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Event Planning (Part-2)

 

  • Obligations: These are the compulsions on the guests like dress code or the knowledge of salsa dance.

  • Type of Entry: Decide how will be the entry. Entry will be by ticket, pass or through invitation only.

  • Favors: These are the gifts given to guests. We can give gifts to guests when they enter a party, when they win a game or when they leave the party.

  • Entry fees: What will be the entry fees? If you are going to charge entry fees, then be prepared to pay entertainment tax. Your entry fees should be according to your target audience's status. If you overcharge you won’t get any audience.

  • Event Highlights: These are those activities which you do to catch your taget audience and media's attention. Like inagrauation of your fashion show by Tom Cruise, performance by Latin singer shakira or display of the world most expensive car etc.

  • Promotional Campaign: How you are going to promote your event, organizers, sponsors, partners and clients pre-event, at-event and post-event.

  • Programe Menu: It is the list of various activities that will occur as a part of the event. Sample Programe Menu of a Conference.

  • Event Budget: To determine your event budget find out what will be the cost for producing and marketing the event. To determine production cost, create a list of logistics used in the event and then sum up there hiring/usage cost. You can determine marketing cost on the basis of historical data like past advertising expenditure for same or similar events.If you are a first timer, then take help from an ad agency.

    On the basis of production and marketing cost, determine your operating cost (i.e. cost to run the business). On the basis of operating cost decide your own fees and the staff salary. If you are organizing event for a client, then the client will bear the production and marketing cost of the event. If you are organizing your own event then you will bear the production and marketing cost. As an event manager, you must be able to recover your production, marketing and operating costs plus you must be able to make considerable profit also. Developing event budget and managing cash flow pre-event, at-event and post event is quite difficult and requires help from an experienced professional. Better leave this job to an Accountant if you are organizing a corporate event or an event on a very large scale.

 

 

 

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Author: Himanshu Sharma