Successful events deliver tangible rewards: sales, customer relationship building and (ultimately) retention. They improve brand awareness, complement other marketing channels and drive better staff productivity through effective engagement.
Outcomes are measured in two ways: the return on objectives (ROO) appraises the extent to which an event achieved its objectives. The return on investment (ROI) assesses a project’s value while comparing it to other marketing tactics.
Running an event requires a specific skill set: planning, budgeting, creativity and project management. A nous for marketing is essential, given events reflect a brand’s personality and values.
Some companies retain in-house expertise, carrying the head counts costs on the balance sheet. However, it is common for event management to be outsourced.
It is undertaken by third-party providers with the expertise, experience, systems and infrastructure to deliver effective events on demand.
Outsourcing works for companies facing challenges such as over stretched staff and tight budgets. In smaller organisations, event management is often entrusted to an individual, or team, for whom events are just one of a number of responsibilities. However events are time consuming and an untrained employee inevitably takes longer to drive a project than a specialist. Businesses that adopt a DIY approach risk compromising ROO and ROI.
Businesses that take events work with outsourced specialists because achieving goals and maximising investment is important. Failing to plan and deliver and engaging event can have serious repercussions for brands, departments and individuals. Collaborating with experts mitigates risk and lays the foundations for success.
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