Ramp up the event revenue strategy
The end of an event is the ideal time to start building or ramping up an event revenue strategy for the next one. Existing and former commercial partners are key for a successful sponsorship and exhibition acquisition strategy, so maintaining and nurturing those relationships is essential. Towards the end of an event, start discussions about their involvement in the next one to maximise returns year-on-year.
To build a group of loyal delegates, start by drip-feeding teasers about the next event. For all event revenue strategies, partner with a PCO that can provide live analytics of event metrics throughout the event journey, such as registrations, sponsorship and exhibition sales and marketing activities, to easily track and maximise peak revenue opportunities.
Measure the event legacy
Post-event is the time to measure and assess the legacy objectives set at the outset of planning. If you didn’t set any, then set some for your next event. Legacy may seem difficult to encapsulate, so setting measurable goals is a must. For example, for gender equity, consider setting 49-49-2 targets for your speaker line-up or organising committee representation. Social and environmental impacts can also be assessed with tangible goals.
For example, the Environment Institute of Australia and New Zealand (EIANZ) 2018 Conference committee aligned its objective to host an environmentally sound event. It chose the carbon calculation and purchase of credits to achieve a carbon-neutral outcome at zero financial cost to delegates, and waste reduction initiatives that led to a 70% reduction in printed materials on-site. These measurable goals helped convey the legacy story for EIANZ and brought all attendees and stakeholders on the event journey.
Other legacy objectives could relate to social outcomes, industry collaborations and research breakthroughs.