Marketing Your Event Planning Business

A Creative Approach to Gaining the Competitive Edge

Judy Allen

• Publisher: Wiley
• Year: 2010
• ISBN:
  9780470963821
• Edition: 1
• Topic: Business
• Subtopic: Hospitality, Travel & Tourism Industry
• Index: Business

Practical, prescriptive advice on successfully marketing your event planning business

Recent years have been tough on the event planning industry. The terrorist attacks of September 11, 2001, economic downturns, wars, and SARS have all negatively impacted the business. There are fewer corporate dollars dedicated to travel budgets and special events, creating even more pressure on businesses in an already highly competitive industry. This book tells you all you need to know to market your business and build your client base in good times and bad.

Marketing Your Event Planning Business shows you how to gain a competitive advantage by setting yourself apart from the competition, pursuing new markets, and soliciting sales. It covers all the vital topics in event planning marketing, including how to diversify your client base, develop niche markets, improve your customer service, establish emergency business plans, and much more.

• Ideal for event planners, marketing managers in the industry, and professionals in the hospitality, culinary, or travel industries
• Includes actionable advice on successfully marketing an event planning business
• Features illustrative examples, practical tips, and useful checklists and other resources

Marketing Your Event Planning Business is packed with practical tips and examples, giving you creative new ways to showcase your talents, build your business, and bring added value to your clients.

PART 1

Marketability

The first three chapters of this book look at the importance of first three chapters of this book look at the importance of marketability—for individuals and for companies—in the event planning industry. Marketability is often defined as having marketable goods, services or skills that are in demand and that meet a specific need. Having marketability applies equally to individuals, companies, products or services. People who take steps to ensure that they have appeal increase their chances of a successful and financially rewarding career. They are the ones who stand out as stars in their industry, that are actively pursued on the job front and are continually being hired up. Companies want to hire individuals who will in turn enhance their firm’s own marketability to its customers. Bringing marketable employees onboard becomes an investment to the employer and is viewed as a means of making the company more attractive to future clients, as well as giving it an advantage over its competition.

In today’s market, an employee who has marketability is an important commodity to any employer. Companies are hiring not only the individual’s knowledge, skills and experience, but their personality and reputation as well. They know the value that acquiring a set of sought-after skills brings to their clients and how it can raise their company’s profile and their profits. Companies that are never-ending in their pursuit of improving their marketability are ensuring their competitive edge in business at all times. People want to do business with those who are current, knowledgeable and growing in the right direction. Ways to make yourself and your company marketable are outlined in the first chapter.

Developing areas of expertise adds to the marketability of an individual and a business, so ways to do this are reviewed in Chapter 2. Many event planning industry leaders attribute their success to having acquired expertise in specialty fields, as well as having mastered other key business elements that worked to propel them forward professionally. Not being proficient in certain areas can leave you sitting on the sidelines. Knowing which will take you further fastest can make a big difference in your career.

To stand out from your competition, you need to find a special area of demand for a product or service that only you can fulfill. In an industry where everyone is now competing for the same bit of business, what will set you apart? It is the ability to offer something unique to potential employers or customers. You can tailor your niche to fit your consumer audience by determining what is new and would be compelling to them. Niche marketing is a simple concept that can help individuals or businesses gain an advantage over their competitors. Ways to create your niche in the event planning industry are discussed in Chapter 3.

1

MAKING YOURSELF MARKETABLE

The professional meeting, incentive and special event industry is JL growing and attracting more and more aspiring planners each day. Universities and colleges worldwide are now offering courses and accreditation, and many are fostering an entrepreneurial spirit, developing graduates set on opening and operating their own businesses immediately. The competition for jobs in the workforce and to contract new clients has never been more intense. Almost daily, new companies are opening their doors for business, and those applying new business practices are experiencing tremendous success. Enterprising independent meeting planners are winning accounts away from long-established meeting planning companies and incentive houses. Some of the industry’s biggest players are laying off employees and even closing their doors, while smaller specialty boutique operations are thriving. How did this industry turnabout happen? Those who are moving forward placed their focus on increasing their marketability and investing in themselves and their companies, while those who are experiencing financial hardships are more likely the ones who have persisted in clinging to old ways of soliciting business.

The question that planners and event planning companies are asking themselves is how they can stand out from the crowd, maintain old clients and attract new business opportunities. Doing all you can to make yourself extremely marketable is one of the most effective ways. In business, your knowledge, personality and reputation are what makes you marketable, both as an individual and as a company.

There are three key steps to making you and your company marketable:

1. Target Your Talents: Never stop investing in yourself.

2. Distinguish Yourself and Your Company: Showcase your expertise by becoming visible. Learn how to build public awareness by using industry network and media effectively so that you can position yourself for success.

