Finding a way to finance an event is one of the most complicated tasks you will have to face. Besides being also one of the first in which to invest time and effort. Finding the most appropriate way in each case and that really suits your availability or your needs, is a priority for everything to go well, besides giving you an unparalleled peace of mind.
But, you also have to keep in mind that each of the sources of funding for your event will also condition the communication strategies that will be behind the entire development of the event.
So, here we go.
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Ticket sales or registrations
There are many events that we pay for in order to be able to attend. But, it is also true that depending on the event we are talking about, we are willing to pay a higher or lower amount, or simply a modest amount just to thank them for their work.
In addition, the fact of being able to offer advance ticket sales thanks to the amount of online platforms that we have at our hands and at our fingertips, is something that works very well. Without doubting also the advantages of being able to make the registrations also in advance through the Internet.
On the other hand, you must not lose sight of the fact that the fact of taking into account within the organization of the event the sale of advance tickets, also requires a great deal of planning. You have to know clearly what day the event is going to be, the first day that tickets will be available for sale and until what day it will be possible.
PRO TIP: You must also have very clear the diffusion channels through which you are going to publicize your event and all the necessary information for the possible attendees: day, time, place, from when it will be possible to buy tickets or register and until when, available means of payment, etc.
Offering different items of clothing, accessories, objects with the logo of the event or that make reference to it, either for use during or after the event, is a source of income that, although it may seem strange, can provide a reasonable amount of money to meet the costs generated by the event.
Many people are encouraged to buy something that refers to a particular event. For example, we all like to wear a bracelet where you can see which summer festival we have been to, have a mug for breakfast of an event that we liked, a calendar in the office of the event at the end of the year, a folder to carry all the information brochures of potential contacts or interesting clients that you pick up during the day, sunglasses if it is an outdoor event and in summer, a T-shirt to wear for sports, etc.. And a lot of things that have to be done and that you can think of to raise as much money as possible to be able to finance your event without any problems or unforeseen events.
PRO TIP: Keep in mind that each event, depending not only on the theme and the sector, but also on the target audience, will fit more one type of merchandising products than others. Be careful, depending on the products you offer, you can give a wrong image of your event. And this is not in our interest, is it?
Many events have sponsors as their main source of funding. Whether they are one, two or as many as they need.
As you already know, sponsorship is the investment of capital by a company in an event or in social causes. It helps the realization of the different events and to carry out all possible actions to achieve one or more objectives, and in theory it is a disinterested help.
And although it is, in most cases, a disinterested help, sponsoring the event has a lot of advantages for you and your event. For example, achieving greater social repercussion, either through the media, social networks, etc.
Keep in mind that the objective of sponsors who sponsor your event is basically to benefit from it: to gain an image of a strong company committed to the social environment, to have the possibility of expanding their databases, to make themselves known, to find new customers, etc. And to do so, they usually sponsor events that are related to their business activity. Therefore, you as event organizers should look for a sponsor that is within your sector and that could be really interested in this collaboration.
Don’t you know how to choose the perfect sponsor for your event and be interested in it? We recommend you to read this post that will give you 3 PRO tips to get sponsors for an event or congress.
If, on the other hand, your event offers attendees the opportunity to be exhibitors and give them the opportunity to have a stand inside the event venue, through which they can distribute information about your activity and generate new leads and possible new customers, you also have this way through which you can finance part of your event.
There are many events where companies that are interested in having an exhibitor or a stand to achieve some goal have to pay to have their space and carry out their activity. It is a source of income that is beneficial for both parties: some pay to give visibility to their company/activity and the others receive the money in order to finance part of the event.
And now it’s your turn to think… Do you already know how to finance your event? Tell us more about it by leaving a comment in this post. See you next time!