Strategic Event Planning: Gearing Up for a Greater ROI
Developing a successful event starts with creating a plan by working closely with a management team or board, as everyone needs to be committed to achieve the goals they have set. And while there are a number of differences between planning a corporate retreat, an annual gala fundraiser, or an industry conference, they share many of the same challenges that need to be met with solutions designed to generate a better ROI.
This month, our Hospitality Resource Group newsletter looks at the differences and similarities of various types of events, the importance of planning, and the results you can achieve through sound strategic event planning.
We look forward to hearing from you about this month’s topic or others you may be interested in, and invite you to Follow us on our HRG LinkedIn Group page. And, in case you missed them, we have posted past editions of our monthly HRG newsletter on our web site at HRGinc.net.
Wishing you continued success this Spring!
Regards and best,
Robert O. Sanders Jr., CMP
Founder and Chairman
Hospitality Resource Group, Inc.
Event Planning Strategies: Different Paths, Same Destination
There are many types of events that come with different goals that we measure against to determine their level of success. Some events are designed to generate a profit, while others may provide an educational experience, or serve as a launching pad to establish or build a brand. What they have in common is the need to generate a positive return from the resources aligned to support them.
When we compare not-for-profits and private sector businesses, they have different resources at their disposal that they can apply to achieve their goals. These are usually impacted by the size and scope of the organization, their level of funding, and the direction and focus of their leadership. Consider some of the key assets that are available to event planners, depending on the type of organization they work for:
- Multinational corporations or national companies typically have more financial resources to execute their plan than regional businesses or not-for-profits
- Large businesses can leverage more experienced personnel, while not-for-profits depend on significant contributions from volunteers, donors, part-time workers and interns
- Although not-for-profits have boards that push hard to achieve their fundraising goals, corporate event planners and management teams are likely to face more short-term pressures to produce results
- Corporations can select from a wider selection of venues, as they are not limited by locale, while not-for-profits are more often limited to regional venues based on the proximity to local fundraising bases
- Larger companies are more likely to be able to create a “wow factor” booking (ranging from a Lady Gaga or Derek Jeter appearance to a circus act), or over-the-top design
But when it comes to achieving their goals, these different organizations share the same overarching goal: to generate a higher ROI, year after year. The question is: how?
Strategic Meeting and Event Management: The Secret Sauce of Success
The key to developing a successful event is to engage in a year-round process, working closely with your core management team or board. For high profile events, a growing number of organizations have pursued a Strategic Meetings Management (SMM) approach to help them in their planning to generate an improved ROI.
SMM has been proven to drive significantly better results in a variety of areas, including:
- Generating a net profit
- Creating a significant “buzz” for a brand that leaves a lasting positive impression
- Providing a platform to connect with future clients and develop your database of prospects
- Expanding business relationships by engaging in creative interactive activities
- Conducting market research
- Influencing the media, financial community or investors
- Recruiting, educating and motivating distribution partners and employees
- Promoting support for your industry or community
HRG Event Solutions: Developing ROI Through Strategic Planning
It takes an experienced strategic partner to assess your situation and guide you through the development of a successful event. At Event Solutions, we have been working as a strategic partner with a wide variety of organizations, from national companies to not-for-profit leaders. A few examples include:
United Rentals- Event Solutions has worked with United Rentals on planning and producing their annual national supplier event in Minneapolis, MN, attracting over 800 suppliers and 1,800 managers to the Minneapolis Convention Center.
Lutheran Medical Center- As a leading academic and community healthcare leader in
New York City, Lutheran Medical needed to improve their ability to attract new donors and retain their base of supporters. Over the past seven years, the event has either met or exceeded their fundraising and attendance goals, as they have expanded partnerships and offered fresh and exciting event themes. HRG recently managed and produced an event at their Brooklyn facility for over 1,800 employees.
Other clients we have worked with as a strategic event partner include Paraco Gas, Pentegra, the American Diabetes Association, Today's Student's Tomorrow's Teachers, the Westchester Hotel Association, Guiding Eyes for the Blind and Opus Advisory Group.
"I have come to appreciate the work of Hospitality Resource Group as valuable partners. We know we can always count on them to be there for us, helping to plan events and create marketing and PR for The Opus Foundation, and for our firm. They are totally committed to quality in everything they do, and somehow exceed our expectations -year after year. We look forward to continuing our outstanding relationship with HRG, and would highly recommend them." Michael Perry, Partner, Opus Advisory Group
At HRG Event Solutions, the key to our success is to work as a strategic partner in planning and producing events that exceed their goals. Event Solutions has developed and managed high profile events for over 100 leading healthcare organizations, corporations, not-for-profit organizations, business organizations and higher education clients. Our team is totally committed to providing the highest level of service in event planning and execution, creating a powerful brand experience for corporate functions and not-for-profit events that educate, influence and impact their audiences.
Are you looking to gain an inside track working with an experienced event management partner this year? The HRG Event Solutions team is here to help you. For a no cost initial consultation on how you can generate a better ROI, call HRG Event Solutions at (914) 761-7111(914) 761-7111 or email email@example.com.
About Hospitality Resource Group
Hospitality Resource Group, Inc. (HRG) is a group of three vertically integrated companies, with over 18 years of experience in developing innovative marketing, training and event programs for businesses, education institutions, municipalities and not for profit organizations. HRG clients benefit from our proven ability to ignite market interest, engage consumers, and educate employees on how to manage and lead their companies to build brand equity, increase sales and improve productivity.
The HRG family of companies includes:
HRG has earned widespread recognition from leading industry organizations, including: