Hosting an event is one of the best ways to create a great party. It’s also one of the best ways to generate revenue if you use the right vendors. Here are 5 things you need to have nailed down to host the best party and get top dollar for your event.
1. Know Your Audience
The people you are throwing the party for should define your business model. This means you need to know your customers inside and out. It’s not enough to have a basic understanding of only demographics. You need to discover their idea of a good party, the music they like to hear, the alcohol they like to drink, and even the servers they prefer. Do your research and work with a partner who can offer these valuable insights through an integrated customer relationship management (CRM) system.
2. Price your Event Accordingly
For pricing, remember it’s the experience, not the deal, that reels your audience in. It’s critical to understand what your customers will pay in return for a good party. Don’t sell yourself short by trying to provide a deal on a big event, but don’t try to overprice a more casual affair. People understand and have been programmed to pay top dollar for major events, but also understand when an event is overpriced. Find the right ticketing partner who can help set you up for success before, during and after your event.
3. Set Up Pre-Sale Tickets
Every event or venue, regardless of size, benefits from the pre-sale of tickets and inventory. The best way to sell tickets in advance is to get everyone on board with a single platform. There are platforms available that integrates directly into your website, publishes the page for consumers to purchase tickets, have the page integrate with a mobile app for promoters to sell tickets directly from their devices, and track ticket sales and results along the way. This type of platform syncs all promoters and marketing efforts together to maximize ticket sales and revenue well before the day of the event.
4. Get the Word Out to the Right People
Once you’ve defined your audience and set up the steps for your audience to buy tickets, you can start marketing your event. It’s much easier to market and promote your party when you know exactly whom you’re trying to reach and what you want them to do with the information. The best strategy is to always keep your customers informed while maintaining a clear and consistent message in all your efforts. Use a multi-channels strategy to get the word out, such as text-message marketing, printed collateral, email updates, and social media. If you use the aforementioned CRM system, you’re able to track important customer activity and use filters to segment your customers into specific targeted audiences, which in turn means each audience gets messages that are 100% relevant to their habits. That’s powerful marketing, and that’s what continues to drive customers to your event.
5. Be a Good Party Host
Your event efforts must continue, and perhaps even spike, during the night of the event. Treat everyone like VIPs, from the bottle buyer to the general admission guest. Focus on service levels and make them feel appreciated no matter what. Your guests will not only continually come back, but they’ll also tell everyone they know about their experience. This sets you up for success for the long run.