While you’re likely knee-deep into the fall event planning season, preparing for end-of-the-year events for your clients, you should also be analyzing your current business position. As an entrepreneur, 4Q presents a timeline opportunity to make improvements that solidify your 2023 year earnings and growth. Today, we’re sharing the insights event planners need to see, along with suggestions and steps to take that will directly and positively impact your bottom line.
1. Conduct a Pulse-Check on Your Event Planning Business
Sit down with your analytics and metrics to see how you’re doing as a business. Look back at 1Q and 2Q earnings, expenses, and strategies. See if you spot trends in your transition to 3Q. And in particular, pay attention to growth ticks and missed opportunities. As we prepare to close out 2023, you’ll want to do more of what’s worked and less of what’s not worked. Consider reviewing these specific aspects of your company processes to better evaluate your event planning business’ current position. From here, you can put together action items that will directly impact your results.
- Lead generation efforts
- Close sales
- Marketing strategies
- Operational expenses
- Company wins and losses
- Organizational progress
2. Review Annual Goals and Prioritize 4Q Actions
Spend some time reviewing goals that you set for yourself earlier in the year. Then, use your data to see how far (or close) you are to reaching those goals. Some may be unrealistic to reach come December. Others may be within your reach. Start prioritizing the actions you need to take to reach those attainable objectives. Focus on what you can accomplish by the end of the year.
- Use a weekly execution plan.
- Look to close gaps and tie up loose ends in revenue, sales, and projects.
- Create a “wait until 2024” list.
- Initiate tasks to organize, declutter, and streamline.
3. Close More Event Planning Clients Now
Just as you would running a foot race, when you’re in the home stretch, it’s time to pick up the pace. Now is the time for event planners to hustle and start closing new business. Event clients you close now will ensure a busy 2024. And there are some tactics to help you create a sense of urgency and sign more deals in 4Q.
- Follow up with event prospects by phone or email with end-of-year urgencies.
- Call your existing clients and ask for referrals.
- Incentivize signing with you now vs. later.
- Lock in this 4Q’s event clients for next year’s event.
4. Get to The Event Planner Expo 2023
Of all your business-growing efforts, attending important conferences and exhibiting may be one of the most important. And this October, The Event Planner Expo provides you with a groundbreaking opportunity to showcase your brand to thousands of top events industry professionals, hospitality representatives, and decision-makers ready to do business. It’s three full days of incredible learning and high-energy networking. And with showstoppers like Gary Vaynerchuk and Marcy Blum taking the Speaker Series stage, you know it’s going to be an experience like no other. Get your tickets and secure your trade show floor exhibitor space today!
Boost your sales efforts, close more deals, and end 2023 on a high note with these insights and The Event Planner Expo!