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14 Cards in this Set
- Front
- Back
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What are the different types of event sponsorship?
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Title or Main Sponsor
Tiered Model of Sponsorship Credit Model of Sponsorship In-Kind |
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What should you keep in mind when developing the event registration process?
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- Easy to navigate
- Identify all information you need to track them, but don't ask for info you will not utilize - Different types of registrants: exhibitor, speaker or attendee - Scheduling information or conflicts with selected sessions - Secure payment transactions - One stop shop for housing and whattravel |
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What is included in the exhibitor prospectus? |
- Overview and history of event - Objectives - Floor layout - Load in and load out - Fees - Value for participation - Letter of solicitation - Policies - Audience demographics and buying power - ROI measures - Pre and post event restrictions - Past exhibitors - Testimonials |
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What are the sources of miscellaneous funding at an event? |
Advertising Merchandise sales Commissions Royalties |
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How can you avoid the seven mistakes of budget planning? |
1. Allow contingencies for the unexpected 2. Include tax and service charges 3. Include labor costs 4. Communicate clear policies to speakers and staff 5. Review master account daily 6. Rely on history for meals 7. Know the value of your business |
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How can you avoid the
seven mistakes of budget planning? |
1. Allow contingencies for the unexpected
2. Include tax and service charges 3. Include labor costs 4. Communicate clear policies to speakers and staff 5. Review master account daily 6. Rely on history for meals 7. Know the value of your business |
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Break Even Analysis
(The number of attendees required to break even) |
Registration fee - Variable costs per person = contribution margin
Fixed costs (room rental & equipment) / Contribution Margin = Break even amount of attendees |
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Break Even Analysis
(Registration fee) |
Fixed costs/estimated attendance + variable costs = registration fee break even
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Specified Profit Registration Fee
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(Specified profit + fixed costs) / estimated attendance + variable costs = registration fee to charge to hit the specified profit
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Break even, profit or sustain a loss?
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Total income= fixed income + (estimated attendance x proposed registration fee) + (estimated sponsors x proposed sponsorship fee) + (estimated booth sales x proposed booth fee)
Total expenses= fixed costs + (estimated attendance x variable costs per person) |
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How do you monitor budget performance? |
- KPI for revenue targets which include volume and pace of sales - Forecasted expenses should be regularly updates; only those authorizes should make purchases - Understand how variances in the budget occurred; determine the cause, identify impact; respond accordingly |
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How do you address unforeseen costs in the budget?
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Reduce expenses in other areas or increase income, or it may managed with the contingency fund for the event.
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What should your cash-handling procedures establish? |
- Who will be responsible for specific tasks - How will duties be divided to reduce risk of error - What are the documentation procedures - How will transactions be monitored |
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What elements are included in effective cash handling monitoring? |
- Review security procedures - Monitor revenues and expenses - Monitor cash handling procedures - Monitor audit documentation - Revise procedures as needed |
