Why Clear Commercial Event Goals Are Key
In an events-world, it’s Christmas which is quite apt considering the weather at the moment! I’m currently working on Christmas projects for a theatre, measuring strategy and financial forecasts to decide what we’re presenting and how that is in line with the artistic mission of the theatre.
Events have historically been a residual use of the spaces but this time, we’re planning ahead to integrate the opportunities for events income in a concentrated period that gives licence fully to the artistic endeavours for the rest of the year and adding an extra income line to organisations that have relied on funding - especially in times of reduced arts funding.
When I run events, not only is the actual event and its success at the forefront of my mind but also the commercial goals and ROI. Events cost money, and I work with my clients to fully understand their expected return on investment. Sometimes events are put on from a marketing standpoint with the aim to showcase and raise awareness for a company or brand, other times it is to generate sales and return.
In my experience, the commercial goals of the event need to be discussed before anything is done as this can impact the type of event I plan and execute.