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How to Choose the Right Type of Event – Increase Your ROI?

 

Events bring all kinds of people together, from leaders to philanthropists and celebrities,all under one roof. This dynamic combination allows for building new relationships, inspiring change, deliver opportunities, and increase your ROI.

Events provide a great opportunity to network within a new community and increase brand awareness within your industry. There are hundreds of events that organizations have to choose from. The more defined the objective of the event, the more impactful this decision becomes.

How to Pick the Right Type of Event?

Events arefavored by everyone because they bring people together and offer networking opportunities. But the question is, how can you prioritize one event type over the other in a limited time and development budget?

Don’t worry, as, in this article, we have shared our observation on different types of events to help you choose the right one this year.

Define your Goal and Choose an Event Type

There are multiple event types that you can choose from, both live and virtual, as all these provide a unique value. All of these events serve a purpose, so here is a list of most sought after event types that you can choose from.

1. Conferences

Conferences are at the top of the list because they provide a platform to share information with large groups at the same time. These are famous for industry training to inspirational speakers. Conferences are here to stay – throw in some networking space for people to meet each other and voila, you have a perfect event!

One of the mistakes event planners commit when planning a conference is that they fill the event with so much content that there is little space left for networking. The attendees are rushed from one session to another, which gets tiresome. If planned right, conferences can provide true inspiration and networking opportunities to build connections.

2. Webinars

Virtual events and webinars are as lucrative as in-person events if executed properly. Webinars let you connect with people that are relatively inaccessible in case of in-person events. Webinars are a great way to get information without spending on travel. A well planned out virtual event can keep people engaged and create a useful educational experience for the attendees.

These online events are great for engaging introverts that may not take part in face-to-face events. These events also provide unlimited sponsorship opportunities that can help you extend your event ROI. To monetize your virtual events and make profits from webinars, make sure to get help from professional event companies in Abu Dhabi to plan an exciting virtual event that your attendees will love.

3. Workshops

Workshops are highly focused events that are designed for a specific purpose and focus on one particular outcome. It could be about training, problem-solving, or gaining a new skill. These events can range from hours to multiple days, depending upon the theme of the workshop. Workshops are fantastic for team building, skilldevelopment, and interactivity.

What’s great about workshops is that it can take place both in real and virtual. However, if you want people to join your workshops, make sure they are not structures like a lecture and poorly facilitated. Workshops should be structured like a treasure hunt, storytelling, or a game; you start at the beginner level and advance with time.

4. Private Events/ Gala Dinners

Small business-focused private events or gala are great event options with the sole purpose of networking, making connections, and meeting people. These events are a fun way to grow your connections outside the industry and meet new prospects. Private events are an excellent opportunity to reach out to new customers and prospects, free of competition.

Gala event is a more formal event, including entertainment, food, and music, mostly intended to raise money for a charitable cause. It is an excellent opportunity for people to dress up and enjoy their night and interact with people. You can make the event more interactive by introducing silent auctions and live performances to make it more fun.

Event Budget – How good is your Math!

Most of the time, companies are too focused on the quality of the event that puts the budget in the back seat. Keep in mind that with the quality of the experience, you should also be looking at sponsorship fees and multiple costs associated with the event.

Most organizers don’t account for soft costs, i.e., the workforce and indirect costs. As a result, the total the company has to experience cost overruns and budget shortages. Therefore, it is highly recommended that you MUST consult one of the event companies in Abu Dhabi that is much more cost-effective when it comes to event planning.

Choose and Plan an event to Maximize ROI

When designing your event development plan, it is essential to align your objectives with your budget. No matter which type of event you choose, it is crucial for you to get outside of your daily work environment to keep your ideas fresh. Staying connected is vital for organizing events that increase ROI.

Keep in touch with event organization companies to integrate your investment in new ways that are critical to your marketing return.

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