Are you looking to plan a corporate event that will make all of your guests’ jaws drop? Do you want to create a new corporate event that breaks the mold of traditional team-building events? If so, then you need to learn all that you can about planning a corporate event.
Doing so can help your event capitalize on its sole purpose. Whether you’re looking to generate revenue or entertain your top clients, you’re sure to see a significant return on your investment.
See below for an in-depth guide that lists several must-know event planning tips. That way, you can guarantee a great turnout.
1. Gather a Plan
Maybe your company is about to roll out a new product and you want to announce it with a product release party. Perhaps you’ve wanted to put together an event that can help you close sales with some of your largest prospects.
Whatever the case might be, it’s always best to start by gathering a plan. Doing so can help you and your team stay focused on the task at hand.
Every successful corporate event has a strong plan behind it, and it always includes things like:
- Defining your target market for the event
- Creating an ideal number of attendees and defining your preferred guest list
- Determining the goal(s) of the event you’re creating
- What the theme will be
- Your expected return on investment (ROI) for the event
You can add a few other details to the plan as you’d like. For example, perhaps you want to list an underlying message that you want your event to reiterate.
Having these details will help with every other facet of your event. Everything from creating a budget to the venue you choose will be connected to your plan. For example, if your goal is to fundraise, you might consider putting together a golf outing.
2. Create a Budget
Most people believe that an event—corporate or not—can only be successful if there is a lot of money involved. That couldn’t be further from the truth.
The real goal should be to set a firm event budget and then use it as a source of accountability throughout the corporate event planning process. All of the details and purchases you make for your event will be dependent on the parameters you set for your budget.
First, meet with your team and decide how much money you want to set aside for the event. Bear in mind that the cost typically depends on the type of event that you’re trying to throw. You should expect to pay anywhere between $500 to $750 per hour for a larger event.
For example, if you’re planning an employee Christmas party that lasts three hours, you should expect to pay $1,500 at minimum. That will give you a good starting point for your financial planning.
There might be ways to add to your budget as the event draws closer, such as getting sponsors or donors for it (depending on the type of event), but you shouldn’t anticipate those. For the sake of staying below budget, only account for the money you plan on spending.
3. Develop a Planning Team
If you haven’t already, now is the right time to devise a task force—if you will—for the corporate event that you’re planning. Be sure to gather a list of people that you want to be involved in the planning, and then assign them projects or tasks for them to take charge of.
You can divvy up these tasks however you see fit, but keep in mind that typically you need people to oversee things like budgeting, purchasing, content creation, registration, sponsorship sales, event organization, and so forth.
Try to distribute these tasks based on the strengths of your team members. It might be best to outsource things like content creation and event coordination to a professional agency to ensure the best results. After all, if you want something done right, leave it to the pros!
You can look into resources like Show Pro Media to learn more about producing live and virtual events.
4. Have a Focus Group
Imagine the horror of organizing a golf event to fundraise for your nonprofit, then finding out that most of your primary donors have no interest in playing golf.
It’s best to have an outsider’s opinion at every stage of your event planning. That way, you can get approval from someone in your target audience before paying for the venue, organizing the details, and so on.
Determine a few customers that you can reach out to and gauge their interest in the event. It will give you more confidence as you continue to plan.
5. Have Day-Of Tasks
Once the day of the event comes, you no longer need Sally to post the registration link on your Facebook page. But that doesn’t mean she’s out of the woods, yet.
Your team is finite and you need all hands on deck during the day of the event. To have the best corporate event possible, make sure to assign day-of tasks for everyone involved.
Each person will wear multiple hats throughout the event, so don’t be afraid to assign more than one task to each person. You can also hire a run of show to enhance your next virtual event.
Use These Tips When Planning a Corporate Event
Now that you have seen an in-depth guide on how to go about planning a corporate event, be sure to use these tips wisely.
Take the time to browse our website for more articles on event planning tips, as well as many other topics that you will find helpful.
