It’s perfectly understandable for people planning corporate events to dream big in order to improve the experience year after year. Growth is the sign of a healthy business, they reason, so isn’t making upgrades to your event every year a great way to make the event better? The truth is that it is not automatically the case. Some upgrades may be warranted, especially if your brand could stand to do much better because of them. Now when we say upgrade, we are not talking about refreshing, because keeping your annual event fresh is almost always a good idea. But you need to evaluate your options carefully and determine whether an event upgrade would truly improve the ROI of your event. When looking at an upgrade for your event, consider these three questions.
How Much Does It Cost?
Obviously, this is a key question for many businesses as there is usually a set budget reserved for the event. With budgetary limitations comes a responsibility to use that money wisely. And there may be other event upgrades you can use that can get the same level of audience engagement at a better price.
How Does This Upgrade Make My Event Better?
Now, there’s no question that certain event upgrades are great for drawing in your audience or creating a better quality of life for those in attendance. But a key consideration most planners don’t think about is how great their event already is. Clearly, making upgrades in areas where your event already excels is a poor investment decision. So, too, is upgrading just for the sake of upgrading. You need to have an action plan and a sound rationale for your upgrade plan. It needs to address a key area of concern and clearly make your event better.
Is It Worth the Additional Cost?
The pressing issue here is making sure you’re getting the most out of your event budget. If you can drive more sales and generate a lot more engagement by making an upgrade or two at your event, it may very well be worth the additional cost. But for events already operating at peak capacity with a great foundation in place, the money spent on an upgrade might be better spent elsewhere. Only a careful analysis and advice from a top event production team like TalkingTree Creative can answer this question for you.
STAY ON TOP OF THE LATEST TRENDS IN THE EVENTS INDUSTRY WITH TALKINGTREE CREATIVE!
Ready to share your story? TalkingTree Creative is your premier guide to brand strategy, event planning, video production, virtual reality, and live entertainment. With help from our production experts, you can elevate your message and convert your audience to fans by transforming your next event into a fully engaging, memorable experience. We are located in the Baltimore-Washington Metro area, and we accommodate the needs of businesses and organizations world-wide! Get in touch with us today at 240-252-1200 or 202-684-2225 and let’s start a conversation. Find out what we’re up to on Facebook, Twitter, Google+, and Pinterest.