How Company Event Data Can Make You a Queen
The biggest issue producing a company event is usually the budget. Whether you ask for it, or it is a given, it is hardly ever enough to meet the high expectations. I have often seen the brutal conversation between the event manager, procurement and executives playout. You push from one side, they push back, and you have to make do with what you get. End of story, the meeting is over.
Or is it?
A few weeks ago I met a very talented event manager who particularly persuasive. No negotiations, no struggle, no push back. She gives a number and the number sticks. Apparently, there’s no magic or strong arming involved. In fact, it’s simple - it’s all about the data. As the known secret goes, data is the new oil. Companies are basing their entire business model on data. And here’s how data can help you.
If you can’t beat them Join them: Numbers Are Your Friend
Approach the event budget conversation like an executive, with the numbers.
- Use trends – Managers love trends. With data from your last 3-5 events you can make graphs that would sell faster than anything you can say. Graphs showing how much money was spent per employee, number of attendees, average spend per vendor, the satisfaction rate, etc. With this kind of data driven approach your likely to find manages more receptive of your narrative.
- Use benchmarks – Nothing sells like a comparison. When you tell your manager that similar companies spend 20% more on events, you can be sure it will leave an impression. They might not capitulate immediately, but ultimately they will know logic is on your side.
- Play with it – Cross reference one type of data with another, for example checking if employee satisfaction increased compared with the budget per employee. Another less intuitive example, is checking if there’s an increase in employees attendance when the event is over 50 miles away from the office. A destination event costs more and would help you make the case for a larger budget.
- Talk Big – Another effective way to secure budget is to utilize the psychology of large numbers. It’s easier to talk about $100K for the entire year than $10K for one event. So if you were to setup a meeting about the annual events plan and show the number of events, invitees, impact, budget, etc. You’ll be appreciated for the proactive approach and you’re guaranteed to get more than you bargained for.
I know it’s a lot of legwork, but we’ve seen it pay off.
We believe in this so much that were creating a dedicated event planner that gathers the above information and more. If you’re still reading, I’d like to offer you free early access. You’ll get access to our annual planner, budget visibility, event management, data collection and some more goodies. No strings attached and no commitment