The holidays are rapidly approaching and many event professionals across the United States are trying to anticipate what kind of business they can expect this winter season.
With the tradition of large corporate galas and overly generous year-end bonuses, the holidays have been the most sought after time of year for event planners and vendors alike. Everyone knows that the holiday season carries many vendors through some of the more difficult months of the year, but the state of the economy is leading event professionals to wonder about the state of our industry.
Will corporations rule out the traditional holiday parties because they are seen as “luxury”? And most importantly – is there any hope for event professionals this holiday season?
The reality is that the event industry will likely experience a whole new meaning to the song “Silent Night” this holiday season. The public and private sectors are feeling the burn and scaling back to be economical.
Large corporations are also trying to ensure that they appear responsible to the public. The past down-turn in the economy and shifts in the technology sector have changed the event industry landscape. That being said, the good news is that events are still happening, albeit differently, and event planners can still profit this season by making three shifts in their strategy.
1. Combine Forces
Have you considered working with those venues and caterers that you refer to regularly? Combine forces with the many vendors who are struggling in this economy to create cost effective holiday solutions for your clients. Consolidating will increase business for all of you and provide ready made solutions to organizations who want to party, but don't have the budget. This also strengthens your relationships with your favorite vendors which will continue to pay off in the future, even when the economy is running on all cylinders. As a strategic shift, it's a win-win for everyone!
2. Plan for the Unplanned
Corporations and individuals are experiencing large unknowns – budgets are changing by the minute and therefore plans are changing constantly. You will likely see an influx in last minute events being planned this season so be prepared in advance. Create a package of services that you can do on limited notice that you can offer to clients who don’t have the chance to plan in advance.
3. Take advantage of Technology
When a client decides that they want to move forward with an event, they will still want the same attention and attendance as a large budget event. Take advantage of free social media technologies like Twitter and Facebook to build your client’s event brand and draw free attention to the events taking place. Not familiar with using them? There is a wealth of free tutorials available on the web so try them in your down time so you can make the most impact in your busy time!
All in all, the important thing to remember is that people will always love to socialize, fundraise and celebrate the seasons - so shifting to cost effective strategies today will help you build your future career. Make the most of the opportunities that exist around you and be creative during this holiday season.
About the Author
Liz King, owner of Liz King Events has been in the events business since 2001 and has produced events such as Media Networking Night at Columbia University, Living It Up at Metro Community Church, and many other corporate and social events. Liz is extremely detail oriented and an expert at all things logistical. Best of all, her event planning career began in the Not-for-Profit sector so she is most known for throwing extravagant gatherings for every budget!
In addition to planning, Liz is very involved with Facebook, Twitter, LinkedIn and other social networks to promote events and collaborate with other event professionals. She maintains her personal social network and also helped to launch Columbia University's Center for Career Education Facebook and Twitter accounts in 2008. She currently works with staff to reach over 1,000 students through these tools. Based on her experience at the Center for Career Education, Liz has been selected to present "From Tweeting to Meeting: Creating a Coherent, Cost-Effective and Sustainable Web 2.0 Strategy to Engage Students" at the Intern Bridge Career Services Online Interactive Conference in January 2010.
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Liz King
