29: Corporate Events

 

B A (JMC) (3-YDC), SEMESTER SYSTEM

SEMESTER –IV

SEC III: PUBLIC RELATIONS AND EVENT MANAGEMENT

Unit - 2: EVENT MANAGEMENT

LESSON – 29: Corporate Events

Objectives:

1. Know about corporate events.
2. Understand different types of corporate events.
3. Learn the process of planning corporate events.
4. Know the benefits of effective event planning.
5. Understand the role of PR in organising corporate events.

Introduction:

Corporate event planning is the art and science of meticulously orchestrating business gatherings, conferences, seminars, and other corporate occasions. These events play a pivotal role in the corporate world, bringing together employees, clients, stakeholders, and industry leaders to share knowledge, foster connections, and drive business growth.

Planning a corporate event includes everything from pre-event details all the way through to post-event details. Some companies may hire full-time corporate event planners as a way to ensure everything runs smoothly, but for other times it may be up to the employees in a company to put an event together. To create a hosting schedule, event organisers can start by breaking down the day into time blocks and identifying the different activities that will take place during each block. They also consider the specific needs of the event, such as technical requirements or catering arrangements. Any business that wants to build lasting relationships, which is crucial for the company’s growth, needs to know how to produce professional events.

Hosting a corporate affair allows to strengthen bonds with current clients and partners, while developing genuine connections and attracting future ones. Whether hosting a product launch for 300 people or an employee training for 15 members, it is important to approach each gathering with an understanding of the basic elements of event management like research, design, planning, coordination and evaluation. Once an event is broken up into these manageable stages, it becomes much easier to conceptualize it and pull together the many moving pieces into one event.

In this lesson we deal with types of corporate events, process of planning a corporate event, key components of event strategy, benefits of corporate events etc.

Types of corporate events

Whether a seasoned planner or new to the game, understanding the different types of events can help to create unforgettable experiences. We shall explore the vibrant spectrum of corporate events, each with its unique flair and set of requirements.

Micro events: These are on small scale but may have a big impact. Micro events, typically hosting up to 100 attendees, are the hidden gems of the event world. Think of them as intimate gatherings where ideas and coffee flow in equal measure. These events might include focused team meetings or specialized training sessions. While they may seem straightforward to organize, do not be fooled by their size. Planning a high-level executive retreat for 50 can be as complex as a large-scale conference. It is all about attention to detail.

Small events: These are perfect middle ground events. When the guest list is between 100 and 250, look at a small event. This is where to really start to flex the creative muscles. From seminars to departmental conferences, these events often feature a main stage for keynotes, breakout sessions for collaborative work, and of course, catering that keeps everyone energized. Managing the logistics of technology, registration, and transportation also becomes more prominent here.

Midsize events: These things embrace technology. As we move up to midsize events, accommodating up to 1,000 attendees, technology starts to play a starring role. These are the company-wide conferences or high-profile leadership summits. A branded website for the event, pre-event communications, and a mobile app for attendees are key components. Accommodation and transport logistics also become more intricate here.

Large-scale events: These things become a grand affair. Large-scale events are where planning becomes a grand orchestration. These events often require sophisticated technology solutions for managing everything from hotel bookings to flight arrangements for attendees. Think of multi-day conferences with extensive itineraries including offsite activities, cocktails, dinners, partner programs, and perhaps an awards ceremony. The complexity of managing staffing, catering, and the overall attendee experience increases significantly.

Conventions: This witnesses the ultimate gathering. At the pinnacle of event planning are conventions. These can attract up to 10,000 participants and span several days. It is just not creating an event but a microcosm of experiences and opportunities. The scale of planning encompasses every aspect discussed and more, often requiring a team of dedicated professionals to manage the myriad details. The size of the event will dictate its complexity and the range of elements needed to be managed. Remember, each type of event offers its own set of challenges and rewards. Whether planning a small, intimate gathering or a large-scale convention, the goal is to create an engaging and memorable experience for all attendees. Conferences and seminars are popular choices for organizations aiming to disseminate knowledge, share industry insights, and provide professional development opportunities for attendees. These events often feature keynote speakers, panel discussions, and interactive workshops.

