Managing event marketing budgets can be difficult, if only because of the number of variables at play. Getting the figures right is time-consuming, but can be made easier by addressing said variables through a set of simple questions. Here they are.
What’s the Occasion? – Client-faced events cost more. No surprises there. However, not all such events are alike. Much like brands and their “hero” products, you have to identify your “hero” events, and allocate them a bigger share of your marketing budget.
What’s the Size? – The more seats there are to fill, the bigger share of the budget the event deserves. While simple enough in theory, the temptation to blindly use last month’s budget for this month’s event is one that has to be overcome.
What’s the Audience?– Not everyone hangs out in the same place. An event targeting CXOs would need a different marketing platform from one targeting students, and that, in turn, decides what the marketing budget for the event should be.
There’s more to budgeting and event marketing, of course. Check out our monthly webinars for in-depth videos on how you can maximise your event marketing budget, promote your event more effectively, and a whole lot more!