There’s no one better than a wedding planner in New York that understands how hard it is to grow your brand on a limited event marketing budget. Event vendors are on the same boat as they're trying to figure out the best way to get the most out of their event marketing budget.
Pinching pennies is going to be crucial as event vendors in New York are now starting business back up after COVID. In order to improve your ROI, you’ll have to learn how to manage your event budget.
Here are the…
Top Event Marketing Tactics on a Limited Budget
Before you sit down to calculate where you’re going to spend your marketing dollars, you’ll need:
- Clarity – What’s the event planning landscape looking like now? If you don’t have a clear and detailed scope of the in-person event updates, you’re going to be walking blindly back into the #eventprofs scene. Once you know what has shifted and what regulations may help or hurt your revenue, you’ll be able to allot your event marketing budget accurately.
- Research – Unless you’re a new event professional, you already have an idea of what you’ve spent in the past on event marketing. Filter out the items you overspent on, add a little more to what you underspent on, and using data analytics (from your website and social media platforms), decide where you can allocate more marketing bucks.
- Understanding of Expenses – Although it was reported back in 2018, the most recent event industry trends report shows that:
Event pros reported their expenses go to:
- Marketing and promotion: 43%
- Speakers and talent: 32%
- Printed materials: 29%
- Venues: 18%
That being said…
How to Spend Your Event Marketing Bucks
If you’re a corporate event planner in New York, chances are your client’s event is who you’re looking to cut costs on. So, in essence what you want to do is spend less and sell more. Seems like that’s a fat chance, huh? Well, not necessarily.
Finding the budget to bring your event creation into fruition may mean that you must ixnay some of your previous efforts. That includes some of your social media channels. Are you spending money on ads for the wrong channel? Possibly.
Use previous marketing analytics data to determine where money was lost, and then instead spend a bit on an ads expert who can set your ads to actually perform well. Hiring a third-party marketer or freelancer is worth the spend when it will save you thousands on social media ads that don’t perform well. Only invest money on ads for platforms that make sense for your type of event!
Your next step will be to check out the analytics data on your event website or landing page(s) to see where your previous event ticket sales traffic was mostly coming from. Was it from a Google search? Ad campaigns? Was it Eventbrite? Where your potential ticket buyers are hanging out is where you want to push your event marketing ads.
It can be very easy to reduce your event marketing budget and ensure that you use the funds you do have on the right channels. If you automate your marketing, you’ll stand an even better chance of increasing sales because the consistency of your event marketing will improve your event’s rankings anywhere it’s published.
Need help with your event marketing methods? Contact one of our experts today!