Product launches: These corporate events are designed to introduce new products or services to the market and create a buzz around them. These things can be highly impactful in generating media coverage and attracting potential customers and investors.

Trade shows and exhibitions: These events are excellent platforms for businesses to showcase their products and services to a targeted audience. They facilitate networking opportunities and foster business-to-business interactions.

Team building retreats: These are geared towards strengthening camaraderie among employees, promoting collaboration, and enhancing team dynamics. These events may include team challenges, outdoor activities, and skill-building exercises.

Board meetings and shareholder conferences: Corporate events are not just for external stakeholders; they are also essential for internal communications. Board meetings and shareholder conferences provide opportunities for decision-making, strategy discussions, and financial reporting.

Award ceremonies and gala dinners: Recognizing and celebrating the achievements of employees, partners or clients is a powerful way to boost morale and foster loyalty. Award ceremonies and gala dinners are ideal for creating a sense of appreciation and recognition within the organization. These things can get media mileage for the organisations.

Process of planning an event

Significant successful corporate events are in fostering strong business relationships, enhancing team dynamics, and leaving a lasting impression on clients and employees alike. But the planning truly can become overwhelming. Whether the aim is to host a dazzling product launch, an engaging conference, a team-building extravaganza, or an elegant awards ceremony, craft extraordinary experiences that leave a lasting impact on the clients, attendees, and stakeholders alike. 

1. Craft an event agenda: The event agenda and program are the heart of the corporate event. It outlines the flow of activities, including keynote speeches, workshops, breakout sessions, and networking opportunities. Keep the event schedule organized and balanced to ensure attendees remain engaged throughout the event. Consider incorporating interactive elements and opportunities for audience participation to create a dynamic and memorable experience.

2. Purpose of event: The first step in corporate event planning is to clearly define the objectives and goals of the event. What is to be achieved with this event? Is it to increase brand awareness, launch a new product, or foster team cohesion? Identifying the primary objectives will help to stay focused and make informed decisions throughout the planning process. Alongside setting objectives, establishing a well-defined budget is crucial. Consider all the necessary expenses, including venue costs, catering, entertainment, marketing, and any other specific requirements for the event. Allocating a budget will help to manage expenses and prevent overspending.

3. Audience: An important part of the planning process is defining the target audience. Is it company’s executives and upper management, business partners, or community members? Is it for long time clients or potential clients? May be it is a combination of some or all the above. Figuring out target audience and understanding how to reach them is essential to a successful event. It is always stressful to determine how many guests to invite to these events. For small businesses, empty seats and uneaten snacks look bad and are a waste of money. In most situations, having too many people show up is not really going to spoil an event, with some exceptions, like venues with very limited space or where a three-course meal is planned. If too many people turn up, it is also great marketing. Regardless of how small or large the guest list is; what people will remember is how they were treated. Every person attending the event is a potential brand ambassador or word-of-mouth spokesperson for the business. It is important to make a significant impact on the guest experience by not overlooking the finer details that each attendee will appreciate first-hand.

4. Realistic budget: Set aside time to create the budget. Event planners, event marketers, and event managers should work together to create this budget before planning any other aspect of the event. This task may begin anywhere from a few weeks to a few months before the actual event. If it is a plan to hire event professionals, invite them into this initial process, and allow them to take over the rest of the steps.  Create broad budgeting categories. To create a budget, the first thing to do is determine which parts of the event will incur expenses. Develop a list of every expense that falls into each of the categories. Determine an organizational framework or structure for the budget. Regardless of size, any budget needs to have two distinct sections: one for expected costs, and one for actual costs. Explore ways to reduce expenses. But don’t skimp on food or beverages, and don’t forget to take into account attendees with dietary restrictions.

