The Role Of An Event Proposal In Event Management & Revenue Optimization

The Role Of An Event Proposal In Event Management & Revenue Optimization

As an event manager, you’re probably aware that one of the most difficult aspects of the business is winning new clients. While you can secure repeated business if you’re focused on corporate events, like MICE, when it comes to private events, you’ll likely work with someone only once.

That is why you’ll have to spend a lot of time finding new clients and you’ll have to repeat this process over and over again, so any type of automation of your business will be greatly appreciated.  Sure, you can post an online job for college students in your area to support your business, but there are other things to consider besides lead generation. There are multiple steps to take to turn someone who’s merely interested into a client and one of the most important ones is the business event proposal. This sales document may seem like a formality, but it can actually make a major difference between a new client and a lost opportunity.

Source: Better Proposals

As this template of an event management proposal indicates, the proposal itself is an agreement between you and your client in which you present your idea for their event, starting with the problem your client is facing, the solution you have for them, and your pricing table. Here is how your event proposals can affect the way you manage your events and how much you can earn from them leading to effective revenue optimization.

It Shows The Client Exactly What They Get

The first part of every event proposal is the introduction. Use it to justify your authority on the subject and explain your focus on the quality of the events you manage. Really reel it in that you start working on an event once you truly understand your client’s vision and explain to them that every event or show you produce is unique and customized to meet the client’s needs.

Source: Better Proposals

Once you get to the proposal stage of your business relationship, they’ve already seen your portfolio and your beautiful Instagram grid, so it would be wiser to use this time to show your potential client that you understand their needs and that you have just the right idea on how you can help them.

Next, explain the scope of your work. What exactly are you providing to your clients? Do you have a database of different and available venues, caterers, sound system companies, logistics, entertainment options, florists, etc.?

Or perhaps, you are aiming to propose a virtual event like hosting a webinar conference. Although it’s not nearly as large scale as an in-person event, the strategy for reeling in potential clients and putting forth your pitch is the same all the way through. Explain how you’re going to tell the story of their brand through your event production and why they should choose you as their one-stop-shop for a holistic event management solution.

Once you’ve presented your vision of the event, go straight to the pricing section (an extra tip here – don’t call it the pricing section but instead opt for calling it an investment section or ROI) and present a single price for your services. You can divide it to show how much different vendors cost but don’t try to upsell your potential client. In order to achieve revenue optimization, you need to understand that more sales do not equal more revenue. Having a pricing section that consists of a few differently priced tears will confuse your client and will rarely result in higher revenue. 

Lastly, once your client gets to the end of your proposals, make sure to invite them to respond with a CTA, so that they know that you’re waiting on their response in order to start working on their event. 

If all of this sounds overwhelming for you, don’t worry. You can try using this free Better Proposals template that already has all the sections you’ll need as well as an integrated payment and signing option for your client to use once you agree on everything.

Ending statements

The best way to set yourself apart in this industry is by being professional and reliable. While many aspects of your business may change in a year from now, writing proposals and working on revenue optimization strategies will stay as core foundations of your business model. 

Here is where Yapsody and Better Proposals work in harmony to bring you the best kind of event automation there is. Creating an easy-to-follow business or event proposal and using our ticketing platform to create, promote, and sell event tickets online will leave you with more time to focus on event ideas and having more fruitful meetings with potential clients. 

Author Bio:

Petra Odak is a Chief Marketing Officer at Better Proposals, simple yet incredibly powerful proposal software tool that helps you send high-converting, web-based business proposals in minutes. She’s a solution-oriented marketing enthusiast with more than 5 years of experience in various fields of marketing and project management.

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