A successful event starts at least a year in advance—when you decide your goals, budget, concept, assign committee responsibilities, and start to build relationships with key vendors and sponsors.
Your first step is to plan out what you can afford to spend and how much you hope to make with this signature event. Once your budget is set, it is wise not to deviate from your set expenditures (unless emergency situations arise). If you do deviate, you should also adjust your goal accordingly. Your goal is to make at least 110% from the event compared to how much it costs to run, so be sure to keep track of all costs and keep them at a level where this is realistic. Obviously, every penny saved is an additional profit.
Your event budget should include:
Click here for a complimentary budget template!
Are you pleased with what you’ve raised? Do you feel like you can't possibly raise more? If your answer is yes to both, well, congratulations! Truly, our hats off to you!
If you feel like there is room to raise more, we’re here to tell you, you’re right. No matter how well you did last year, there's room to improve. And that takes planning. Starting...now?
As soon as possible after your annual event, ask yourself these questions:
Prioritize the areas where you hypothesize you can capture and collect more. Dream big. What’s your moonshot? Bonus points for priorities that require no additional investment.
Great. What’s next?
1. Line up your standard goals next to your moonshot goals
2. Communicate these to the team
3. Clarify your action items against the goals – what will be different this year?
4. Include these goals at every company meeting for your annual event
Example Moonshot goals:
A good theme or concept can help you to gain publicity and sell tickets. But it also makes planning easier.
Your theme gives the committee and planners a hook to guide decorations, invitations, entertainment, and the many details throughout the event. In a world of possibilities, it helps to make decision-making simple and to align people around a shared vision.
Common signature event themes include:
More on event themes in this Jam Session!
1. Allow a little more room than you think you need. Choose a venue that has a little extra space, in case you exceed your goals. If you expect 400 people, make sure your venue can handle at least 425. You don’t want to turn potential donors away.
2. Think about the practical elements your event needs. Before your final decision test of the audio-visual components. Test cell reception and wifi. Don’t forget about parking or safe ride options.
3. Consider food and beverage options. A venue with its own catering service is convenient, but make sure the prices aren’t gouged and check that the food fits your theme and crowd. Chicken fingers and macaroni might not be the best fit for a black-tie gala but is perfect for an "un-gala".
4. How important is a central location? It’s important your event is easy to get to—and a central location is a better bet in some cities than others. Consider a location’s accessibility and the timing of when people are coming to the event. Traffic is very different on a Friday night compared to a Sunday.
5. How does the space fit your event flow? Walk through a guest’s experience throughout the night. Where will the silent auction go? Will everyone be able to see the stage? These might sound like small details, but they’re important to your guests—so they’re key elements when you pick your venue.
Event venues: Get the inside track.
At GiveSmart, we’ve helped fundraisers to run events at thousands of venues, nationwide. If you’re considering a new venue, we’ll be happy to tell you about our experiences there.
Contact GiveSmart
This also applies to current sponsors that you’d like to bring back. Don’t assume they’ll include you in their budget for next year—keep the relationship open and involve them in your early-stage plans.
Have your sponsor packages ready before you reach out. Try to have a flexible offering, with an option to stay involved all year round, as well as sponsoring the one event.
By working with sponsors early, you open up the opportunity to offer a more comprehensive and innovative package that can further engrain a sponsor into your giving environment. Create packaging and opportunities for current and new sponsors to support your signature event along with year-round efforts.
Don’t miss this webinar: PACKED with great insights on acquiring new sponsors.
