Shoot fireworks, rent a rooftop with an incredible view, hire a hypnotist, have the director appear in a hologram, invite a star, design a personalized digital show... There is no shortage of crazy ideas in events, this magical world where everything (or almost) becomes possible... As long as the budget follows!
On this point, you know that the game is not won. Are you looking for concrete arguments to convince your management to give you the right budget, the one that will allow you to organize an effective and memorable event? You are in the right place!
1. Have a specific goal 🎯
An event should never be organized without a well-defined purpose. While “having fun”, “relaxing” or “having a good time” are valid arguments, they are still secondary and too abstract.
Above all, your event should: meet a business or communication objective : federate, create links, inform, celebrate, generate turnover...
You can draw inspiration from the reasons given in these two articles:
Once formulated clearly, This objective will be your breadcrumb during the meeting with your management. Orient your speech so that the budget is not used to “organize an event” but to “”. Your intentions will immediately be easier to understand and you will be more convincing.
2. Talk about ROI, not costs 💰
Instead of focusing on what the event is going to cost, talk about what it can bring.
In the simplest way, ROI (Return On Investment) is calculated as follows:
ROI = (what the event brings in/what it costs) x 100
Example: You think you need 50K for an event that can bring in 100K.
100/50 = 2 x 100 = 200
The ROI here is 200%
Of course, you will have to be able to justify what these profit estimates are based on.
Examples: decrease in turnover by X%, gain X € in turnover on the new product, increase in the employee satisfaction rate by X%...
3. Prove with A + B 👨 🏫
The statistics give credibility to your speech. They are also reassuring, because they are Proofs of what works, of what is expected, appreciated, usual, etc.
Here are 5 statistics that may help you unlock your event budget:
- 60% of employees say they consider internal events as a practice that contributes to well-being within their company.
- 95% of marketers agree that physical events offer attendees a valuable opportunity to connect in an increasingly digital world.
- 75% of content marketers said physical events are the most effective B2B marketing strategy.
- 72% of consumers say they have a positive opinion of brands that offer quality event experiences and 74% say that event marketing makes them more likely to buy the products they promote.
- The 5 metrics that marketers believe are the best for quantifying the value of the event are: new referrals and introductions; the quality and quantity of leads; the close of the deal; the value of sales; and opportunities to upsell and cross-sell. However, only 34% use these 5 metrics to assess the return on investment of exhibitions and events.
4. Show what the competition is up to 🕵️ ♀️
By taking the achievements of your colleagues as an example, you will skilfully touch the ego of your management. Because between us, Who doesn't want to do better than their competitors ?
Feel free to show photos of these achievements instead of just telling you. The effect will be much stronger. A simple and effective tip!
5. Explain the consequences of an insufficient budget 💔
What aspect (s) will you have to draw a line in case of too low a budget? A “wow” place that would have left an unforgettable memory? A quality caterer that would have made the taste buds drool? An attractive program that would have helped Reduce no-shows ?
If you can't answer this question, it's because you already understood that every facet of an event is important. In your speech, you should therefore focus on what you are likely to lose. Emphasize that this failure will necessarily have a negative impact on your event.
As with everything, Quality comes at a price. High expectations are not compatible with a low budget, especially when it comes to a tailor-made event.
Did you know that?
The aversion to loss is a psychological phenomenon that defines our tendency not to want to lose, even before we want to win. This could be explained by the fact that the loss has a greater emotional impact than that of a possible gain. We thus make decisions based on this fear, even if it means taking risks.
Bonus: Delegate to an agency 💡
At first glance, using the services of an agency to organize your event is more expensive than if you took care of it in-house.
This impression is erroneous since it does not take into account the time that you and your teams will spend designing your invitations, finding a location, hiring a caterer, choosing the activities, imagining and then installing the scenography, and coordinating everything...
The famous adage that says that” Time is money ” is particularly suited to the event sector!
The missions mentioned above and many others are part of the daily life of the team of The UNEXPECTED agency. We take pleasure in designing events for you that will surpass those of your competitors.
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https://www.maddyness.com/2017/10/17/infographie-afterwork-bien-etre-travail/
https://helloendless.com/event-marketing-stats
https://contentmarketinginstitute.com/wp-content/uploads/2015/09/2016_B2B_Report_Final.pdf
https://www.eventmarketer.com/wp-content/uploads/2016/05/2016EventTrackExecSummary.pdf
https://www.marketingcharts.com/cross-media-and-traditional/trade-shows-and-events-traditional-and-cross-channel-28915
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