5. Theme and format: Once the objectives are defined it is time to choose a theme or topic for the event and determine the best format for presenting it to the guests. For example, coordinating a client event with an industry expert, such as a guest speaker, can position the company as a trusted advisor, instead of just a vendor. Peer-to-peer learning with client panels, keynotes, roundtables and breakout session speakers are other popular options. A successful corporate event is both immersive and educational. 

6. Project timeline: Designing the event requires to keep track of a broad range of tasks. This can be facilitated by creating a master detailed checklist. The overall planning checklist serves as a tool for the duration of the planning process. Even without dedicated software, one can keep track of the checklist by creating a spreadsheet and using individual tabs for each event category, such as venue, speakers, schedule, agenda and travel. This way, the list of each activity or task, the people responsible can adhere to for each part of the process, and all the relevant deadlines. 

7. Right venue: The selection of the perfect venue sets the stage for a remarkable event experience. If it is hosting of an in-person event, this crucial decision goes beyond a mere location; it influences the ambiance, accessibility, and overall impression the event leaves on attendees.  When picking the ideal venue, consider the atmosphere that the event may wish to create. Always make sure to select a location that is accessible. The accessibility of the venue plays a pivotal role in attendee participation. Evaluate the venue’s capacity in relation to the expected attendance.

8. Logistics of the day: The first step in organizing a corporate event is to establish a streamlined event registration and ticketing process. A user-friendly registration platform allows attendees to sign up easily, providing essential details such as name, email, company, and any special preferences. Incorporating early bird discounts and tiered pricing options can incentivize early registrations and boost attendance numbers. Efficient ticketing processes not only simplify attendee management but also aid in tracking event metrics for future planning.

9. Audio-visual equipment and technology: Corporate events often demand cutting-edge audio-visual equipment and technology solutions to engage participants effectively, whether the event is held in-person or virtually. For virtual events, live streaming platforms and virtual event tools are integral to connecting remote attendees with the event content and speakers. High-definition audio and video setups ensure clear communication and immersive experiences, capturing the attention of the audience. With the rise of remote work and the global accessibility of virtual events, live streaming technology has become a game-changer. Live streaming allows corporations to reach a broader audience, including remote employees, clients, and partners, ensuring maximum engagement and participation. Virtual event tools, such as interactive chat rooms, Q & A sessions, and virtual networking spaces can foster real-time interactions, replicating the in-person event experience.

10. Accommodation and transportation: For corporate events that require attendees to travel, coordinating accommodation and transportation arrangements is essential. Securing room blocks at nearby hotels or providing recommendations for lodging options ensures convenience for out-of-town guests. Additionally, arranging transportation to and from the event venue guarantees a hassle-free experience, allowing participants to focus on the event’s core objectives. 

11. Safety & security: Implementing comprehensive safety protocols and emergency plans is critical to safeguarding both attendees and staff. Whether orchestrating an in-person gathering or a hybrid event, conducting meticulous risk assessments and partnering with expert security teams establishes a secure atmosphere for all participants. In the realm of virtual events, cybersecurity measures are equally indispensable. These precautions are essential not only to protect sensitive data but also to thwart potential threats and ensure the safety of the digital environment. Compliance with data protection regulations further underscores the commitment to ensuring a secure and privacy-conscious event experience for all.

12. Software: Event management software provides real-time insights, enabling organizers to monitor event performance and make data-driven decisions. From small-scale seminars to large-scale conferences, these platforms cater to various event types, providing customizable features to suit specific needs. By automating repetitive tasks and reducing manual work, event planners can focus on creativity and creating exceptional experiences for attendees. Responding to global challenges, the landscape of corporate events has undergone a remarkable transformation, embracing the realm of virtual, hybrid, and in-person event solutions. Virtual events break down geographical barriers, enabling participants to engage from any corner of the world, while hybrid events strike a balance between in-person and virtual experiences, catering to diverse preferences and situations.

13. Negotiation with vendors & suppliers: Building strong relationships with vendors and suppliers is essential for a successful corporate event. Negotiate contracts that clearly outline the scope of services, deliverables, and payment terms. Review and compare proposals from multiple vendors to ensure to get the best value for the budget.

