As a New York event planning professional, you’re always on the hunt for genius and effective ways to boost your event revenue. Your business growth and success depends on it. And today, we’re sharing insights and ideas you can be leveraging right now to see a significant increase in revenue. Start making more money with each event and grow your event business to new heights!
1. Expand Into New Event Niches
One of the best ways to grow your event planning business is by offering a new service or expanding your existing niches. Look into growing into a new direction, providing unique event services for specialty events. Maybe you’re a wedding planner who can also plan company holiday parties. Or maybe you’re a corporate event planner who wants to expand into curating virtual events. Find and forge a new revenue stream with a niche or offer that makes sense for your brand and business.
2. Land More Event Sponsors
A great method for increasing your specific events’ revenue is with sponsorships. Get creative with building sponsorship packages. And always include a high-ticket, high-value opportunity, even if only one or two sponsors take it. There are so many event types that warrant brand sponsorship and outside support, too. So, all your corporate conferences, industry shows, fashion shows and fundraising galas should include robust sponsorship packages.
3. Charge More for Event Tickets
Consider boosting your event revenue with incremental increases in ticket prices. Of course, you’ll want to stay in line with your region and local economy. But don’t discount the earning power of securing a few extra dollars per ticket. And if you’re not selling tickets to your event, conduct the research and review the metrics to see if it warrants ticket sales. Remember, too, tickets should promote various event engagement levels, including general admission and VIP experiences.
4. Cut Costs Associated with Event Vendors
You can infuse your bottom line with additional funds by cutting back on event-related expenses. Reach out to your network of event vendors and look to negotiate improved rates for ongoing partnerships. Consider creating “preferred vendor lists” that make working with you a high-value opportunity. And they’ll flock to work with you for ongoing events.
5. Improve Your Marketing Efforts for Results
Grow your event planning business by landing more event clients. And you can land more event clients right now with a few improvements in your marketing strategies. Consider these marketing efforts and start seeing better leads and more event clients.
- Create a conversion path with your marketing
- Increase email marketing messaging with strong CTAs
- Build a referral program for existing clients with incentives
- Pick one or two social media channels and dominate them
6. Get Your Staff Tickets to The Event Planner Expo 2023
Other methods for growing your event business include effective networking, continued learning, skills improvement, and forming strategic relationships. And you can capitalize on all of the above by attending one New York City conference this October - The Event Planner Expo 2023. With three full days of high-energy networking, you’re sure to find new partners and opportunities. The keynote speakers this year, including Gary Vaynerchuk, will take the stage for high-value learning. And you can improve your skills with all the fireside chats and expert panel discussions, too. Moreover, with thousands of events industry professionals, hospitality managers, corporate executives, company decision-makers, and top influencers, it’s the one event guaranteed to lead you to new strategic relationships.
Start improving your event business earning potential with these key insights that drive results! And don’t forget to secure your tickets to The Event Planner Expo 2023!