Last Updated on February 21, 2023 by Tabraiz
The Event planning industry is one of the most dynamic sectors with a good return on investment. The industry has undergone exponential growth in the last decade, providing investors with new investment opportunities and increased revenue. With the industry still growing, you should expect to see new players giving you a run for your money. You need to adapt and develop new strategies to help you stay relevant and land new projects. Below are five unique strategies you can employ to help grow your event business.
Engaging Your Target Audience
The event planning industry is about networking and meeting people across multiple sectors. To get ahead of your competition, you should join your area’s Chamber of Commerce and attend their meeting and events. These meetings offer a unique opportunity to meet potential customers as well as competition. Regularly engaging with your potential audience can help open up engagement opportunities; who knows, you can be contracted to plan and organize the net Chamber of Commerce event.
It’s also advisable to constantly check if your website and social media handles are engaging, especially when promoting some of your past events. By actively engaging your audience, you can get an overview of what they want and need and how you can restructure to meet current demands.
Diversify Your Offerings
Your entry into the industry was marked by a specific niche, for example, weddings, anniversaries, or office parties. However, for your business to grow, you need to diversify, regardless of the success in the niche. Conduct market research and analyze other opportunities in your area, including seminars, workshops, brand launching, or even corporate meetings.
In diversifying your offers, you should consider including new product lines, including selling decoration material, stages, and even photo booths. When designing your packages for events such as weddings, anniversaries, and birthdays, you can include a mirror photo booth for sale in your offerings. This way, you can make the event not only exciting but also memorable.
Diversifying your portfolio will allow you to learn and gain experience handling other projects outside your scope. This way, you can grow your event business into the next chapter.
Leverage Digital Marketing
Today’s generation is highly dependent on technology to run their daily programs. This means that the best way to appeal to and reach the modern population is through digital platforms such as social media, search engines, emails, blogs, and websites. To stay relevant and grow your business, you need to establish a digital profile that resonates with your target audience. You can achieve this through a digital marketing approach focused on visibility and engagement across all platforms. Some of the best options include online and email marketing.
Invest in Informative Brochures
Brochures may seem like an old-school approach to marketing your event business, but they can be a very effective marketing tool in the long run. A professional, well-designed brochure helps speak to your potential client without you being present. It also paints a picture of a professional with industry knowledge, which can help convince prospective clients to consider your services. When designing the brochures, include all the information on your business card while expounding more on your offerings and highlighting your previous projects using photos.
Make sure your company’s brochure matches your type of business. For example, if your target audience is budget sensitive, you may want to dial down on the flashy and glamorous brochures. Something simple but professional can help convince them to work with you.
Improve Customer Service
Customer service is the lifeline of every business, as it determines whether a client will refer your business, return, or write negative reviews about your services. To address this issue, you need to work with personnel who are customer oriented and are ready to work with the client to realize the client’s vision. You should also constantly research some of the best ways to boost customer service without causing too much strain on your business and employees. This can also be achieved by benchmarking other events, investing time with an industry consultant, joining trade organizations, and attending multiple arts-related functions.
As mentioned, the event industry is dynamic, with new players entering the field annually. As an entrepreneur, you need to be flexible enough to adapt to the current demands and be willing to learn new approaches. This way, you can effectively reach out to prospective clients and secure projects.
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