Event Marketing Budgets & Digital Marketing

Published: April 10, 2018, 11:47 p.m.

b"Create an expense line in your annual budget for events.\\nEvery year businesses determine what their marketing, sales, sponsorship, advertising, social,etc, etc line items will be in the budget. \\nIf you are an entrepreneur and not doing this I would highly recommend you find a money manager and start doing this.\\nWhat many businesses forget to think about (or it's an afterthought) is events.\\nEvents are magic. \\nAlright, maybe that's not the best selling point for me to give to justify adding events into your annual budget. Let's look at every major consumer brand in the US. Every single one of them does events. They spend hundreds of thousands and millions of dollars to get eyeballs on their brand and samples of products in consumer hands. \\nThe #1 reason to do events is visibility and brand awareness. \\nThese brands look for an ROI, but do you know that it's not always a cash/revenue ROI that they want to see? \\nThey want to see impressions. How many people saw our product and within that there are calculations to figure out the reach of what one individual consumer is actually worth in impressions. It's a complicated math game.\\nSo, if these brands think it's important why don't you?\\nYou don't have to spend hundreds of thousands or millions of dollars. Let's start small.\\nYou are an entrepreneur and have a service that you offer (coaching, tech, social media, etc). You can invite 5-20 people to an event and charge then $0-300.\\nThis event can be held in your living room, an art gallery, a golf club or resort, a gorgeous meeting space in a local hotel. Heck, even the library. These spaces will cost you anywhere from $0-$1500. \\nYour invite your guests to come to a local half day or one day event to learn from you on a specific area of your service. \\nYou show up and deliver an abundance of value and they walk away feeling like they just won the lottery. What really happened here?\\nYou just made an impression. Hundreds of them. \\nIf you delivered tons of value:\\nThey are going to see you in a different light. They will see you as the expert.\\nThey will tell their friends and business associates about you.\\nThey will share your info on social media.\\nThey may hire you for your expertise.\\nAn event like this doesn't require:\\nA lot of planning\\nAn event planner\\nA large budget\\nLet's simplify this even more.\\nInvite 5 of your closest business associates to a 2 hour session for free or for a very low price to give you feedback on a presentation that you have been working on. Ask for feedback and referrals. Let them know up front that you'll be asking for feedback and referrals, so that they come prepared.\\nDo this. Experiment. Get out of your comfort zone.\\nThe do it again with a larger crowd. Invite your 5 friends back and ask them to bring one person with them the next time.\\nEach time you do this you begin to get more comfortable and confident in your content and the service that you offer. Talking about what you do will feel less and less salesy.\\nCreate monthly or bi-monthly events. All low cost. All local. Create a routine and become familiar to your local community. Once the word gets out that your are offering high value information in your events you will attract your target audience and before you know it, you will need to create a bigger event at a larger venue.\\nIf you start out small like this you can create a line item for events of $10,000 or less and create something impactful in your first year. \\nIf you want to create larger events, I recommend that you start planning and budgeting 12-18 months out. If you know your event is going to cost $30,000 then every month you start tucking away and saving money that is specifically earmarked for your event. \\nThis process makes it easier to pay deposits when they are due. Rather than stressing about how to come up with the money, you know you already have it in your event budget and can comfortably right that check or put down that credit card for the deposits. \\nWhat I see happen all the"