What Makes Your Events Different?

The events industry is an increasingly competitive arena and making your events different is extremely important. In business it’s the things that make you different that make the difference, and having a unique selling point, or USP, is a good idea. This is what sets you apart from the rest and what makes a potential client choose you over and above all the others.

What Will Be Your USP?

Often, as with most businesses in the services sector – which is what event management is – you could find yourself pitching for work against other companies. Stand back and look at this objectively. What would make you choose your proposal as opposed to someone else’s? Perhaps you have the edge price-wise, or maybe your solutions are unique. Whatever it is, start to think about how you can make yours different, and therefore more appealing.

Do Some Research

The first thing to consider is the competition. You can’t begin to start being different if you don’t know what you’re up against. It’s wise to invest some time and money in market research, looking into other companies in your area, or if you specialise in a particular type of event, in that field. For example, if you are a company that specialises in team building options, take the time to research other companies that work in the same sector, look at the type of team building options they offer and work out how you can be different. If you have the opportunity and it is a appropriate, also ask your clients what they look for as this kind of insight is invaluable.

Work With Your Suppliers

If your aim is to be highly competitive on a pricing front, then of course your first port of call is your suppliers. In the events industry this can be entertainers, facilitators, suppliers of props or venues, so name a few examples. If you can drive down the costs of the services and goods supplied to you, you can then, in turn, pass on that saving to your clients whilst still maintaining good profit margins from each job. This will make you a cheaper option and therefore possibly a more attractive option for your clients. Be aware though that sometimes cheaper isn’t better and you need to make sure you’re offering a good standard to your clients. They won’t come back if you do a bad job.

Spend Time On Your Calculations

Suppliers in any industry or field may be prepared to drop prices as long as there is a high volume of orders to be had, so work out how successful your ‘low cost’ policy will be. Are you going to be able to generate lots of work for the suppliers? Because if you strike a low rate with them, and then bring them little work, they will of course want to renegotiate and bring the price up again. Which will be extremely difficult for you to pass on to your clients! Your margins will shrink and suddenly you’re working far too hard, for far too little!

Research, Research, Research

If being different is your game then your research will be more extensive. You’ll need to have a good grasp of what your competitors are offering and work out ways to offer something unique.

Whatever you choose to set you apart, the key is preparation. Know your competition before drawing your line in the sand and ensure that your are well prepared and your projections are sound.