3. Manage Your Reputation: Watch out for your personal and professional reputation and be protective of your good name.

TARGET YOUR TALENTS

In the past, event planning was a field that many just fell into. There was little offered in the way of formal education and training and most of what was available was through industry associations. There were very few books on the subject and people were not very open about sharing information. It was an industry where you learned by trial and error, from being on familiarization trips, taking part in site inspections, and handling an event on site. In the late 1980s many of today’s leading event planning companies were still receiving supplier quotes on telex machines, and preparing cost summaries manually, using adding machines and typewriters. Fax machines were embraced when they were first introduced, but in some offices the single, shared computers sat gathering dust as people clung to the old comfortable way of doing business.

Immersed in the day-to-day drama of event planning, deadlines and intense work demands, many planners left continuing education up to their employers. Owners faced a dilemma when it came to deciding whether or not to invest in employee education. The fear of time and money spent had to be weighed against the possibility of employees leaving, taking with them their newly acquired skills and having someone else be the benefactor. Some owners were so paranoid that they would not let their employees out of the office for familiarization trips or presentations for fear that they would meet someone who would lure them away. Many owners chose to do nothing. And they discovered what happens when you don’t invest in growing your company and your employees. They became stagnant, lost their momentum, and in the process suffered loss of business and standing in the event planning community.

Today, planners are taking responsibility for ongoing education and investing in themselves. Planners know that enlightened companies are now hiring with an eye on industry experience, knowledge, areas of expertise and accreditation. Some would-be planners start out to set themselves apart from their job-seeking peers by successfully completing industry courses that will allow them to receive certification once they have been hired and have completed the certificate’s work hour requirements.

They know investing in education can give you:

• Professional credibility

• Expertise

• Special recognition

• Prestige and industry reputation

• Competitive advantage in securing a position or soliciting business

• Marketability

• Promotions

• Increased earning potential

Those dedicated to investing in themselves and increasing their marketability are making the time to better their skills and are committing to being leaders in their industry by taking every available opportunity to upgrade their learning. The meeting, incentive and special event planning industry offers an abundance of educational resources, including:

• Formal Education

• Industry Certification

• Associations

• Professional Resources (Books/Magazines/Online Publications)

• Industry Conferences, Congresses, Trade Shows and Award Shows

FORMAL EDUCATION

Formal education can pay dividends for the rest of your life. Studies show that graduates of colleges, universities and technical institutes can earn hundreds of thousands of dollars more over their career than can non-graduates. Planners already in the industry who know the difference a degree can make are going back to school as mature students and signing up for courses that have opened up in the event planning field. Others are embracing distance learning as the perfect solution, preferring to learn online at their own pace. For those who are wondering how they can fit further education development into their busy schedule—when there is not enough time in their day for personal, family and professional demands and a commute to classes—this is a viable option. There are a variety of opportunities out there for distance education in the event planning field. For example, one North American planner just completed her master’s degree in tourism management from a university in Australia without setting foot on the campus.

INDUSTRY CERTIFICATION

Industry certification also increases earning potential. Those with industry certification, such as Certified Meeting Professionals (CMPs), can earn up to US$10,000 more annually than non-CMPs. The more knowledge and skills you can accumulate in the event planning industry, the more valuable you become. Industry standards have been set, and those who meet them are in demand. In this challenging industry, you continue to grow and expand your understanding through experience and professional development. With proper training, event planning can be developed into an art form.

Samples of internationally recognized event planning industry certification include:

• Certified in Exhibition Management (CEM)

• Certified Incentive Travel Executive (CITE)

• Certified Manager of Exhibits (CME)

• Global Certification in Meeting Management (CMM)

• Certified Meeting Professional (CMP)

• Certified Special Events Professional (CSEP)

Certification eligibility, the qualification process and contact information to become certifiable for each of the industry designations listed above can be found in Appendix A of this book.

ASSOCIATIONS

When you are starting out in the event planning field, joining an association is a good first step. Membership in an association serves as a means to introduce you to the industry, meet your peers and learn more about your chosen profession. It is also a way to become actively involved and to start making a name for yourself in the event planning community. You can begin by attending meetings, and progress by volunteering and serving on various committees and even running for a seat on the board of directors. Each step helps you move forward in becoming known in the industry and being involved keeps you on top of changes that are taking place. You may even end up being instrumental in setting new standards.

TIP

Although it may be tempting to sit with those you know at industry events, there is more value in moving outside your comfort zone and introducing yourself to those you have I not met. Too often, planners don’t practice what they teach their clients—get your guests circulating—and remain in their select clusters, losing a valuable marketing opportunity in the process by not moving outside their immediate circle of business acquaintances. You never know who else may be in the room, who knows who, who can introduce you to someone that you have been wanting to meet or who may be in a position to sing your praises to an important business contact—unless you take steps to expand your business network.

Being part of an association enables planners to network with local and international peers; be apprised of breaking industry news; take part in educational conferences, seminars, certification and leadership programs; and stay on top of latest trends and issues affecting the industry.

Important industry associations and councils, many of which have worldwide chapters, include:

• CIC—Convention Industry Council

• CSES—Canadian Special Events Society

• HSMAI—Hospitality Sales and Marketing Association International

• IAAP—International Association of Administrative Professionals

• IACC—International Association of Conference Centers

• IAEM—International Association for Exhibition Management

• IMPAC—Independent Meeting Planners Association of Canada, Inc.