14. Promotion of event: If people do not know about the event, no one will show up, so it is imperative to find creative ways to get the word out. For a small event with a limited guest list, one can simply send out invitations, but need to be bolder for larger events. From there, promoting the event on social media and to have the team spread the word are essential tasks. Create an event website or, at a minimum, a new landing page on the current site. Social media marketing can also include promo videos, guest blog posts, Facebook, Instagram, LinkedIn or Twitter updates. Maintain uniformity by using the same handle and hashtag across platforms and consistent messaging so that the buzz about one particular event is clear. Social media is a powerful tool for promoting corporate events. Create dedicated event pages on all the social media platforms to engage with potential attendees and share event updates. Utilize event hashtags and encourage attendees to use them to generate buzz and create a sense of community around the event.  Live-streaming on social media can be an effective way to give a sneak peek into event highlights.

15. Event planning team: Behind every successful corporate event is a dedicated and competent event planning team. Assemble a team of individuals with diverse skills and experiences who can work together seamlessly to execute the event. Assign specific responsibilities to team members based on their strengths and expertise. Effective communication and collaboration within the team are vital. Regular team meetings and updates will ensure everyone is aligned with the event’s progress and goals. One of the crucial aspects of successful corporate event planning is securing engaging speakers and presenters who can captivate the audience, impart valuable insights, and align with the event’s overall goals. The right choice of speakers can elevate the event, leaving a lasting impact on attendees and contributing to its overall success. This approach not only engages remote participants but also entices on-site attendees to share their excitement and experiences, creating a virtual ripple effect that extends the event’s reach.

16. Collaboration with media & influencers: Building relationships with media outlets and influencers can significantly enhance media coverage and thereby the publicity of corporate event. Reach out to relevant industry publications, local newspapers, and online blogs to pitch the event as a newsworthy happening.

17. Celebrate and evaluate event planning success: Even if the event went off without a hitch, it is not yet done. Now is the time to wrap up any loose ends, such as sending final payments to vendors, reconciling the finances.

Having discussed so many things in the process of planning a Corporate Event, the key components of event strategy are (1) Defining goals and objectives, (2) Setting the Event budget (3) Deciding on the audience (4) Choosing the right Venue (5) Effectively marketing the event (6) Encouraging the attendee engagement and (7) Following up after the event.  

Benefits of effective event planning 

The success of a corporate event hinges on efficient and effective planning. Here are some benefits of well-executed event planning:

Seamless execution: A comprehensive event plan is the foundation of successful corporate event planning. It involves meticulous strategizing for each phase of the event, ensuring smooth logistics and an impeccable attendee experience. From pre-event marketing to post-event evaluation, every detail must be mapped out. Allocating essential resources, including budget and skilled team members, is critical for seamless execution. A well-coordinated team ensures that no aspect of the event is overlooked, contributing to its overall success. Incorporating event technology can further enhance flawless implementation. Event management platforms automate processes, manage guest lists, and provide real-time data insights for informed decisions. This technology-driven agility adds efficiency and adaptability to the execution process.

Cost Optimization: Strategic event planning plays a pivotal role in achieving cost optimization without sacrificing the quality of your corporate event. By meticulously analyzing and allocating the resources, it can be ensured that every aspect of the event is executed efficiently while maximizing its impact.

Enhanced Experience: Thoughtful planning takes into account the needs and preferences of attendees, leading to a memorable and enjoyable event experience. For instance, at an onsite event, integrating badge scanning eliminates the need for attendees to wait in extended queues for entry, reducing friction and delays. Similarly, incorporating innovative networking features like intelligent matchmaking ensures that participants spend their event time engaging exclusively with individuals they find relevant and interesting. This approach enhances the overall experience, making the event both memorable and enjoyable for attendees.

Return on Investment (ROI): A proper event plan takes into account everything, brand awareness, tickets sale target, attendance, and even sponsorships. By aligning event objectives with business goals, companies can measure the success of the event in terms of tangible outcomes, thereby justifying the investment made.

