you need a budget. 81% of corporate event planners surveyed said that budgets were a top priority for the coming year with a majority (54%) also stating ROI as a priority.

Most event planners believed that event marketing budgets would remain the same in 2018. 21% are confident that budgets will rise. Growth in the industry is evident with 44% reportedly having more clients than 12 months ago. 43% say the number has remained the same and only 12% report having fewer clients. Over half (57%) of event planners agree that budgets will be one of their biggest challenges this year.

So how do you go about creating a good marketing budget that will set you up for success? Try our speedy techniques for creating a solid event budget. We’ve even included a section for event marketing.

5 Tips for Creating a Successful Event Marketing Budget

Use historical data.
If this event has happened before, take a look at past marketing budgeting data, attendance, and other essential numbers. This helps in setting objectives and coming up with a plausible budget.

Plug in ‘must-have’s and luxuries’.
Add in everything you need to market your event and then create an addendum with things you hope to afford.

Become detail-oriented.
No detail is too small when it comes to budgets. Don’t forget to incorporate things like social media ads. We all want to believe our stuff will go viral but most of the time it doesn’t happen.

Understand where to spend your money.
Saving money on a budget is extremely important but so is spending money on the right things. Look into trends and understand what your audience is expecting. Go where your audience is and don’t worry about where they aren’t just because a marketing guru suggested it.

Analyze what your audience is likely to respond to.
Does early bird pricing get them registered or (historically) does offering a referral discount sign more people? Knowing what marketing tricks are effective for your audience is critical to your success.

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