Three Common Pitfalls of Event Management
Posted On 30/06/2022
Planning a large event without knowing how long it will take can lead to several pitfalls. Some of these common pitfalls include underestimating the amount of time necessary for an event and setting deadlines too early. This can cause problems such as missed deadlines or understaffing. Another common mistake is not keeping track of changes made to the scope of the event. Other common mistakes include failing to keep track of the smallest details and setting ticket prices too low.
Setting ticket prices too high or too low
While setting ticket prices too high or too low is essentially an issue of maximizing sales and avoiding the pitfalls that result in under or over-selling, it is crucial to keep in mind that it is also important to provide value to the attendees. If your event is not worth the money people pay for it, they will likely not attend. Similarly, if the price is too high, people will be scared off. A good way to avoid this is to set a sweet spot. To determine this, you should consider the event’s variable costs and your desired profit margin.
The first thing to keep in mind is to ensure that you have an accurate estimate of the number of attendees for your event. This way, you won’t end up booking a venue that is too small or too large for the number of people you expect. Another way to avoid underselling an event is to create a waiting list for people who haven’t bought a ticket yet. A waiting list for a particular event also helps to replace any cancellations, and it can help prevent under-selling. Moreover, you should understand how much money you have available for your event and allocate it according to this. Remember to include any additional costs such as marking, which are part of your budget.
Failure to keep track of changes to the scope of the event
One common problem in event planning in India is failure to keep track of changes to the scope of an event. While the event industry is known for its flexibility and changes, this often results in scope creep. Will Brandt and Andrew Will explain how scope creep can affect an event and offer solutions to avoid it. Scope creep occurs when project goals or vision shift. This is problematic for the team, stakeholders, and event attendees.
It’s essential to establish clear processes for receiving and recording changes. Regardless of the event type, events often include a number of stakeholders, including vendors, contractors, outsourcers, and other third-party suppliers. An effective system for tracking changes will keep everyone on the same page and prevent any issues down the road. This is a critical component of successful event management. To prevent this from happening, start by establishing a formal ‘change tracking process’. The person requesting a change should identify what the change is and how it will affect the event. This way, he or she can communicate with all involved stakeholders and ensure that any changes are made only to improve the event.