Analysing the financials: reviewing costs, re-visiting budgeting and affirming pricing models
Most associations offer SPEX packages around events, but many do not have a dedicated SPEX sales person. And 46% of professionals responding to the AAE's recent survey said they found it was hard to sell SPEX on some events. What are some of the tools and techniques used by specialists in this field.
The costs of event production are ever-increasing yet it can be difficult to pass on those costs through increasing delegate fees. Many event professionals are being asked to deliver great events on reduced budgets.
Taking another look at the financial elements of your events may useful. Review of event costs/categories and quick wins Standard budget/pricing approach - fixed costs, variable costs, break-even point and profit. Using different budgeting models to determine pricing/profitability. Review of pricing strategy - are your events correctly priced The politics of pricing Using discounted pricing to build early support/buy in Measuring return on investment - does the end result justify the means
Ref:ENG18/TLK-7361