Brand Perception: A professionally organized event reflects positively on the company, strengthening its reputation and credibility among attendees and the industry at large.

Analysing Event Success and KPIs: To measure the success of corporate event, it is crucial to define and track Key Performance Indicators specific to event objectives. KPIs can include metrics such as the number of registrations, attendee engagement, leads generated, revenue generated (if applicable), social media reach, and overall return on investment (ROI). Analyzing these KPIs provides quantifiable data, enabling to evaluate the event’s impact and assess its effectiveness in achieving the set goals.

Role of PR & CorpCom:

The Public Relations and Corporate Communication with of an organisation plays a vital role in holding corporate events, including (1) Event conceptualization and planning (2) Setting clear objectives and messaging (3) Identification of target audience and managing them (4) Media relations and ensuring press coverage (5) Content creation like drafting speeches, preparing presentations, press releases (6) Taking care of branding and visual identity of the organisation (7) Coordinating the logistics (8) Reputation management (9) Crisis communication if needed and (10) Post event evaluation and reporting. By leveraging their expertise in communications, messaging and stakeholder engagement, these people can help deliver successful corporate events that meet the intended objectives.

Summary:

Corporate events are mostly sponsored. Either the corporate itself funds or an outside agency funds. The key elements in planning a corporate event, be in small or large, first thing first is to have an objective combined with theme, budget, audience, logistics, technology usage, good speakers, communication to stake holders, employees, sponsors etc.  Whether hosting a product launch for 300 people or an employee training for a handful people it is key to approach each gathering with an understanding of the basic elements of event management, research, design, planning, coordination and evaluation. Must facilitate appropriate venue that is accessible to attendees, transportation, security and safety. Corporate events enhance, image of the brand, motivates employees, give maximum visibility though media.  This establishes more business to the company. Any corporate event needs pre-event plan and post-event review and feedback to understand the success of the event and to improve the areas where it is needed. A professionally organized event reflects positively on the company, strengthening its reputation and credibility among attendees and the industry at large. PR and Corporate Communication people can be of great help in achieving the intended objectives of the Corporate Events.

Frequently Asked Questions (FAQs)

1. What is planning for corporate events?
2. How does one can plan a corporate event?
3. What are the key elements of corporate strategy?
4. How do you analyse event success?
5. What is the role of social media in promoting an event?

Model Answers to FAQs:

1. Planning a corporate event includes everything from pre-event details all the way through to post event details. Companies may hire full-time corporate event planners as a way to ensure everything runs smoothly, but other times it may be up to other employees in a company to put an event together. Corporate event planning is the art and science of meticulously orchestrating business gatherings, conferences, seminars, and other corporate occasions. These events play a pivotal role in the corporate world, bringing together employees, clients, stakeholders, and industry leaders to share knowledge, foster connections, and drive business growth.
2. Identifying the primary objectives will help to stay focused and make informed decisions throughout the planning process. Alongside setting objectives, establishing a well-defined budget is crucial. Consider all the necessary expenses, including venue costs, catering, entertainment, marketing, and any other specific requirements for the event. Allocating a budget will help to manage expenses and prevent overspending. Corporate events are mostly sponsored. Either the corporate itself funds or an outside agency funds. The key elements in planning a corporate event, be in small or large, first thing first is to have an objective combined with theme, budget, audience, logistics, technology usage, good speakers, communication to stake holders, employees, sponsors etc.
3. So many things get involved in the process of planning a Corporate Events. However, the key components of corporate event strategy are (1) Defining goals and objectives (2) Setting the event budget (3) Deciding the audience (4) Choosing the right venue (5) Effectively marketing the event (6) Encouraging attendee engagement and (7) Following up after the Event. Significance of successful corporate events lie in fostering strong business relationships, enhancing team dynamics, and leaving a lasting impression on clients and employees alike. 
4. To an attendee, a successful event means a seamless, inspiring, memorable and value-added experience. To an event planner, a successful event means achieving these goals and more. Planning and executing a successful event is like conducting a symphony orchestra. Multiple components must synchronise flawlessly to create the perfect attendee experience.  Things like KPI i.e. Key Performance Indicators, Metrics like Event check-ins, event survey, Feedback, ROI i.e. Return on Investment and NPS i.e. Net Promoter Score and few others will decide the success of a corporate event.
5. Utilizing social media and online platforms are very useful in promoting an event. Social media is a powerful tool for promoting corporate events. Create dedicated event pages on platforms such as Facebook, LinkedIn, Twitter, and Instagram to engage with potential attendees and share event updates. Utilize event hashtags and encourage attendees to use them to generate buzz and create a sense of community around the event. Live streaming on social media can be an effective way to give a sneak peek into event highlights, behind-the-scenes moments, and interviews with speakers or performers. Building relationships with media outlets and influencers can significantly enhance the publicity of your corporate event. Reach out to relevant industry publications, local newspapers, and online blogs to pitch your event as a newsworthy happening.

