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Event planning and management are exciting and rewarding activities. However, running meetings, trade shows, and conferences with a tight budget can be challenging. Planning a successful event requires specific skill sets and demands a balance between creativity and practicality.
Only a few companies have a specialized team to plan and oversee events, while other departments manage core business processes simultaneously. Hence, business process outsourcing (BPO) is an excellent alternative to in-house units.
This article explores BPO’s unique benefits for event management companies and the industry.
The Role of BPO in the Event Management Industry
When a business struggles to manage functions internally, it searches for services elsewhere. Expansion-oriented companies also need help from external parties, which is where BPO comes in.
You might be wondering, “What is BPO?” This approach empowers businesses to save on costs while acquiring experts, harnessing a competitive edge, and improving time to market.
Attracting new customers and designing experiences that inspire loyalty sustain businesses. The insight and expertise of BPO teams can guide your company in organizing events that allow you to build a memorable customer experience while achieving sales and marketing objectives.
Applying the BPO Approach in Event Management
BPO providers can increase efficiency and enhance operations for the event planning industry in several ways. These include making the event planning process more streamlined, cost-effective, and geared toward delivering high-quality experiences to the audience.
Event management services involve designing, planning, and executing conferences, seminars, corporate networking events, exhibitions, entertainment programs, and road shows. Third-party event planners can take charge of specific tasks on your agenda or cover the process from start to finish.
Whether you need to boost traffic, meet your targets, or generate more sales, a BPO partner can support you in carrying out events customized to your needs. BPO experts can also show you how to improve customer relationship management techniques. The key is to partner with a service provider with experience managing company- and industry-specific event planning initiatives.
Event Management Tasks to Outsource
Events are among the most effective marketing strategies, which is why 21% of corporate marketing budgets are spent on them. However, events need thorough customization and planning to deliver on their potential. Here are the functions BPO firms can handle for the event planning industry:
- Managing budgets
- Managing cash flows and payments
- Brainstorming event ideas
- Determining grouping criteria for your target audience
- Creating marketing materials and point of sales (POS)
- Selection of venues
- Designing the event
- Coordinating with suppliers for entertainment, online registration, sponsorship, etc.
- Overseeing events communication
- Coaching, training, and briefing critical stakeholders before and during the event
- Managing RSVPs and attendee lists
- Managing appointments and customer reception profiles
- Sending thank-you letters, invoices, or customer satisfaction surveys after the event
- Developing risk management plans
Benefits of Outsourced Event Management
More than half of business leaders agree that event marketing generates a higher return on investment (ROI) than any other marketing channel.
For companies without a dedicated event planning team, the task might fall to staff without the required event knowledge or resources. This can be a recipe for disaster. Most businesses lack staff who are well-versed in event planning. Even if they do, they may not have the time and money to focus on each detail of the occasion.
Event planning makes for a great BPO opportunity. Here are some ways third-party providers can positively impact the event management industry:
- Better client communication. Effective communication is essential to understanding their needs and preferences. BPO providers often have established communication protocols to keep clients informed and engaged throughout the planning and execution phases.
- Flexible and adaptable processes. BPO providers can adapt to changing circumstances and unexpected challenges during event planning and execution. This flexibility is crucial for maintaining a positive customer experience, especially in dynamic event environments.
- Advanced technology and tools. Many BPO firms can access advanced event management and ticketing platforms, ensuring a seamless registration and attendee experience. These tools can include mobile apps, online registration systems, and interactive event websites.
- Scalable operations. BPO teams can quickly scale up or down to accommodate the fluctuating demand in the event planning industry. This flexibility is particularly beneficial during peak seasons or for handling sudden increases in event requests.
- Specialized expertise. BPO providers often specialize in customer service, data management, or marketing. This expertise can be valuable when handling various aspects of event planning, from marketing and promotion to vendor selection and logistics.
- 24/7 support. Many BPO firms offer 24/7 customer service, ensuring that clients and attendees can always access assistance and information. This feature can be particularly valuable during events that span multiple time zones or require immediate attention.
- Stringent risk mitigation strategies. Outsourced event planning can help clients navigate potential risks and challenges, such as compliance, legal matters, insurance, and emergency responses. It can reduce the chances of unexpected issues disrupting the event.
- Global reach. Third-party event teams often have connections and resources that extend beyond a local or regional network. This global reach can be beneficial when organizing destination events or working with clients who have international needs.
- Assured quality. Third-party event planners often employ quality control processes to ensure every aspect of your event meets or exceeds industry standards. This results in smoother operations and more satisfied attendees.
- Enhanced data management. BPO providers can help you with data collection, analysis, and management. This capability is critical in understanding client preferences, tracking event performance, and making data-driven decisions to improve future events.
- Easier access to expertise. Event planning firms often have specialized expertise in various aspects of event management. They can bring fresh ideas, best practices, and industry knowledge, ensuring that events are well-executed and exceed your expectations.
Real-life Example of Outsourced Event Management
An example of a successful BPO implementation in the event management industry is when LexisNexis Risk Solutions asked a third-party vendor to provide end-to-end event management. The BPO team was responsible for consulting on and managing the delivery of a corporate event project for over 200 delegates.
The aim was to design an interactive, creative, and compelling high-value industry event. LexisNexis Risk Solutions asked the BPO team to make recommendations on branding and venue to create their high-caliber event and to oversee it from start to finish.
With careful planning, an expert team, strong supplier relationships, and constant consultation with LexisNexis Risk Solutions, the service provider delivered an excellent event that received positive feedback from the delegates and the client company.
The Bottom Line
Events play a vital role in any organization’s marketing strategy. They foster community among staff, draw in potential clients, and boost sales. However, organizing a successful event can be challenging, especially if you lack the expertise.
If you find yourself in this situation, it is best to outsource your event management to a dedicated company with a proven track record. Doing so offers time and cost savings and ensures top-tier service delivery.
Let’s connect if you are ready to learn more about BPO’s role in the event management industry.
