Event Venues & Planners: How to Achieve the Best Event ROI Together
Every event is a little success story of its own. Whether we think about corporate events or conferences and exhibitions, each format has its specialties, usually requiring a great amount of organizational efforts and operational excellence.
While format and size of the event may vary, the people "behind the scenes" work hard to deliver smooth events over and over again. Event planners are said to have one of the most stressful jobs in the world.
Event venues play a crucial role in the event industry, too. However, both venues and planners pursue the same goal of satisfying their clients and establishing long-lasting relationships with them. But what about the relationship between venues and planners? In their mutual effort to deliver perfect events, being customer-centric and achieving the best possible event ROI, they should learn to cooperate and support each other in the best possible way. This will ultimately serve both parties.
Communication builds trust
A successful cooperation requires good communication in the first place. Furthermore, transparency is essential to build trust. Venue sales teams should give planners a clear overview on costs and be transparent about their offers. Professional proposals and invoices along with price transparency are a good foundation to a successful business partnership. In addition, smooth workflows among the business processes – even across companies, i.e. from venue to planners and vice versa, help to optimize sales and operations dramatically.
Time constraints on the salespeople's side certainly are a threat – but with the right CRM and sales system in place, proposals can be generated and sent to clients in less than a minute. This prevents salespeople from spending too much time on proposals and getting frustrated when the client chooses a different venue or hotel.
Three common goals, one partnership
The following three areas should serve as a common basis of goals for event venues and planners, ultimately contributing to the best possible event ROI.
#1: KNOWING ATTENDEES
Knowing and understanding attendee expectations are key requirements to deliver great events. More knowledge equals more power over marketing activities. Venues and planners should exchange experiences and think of most effective ways to speak to potential attendees. Venues can support planners with marketing activities on their website and social media channels, for example. The better the reach, the higher the probability that people will register.
- Listen to clients
- Consider creating buyer personas
- Allow for different ways of information consumption across different generations in your target audience
- Target the right people and choose the right marketing channels
- Choose the right event format and sit down to discuss required infrastructure/furniture to make it a success
#2: LEVERAGING TECHNOLOGY
Being professional and state-of-the-art is a great selling point for venues and planners, especially for young target groups. Venues that allow for new technologies make themselves attractive for a variety of new event formats.
- Offer an interactive show guide with matchmaking capabilities
- Facilitate indoor navigation, registration and promotion possibilities with NFC and beacon technology
- Consider Twitter walls
- Work with audience response/engagement tools
#3: WORKING ON THE EVENT ROI
Seeking the best possible event ROI is in both parties' best interest. Together you can elaborate KPIs and goals that are easy to analyze afterward, ultimately serving as a basis for successful future events that you deliver together. Especially digital platforms, NFC and apps allow you to collect large amounts of data. This is extremely valuable as it allows you to get a better picture of your attendees, leading you back to #1: KNOWING ATTENDEES.
Try to define together:
- What should be measurable and how do you make it measurable?
- Quantitative and qualitative goals
I will share more examples and best practices with you at International Confex. Join my session “Service excellence through collaboration: How Venues and Planners Can Support Each Other” and meet me at stand #D11T in the EventTech area!