Multiple Choice Questions (MCQs):

1. Budgeting, negotiating the contracts, arranging speakers and logistics are part of event________ process. 

a)      Research

b)      Design

c)      Planning

d)      Coordinating

2. Corporates produce the following special events for their members.

a)      Meetings

b)      Political events

c)      Conferences

d)      Rallies

3. Event that is held to introduce company’s new product to market is called __________

a)      Social event

b)      Seminars

c)      Product launch

d)      Trade show

4. Which important thing is to be kept in mind while finalising a corporate event: __________

a)      Budget

b)      Purpose

c)      Theme

d)      All the above

5. Corporate events attract more visibility by using __________

a)      Public Relations

b)      Marketing

c)      Technology

d)      Social media

Keys to MCQs: 1 (c), 2 (a), 3 (c) ,4 (d), 5 (d)

Glossary:

Orchestrating: The act of coordinating, arranging and directing various elements to achieve a harmonious and effective outcome. It involves planning, organising and executing multiple components to create a cohesive and successful whole.

Building Relationship: Creating and nurturing connections with others to establish trust, understanding and mutual benefit. It requires effort, communication and empathy to develop strong, lasting relationships.

Influencers: Individuals who have built a significant following on social media or other online platforms and use their influence to promote products, services or ideas to their audiences.

Fostering: The act of promoting, supporting and nurturing the growth, development and wellbeing of something or someone. It involves creating a conducive environment, providing resources and offering guidance to help individuals, teams or organisations thrive.

Realistic budget: It is a financial plan that accurately reflects the costs and resources needed to achieve a specific goal or project. It is based on realistic assumptions, historical data and expert input and takes into account potential risks and contingencies. 

Gamification: Gamification is gaining popularity as an effective way to engage participants. By introducing challenges, quizzes, and rewards, event planners can infuse an element of fun and competition for the attendees. The incorporation of interactive elements not only boosts attendee satisfaction but also generates valuable data and insights for future event planning.

Live Streaming: It refers to the real-time transmission of video and audio content over the internet. It allows users to broadcast live video to a global audience, who can watch and interact with the content in real time.

ROI: It means Return on Investment which is a financial metric that calculates the return or profit generated by an investment, expressed as a percentage of the cost of the investment.

KPI: It stands for Key Performance Indicator which is a measurable value that demonstrates how effectively an organisation is achieving its objectives. KPIs are used to evaluate performance, identify areas for improvement and track progress towards goals.

NPS: Net Promoter Score is a measure of customer satisfaction and loyalty, calculated by asking one simple question i.e. “On a scale of 0 to 10, how likely you are to recommend the product or service to a friend or colleague?”

Key words:

Corporate, Event, Planning, Organising, Audience, Venue, Budget, Promotion, Media, Marketing, Evaluation

Y. BABJI

Editor, Public Relations Voice

Academic Counsellor, Public Relations (since 1989)

AP Open University/Dr BR Ambedkar Open University