Hosting events is a great way to boost your income as well as expand brand awareness. If you enlist the right people to work with you on organizing and planning the event, and you understand your audience you’ll be able to create an event that is a money maker on its own but is also a money maker later.
Know Your Objective — Do you want to sell more widgets, books, coaching, or something else? Do you want the event to be the main money maker? What are you trying to accomplish for yourself by having an event and what will your attendees get out of the event? What’s in it for them and why are you the one to do it?
Define What Success Means to You — Before you can determine if your event is successful or not you need to define what success means to you for this event. Is having a large turnout imperative? How about after event sales of books and/or services? What will make the event worth it to you?
Understand Your Target Audience — It’s important to know going in, who your audience is so that you can create a topic that will excite them. Who do you want to come to your event? If you know who you want to come, you’ll be able to tailor make the event just for them. Plus, you’ll know exactly who you want to invite to speak at your event.
Create a Working Budget — It’s true that most of the time you have to spend money to make money. Therefore, create a budget and work out what exactly has to happen for you to break even on this event. Remember to include all aspects of the event such as various technology, the venue, and marketing.
Create a Workable Schedule — Give yourself time to plan, organize and market your event. Schedule the event 60 to 90 days out so that you can plan effectively. Many factors go into creating a good schedule for your event including the venue, what time of year it is, and what days of the week and times are best for your particular audience.
Market Your Event in Multiple Ways — Most marketing starts with your website and your blog today, but don’t discount other methods too such as radio advertising, newspaper ads and you can even include flyers and posters. You want to start well in advance creating buzz for your event. You can do this even before you have the theme, topic, or date by including your audience in some of the choices by sending out polls on social media and your email lists.
If you want to start hosting events as a new revenue stream in addition to the other products and services you offer your audience it is a very lucrative thing to do. It takes just a bit more planning than other products but the difference really pays off in the end. The money you can make hosting successful events is only part of the perks because as awareness of your brand spreads you’ll continue making more money long after the event is over.
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