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Event Management Companies: Is It Time to Try Something New?

Event Management Companies

If you’re familiar with Tigris, you would know that we tend to look at the glass as half full. We believe if there’s a will, there’s a way. As we reflect on our 1-year work from home anniversary, we’re considering all of the lessons we have learned. Notably, some were harder than others. However, not everything we’ve learned has been negative. For instance, one silver lining to come out of the pandemic is opportunity! First, let us preface this by saying that we are very grateful to still be operating. We hope to see our industry and community come out of this stronger than ever. Considering the closures and lost revenue for event management companies, you may be asking where is the opportunity? Well, it depends on how you look at it! For example, there have been opportunities to pivot into digital or hybrid offerings.

In addition, many agencies have used the same partner year-over-year, not necessarily open to looking for new ones. The traditional attitude is “why fix what isn’t broken?”. Well, just because it isn’t broken, doesn’t mean that it’s helping. In our experience, if you aren’t growing, you could be wilting. We know it’s easier to work with the same company who knows your needs. But we only grow when we get out of our comfort zone! Since our old event calendar was erased by the coronavirus, we’re seeing opportunity to get in front of new potential clients. This got us thinking. How do you know when it’s time to shake things up and inquire about fresh ideas? Well, we’ve put together another Tigris Top 5 to help! So, let’s think about event management companies and ask yourself if it’s time to try something new?

Transparency

When approaching a new potential partner, the first value we consider is transparency. This is because any company you partner with becomes an extension of your brand. This is why transparency, especially between partners, is so critical. For instance, if you’re researching event management companies, consider the following: Does your company’s values align with theirs? Does their reputation in the industry reflect well? With access to social media all around us, staff and vendors alike have become more vocal than ever. Be wary of situations that could include mistreatment or mismanagement of staff or even payment neglect.

Now, you’ve gathered your research and connected – it’s time to ask for a quote! However, once you receive that quote, don’t just skip to the bottom line. Remember to review it carefully and read between the lines! Particularly when budgets are a concern, a lot of us are guilty of looking directly at the subtotal. We often forget to analyze what is incorporated into each line item. Ask yourself, is their pricing transparent? Does it clearly state what you’re paying for? In addition, ask about their process for managing budgets. You want to know if your dollars are working as hard as they can or if they are subject to markups. Be sure to keep your ears, but also your eyes open!

Time Management

Time Management

Organization and prioritization are broad terms, often interchanged. We like to house them together under the umbrella of time management. When reflecting on professional partnerships this is especially important to consider. This can be said for all event management companies, suppliers or vendors you work with. So, how do you evaluate this? Well, we start by asking the tough questions. For instance, do you receive quotes in a timely manner? Are emails responded to (or at least acknowledged) quickly? Is progress easily visible? If the answer is no, it may be time for a new partnership. Whatever the project may be, your initiatives deserve to be completed effectively and efficiently. Whether it’s one staff or a million-dollar PR stunt, it should feel that your project is a priority! In addition, all aspects should be timely and organized. In our experience, this sets the tone for how their entire operation runs.

Staff Quality & Diversity

As we previously mentioned, any company you partner with becomes an extension of your brand. In addition, the ambassadors selected for your event will become the face of your product or service. This is a bit part of what consumers will remember. So, it is especially important your partner gets it right. Consider the overall quality of the staff they are providing. In addition to this, inquire about the diversity of their rosters. Yes, it is important to have professional, experienced and personality packed brand ambassadors representing your brand. But diversity is equally (if not more) important. Brand ambassadors should come from all walks of life. Bringing with them different backgrounds, skills and experiences. Overall, this genuinely impacts consumer connection and experience. In addition to how they associate planned experiences back to your company. We strongly urge you to consider this in your research!

Event Management Companies: Staff Quality & Diversity

Reporting

There is something to be said for planning and execution, but don’t forget reporting! Reports can get brushed aside. If that’s the case, then your partner may not understand what matters most – results! Reports offer up the chance to highlight successes, but also dive deep into challenges and improvements. It’s important to inquire if post-event reports are included in their quote. There may be a cost, or it could be complimentary. Speaking to their transparency and accountability. If included, inquire into what type of insights and analytics will be provided. Can you expect to see consumer testimonials or frequently asked questions? In what timeframe can you expect this post event? Oftentimes event management companies are working as third parties, so it’s important they understand that you have people to report back to. The goal should be to improve from event-to-event, year-over-year, providing the most transparent, helpful feedback possible.

Expertise

Finally, let’s discuss expertise! Prior to the coronavirus, the event planning and marketing industry was booming. New agencies were popping up constantly. Therefore it’s important to consider expertise when choosing to work with event management companies. For some, expertise is gauged by number of years in business. This is certainly something to recognize, but there are other factors to include when assessing an agency’s credibility. For example, what other clients are in their portfolio? Are they able to provide relevant case studies? Are they recognized leaders in the industry? Do they contribute to their community? Have they received any awards or achievements? These all are important questions to help determine expertise. It’s important that anyone you choose to align yourself with has respectability (respect + accountability).

If you take anything away from this article, remember, a chain is only as strong as its weakest link. We are not judged solely by our actions alone, but who we choose to align ourselves with. It is never a bad time to pause, reflect and re-evaluate. You might find exactly what it is that you’re missing! If you’re looking for more thoughts about event management companies, check out our other blogs. To get in touch with Tigris, click below or your free quote or call us today at 416-283-9119!

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