Increase your event attendance by helping your participants justify the expense
Getting an event thoroughly attended can be an arduous task, especially if your charge significant event registration fees and are trying to attract a national or international delegation. It can cost an attendee thousands of dollars to attend your event – most will not pay out of pocket. They’ll need funding, which is where their employer comes in. A potential participant asking a tight-fisted manager to release thousands of dollars without clearly outlining the costs and benefits will get them laughed out of their office very quickly – so to help get your participants from there to here with an attendance justification toolkit.
The Big Question to answer in order to pave the way is ROI – Return On Investment. Traditionally expressed as the equation (gain from investment – cost of investment) / cost of investment, all it really means is that the participants need to prove that what they’ll bring back from your event will at least match the amount of money invested into their trip. To help justify the expense, your justification kit should include the following:
- Expense Summary: Your kit should include a list of fixed and variable expenses for the registrant. Registration fees are one thing, but there’s also food, housing, airfare/gas mileage. Companies will often fund their employees with a daily allowance (per diem) for food and expenses. If food is included with registration, be sure to include this information, as it helps to reduce the required per diem amount.
- Benefit Summary: The other part of the equation, the benefits of the event need to be clearly articulated – some good examples include:
- CEU / CME: Continuing Education Units are necessary to keep many professionals in practice – if you’re offering them for attendance, your participants will have a much greater chance of getting that funding.
- Networking opportunities: The chance to obtain new clients or source a better vendor can often loosen a tight corporate wallet.
- Technical training / best practices: Actual quality education – will your attendees come away with better habits and a wider knowledge base that they could put to use for their employer?
- Career path: If your attendees’ organization promotes career paths for their employees, your event could assist them in reaching professional milestones.
- Knowledge transfer: One trained attendee could potentially pass what they’ve learned to an entire department, making their participation more valuable to their employer.
We’ve included a rough template for you to tailor, and pass along to your potential delegation – don’t miss out on potential revenue and participation that these people might bring to your event.
Click here to download your template to distribute to your participants, and help increase event attendance by helping them get there!
For more information on how to increase event revenue, don’t miss our post on increasing donations for your non-profit event.