• ISES—International Special Events Society

• MPI—Meeting Professionals International

• NACE—National Association of Catering Executives

• PCMA—Professional Convention Management Association

• SCMP—Society of Corporate Meeting Professionals

• SITE—The Society of Incentive & Travel Executives

Contact and general information for each of the associations listed above can be found in Appendix B of this book.

PROFESSIONAL RESOURCES (BOOKS/MAGAZINES/ONLINE PUBLICATIONS)

It is essential in the fast-paced, ever-changing world of event planning to keep yourself current. One way of doing this is by subscribing to industry magazines, and purchasing event planning books and best-selling books on business, current affairs, marketing, public relations, party planning and entertaining. Online publications such as BiZBash, Chief Marketer and MIMlist are other excellent resources (MIMlist Meeting Matters is the meetings industry’s leading e-mail-based discussion group, where you can participate in conversations with more than 2,000 of your industry peers).

Magazines, books and online publications offer ideas, tips and information on coming trends and successful techniques that can be adapted to meet your individual event planning needs. Use them as teaching tools and sources of information, innovation and inspiration. Seeing or reading about a new product or idea may be just the trigger you need to come up with a fabulous new party theme or introduce an exciting new element to your event.

A wealth of industry information can be found at your fingertips online (online publications), in your e-blasts (marketing e-mails) and through your e-newsletters (industry/association newsletters), as well as through regular mail (magazine subscriptions) and through association bookstores. You can find relevant books through Amazon, Barnes and Noble and Chapters.Indigo, and have them delivered right to your home or office.

Meeting planning, incentives and event planning are always in transition. Planners must be skilled at reading upcoming trends, keeping on top of industry rules and regulations and predicting the next hot destination venue or theme. Industry knowledge and continuing education is of paramount importance. It is what will set you and the company you work with apart from the herd.

A sample listing of professional industry resources can be found in Appendix C of this book.

INDUSTRY CONFERENCES, CONGRESSES, TRADE SHOWS AND AWARD SHOWS

You can further your education by attending local, national and world conferences, congresses, trade shows and award shows. Be sure to take advantage of the wealth of information that is made available to you by the event planning industry. When you attend seminars given by industry leaders, you can come away with information that you can immediately put to use, because they know the issues that are facing you back in the office. Attending educational symposiums can also teach you how to run an event. You will see firsthand the different operating styles and get immediate feedback of what to do and what not to do at your next event. If those planning the event miss a step, they will no doubt hear about it and get to witness in person the crowd’s reaction. At one premier event planning award show, the company doing the centerpieces made a major mistake and had displays set up at each table that, while impressive, no one could see over, around or through once seated. The audience—seasoned event planning pros—immediately removed theirs from the table.

At another event, mashed potatoes served in a martini glass as a trendy appetizer remained untouched, with guests unwilling to consume so many carbs on what to them were merely basic potatoes and too heavy considering a full dinner was following. One seminar onboard a boat had guests longing to be rescued when the electricity died. That affected many of the evening’s components, from food preparation and air conditioning to music and even the operation of the toilets. Seeing what can go wrong and how teams of industry experts implement crisis management is perhaps even a greater learning experience than taking part in a perfectly executed event.

You also get to observe how different venues operate. This is especially useful if you are attending an event at a property that you may have considered in the past but not had the opportunity to use as yet. You may also get to see cutting-edge technology at work, as the newest ideas are often on display at industry events. For example, different online and on-site registration systems may be being tested.

Some of the industry’s well-known conferences, congresses, trade shows and award shows, along with contact information, can be found in Appendix D of this book.

DISTINGUISH YOURSELF AND YOUR COMPANY

Event planning companies looking to make themselves marketable to employees—in order to attract the best in the business to work for them—know the value of showcasing what they have to offer. They understand that this is not just a marketing application designed to bring in potential customers. When employers have the best minds in the business working for them, they know they are giving themselves the competitive edge of added marketability, and they do this by distinguishing themselves from their competition. They play up their differences publicly.

In the past, event planning owners seemed to look for employees who worked ceaselessly to meet the demands of their business. Their employees would work past exhaustion to meet deadlines, sometimes even crashing on the company floor to sleep for a couple of hours before beginning again. Employers are no longer looking for that. They know that having an employee who is out of balance will eventually lead to poor productivity and burnout. Managing business wants without jeopardizing personal and professional needs is becoming very important to employers, employees and customers. Fle...

Table of contents

• Praise
• Title Page
• Copyright Page
• Dedication
• Acknowledgements
• PREFACE
• PART 1 - Marketability
• PART 2 - Market Development
• PART 3 - Marketing Endeavors
• CONCLUSION
• APPENDIX A - Leading Internationally Recognized Industry Certifications
• APPENDIX B - Industry Associations and Councils
• APPENDIX C - Industry Magazines, Books, Online Publications and Resources
• APPENDIX D - Industry Conferences, Congresses, Trade Shows and Award Shows
• APPENDIX E - Sample Creative Concepts
• INDEX