Startups Justify Budget
There comes a time in every startup’s evolution when holding a meeting, conference or special event becomes crucial to the company’s growth. Yet many startups think they’re not big enough, or have enough cash on hand, to host one. But is that true? How can startups justify the cost of a live event?
First, according to a recent article in Inc. magazine, employee training, customer service, and a solid marketing plan are among the top priorities startup companies should budget for. And a solid marketing plan for a company on a growth path includes events. Why not consider hosting a product launch event or an educational conference? These kinds of events are ideal for trainings of all sorts, while also supporting sales and marketing goals for startup companies. You’ve got everyone in the same place at the same time, focused on your message.
Next, a well-planned and executed live event is an ideal conduit for start-up companies to build trust and establish key messaging with their target audiences - customers, prospective and current investors, employees and stakeholders. Those messages include:
- The company’s future direction, goals and objectives
- Establishing itself in today’s competitive marketplace
- Promoting the company’s brand, fostering sales and building confidence
“They must be the real deal if they can dedicate the time, manpower and budget to a live event.”
But wait, there’s more! Face-to-face events also offer an opportunity to make personal connections and establish relationships. Unlike a recognized business with a core group of customers and stakeholders who believe in the company, a startup often has some hills to climb and biases to overcome. Events extend credibility – both internally and externally – by offering a chance for the company to interact with attendees. This results in valuable feedback for startups to learn what aspects of their message is and is not well-received. This alone makes a corporate event a worthwhile investment, giving investors and customers a positive impression. Decision-makers think, “They must be the real deal if they can dedicate the time, manpower and budget to a live event.”
Still, if money’s an issue, money’s an issue. That’s where working with a professional production company like Enliven Production Group is key. We understand the importance of learning the goals of the event and how to accomplish them within a startup’s budget. Because an event’s size, duration and components are directly correlated to its cost, once we know the goals and the budget, we can determine the most beneficial and cost-effective event structure to meet your needs.
Once a startup hosts a meeting or conference, leadership quickly learns their value.
This is especially true with startups because the management team tends to be more hands-on during the event and is a big part of the personal interactions. Careful post-event analysis of objectives, along with the leadership team’s personal testimonials, helps define future programs for even more success, too.
As companies grow and evolve, Enliven’s team uses its experience and expertise to incorporate additional services and upgraded features, as well. Again, the goal of the event and its budget are paramount. This can include higher quality venues, key destinations, professional keynote speakers, entertainment and more.
So if you’re a startup ready to take the next step in your growth, contact us to discuss your event goals and budget. We’re ready to help you justify the cost of a live, corporate event.