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| Path: Main Street : Resources & Library : Research Articles : Feature Article |
Tailor the event to the market and make it a real fundraising toolOctober 16, 1996; Canadian FundRaiser
"Don't worry about a budget." says event planning specialist Dave Nelson, "Worry about an effective marketing plan." Tight special event budgets hinder an organization's ability to reach its target audience, since the initial costs are often large and unwieldy. Rather than holding a small event that hopes to attract big dollars, special events coordinators should promise to "spend what it costs to get to the market we want to reach, and not a penny more."
In this rather up-front assault on the most treasured notions of fundraising frugality and planning, Nelson encourages fundraisers to stop justifying poor special events by defending them as good public relations vehicles, and start running events that make money. Nelson offered his hints at a special one day seminar on the planning, marketing and management of special events called Getting the Payoff from Special Events.
There is a three-year learning curve to any special event, says Nelson, and the key to organizing a successful fundraising special event for your organization is to understand your market, learn its limits and exploit its scope. From the outset, organizations should plan their events with a three-year term in mind. Don't set a goal of $25,000; make $100,000 your total objective by 1998. This long term thinking will help to justify the event during the initial year when the guest base is being built, and ensure the organization's full commitment to the project.
With more nonprofits hosting events each year, the market is quickly becoming saturated. By reducing the number of special events that you conduct, you can focus on making it/them more profitable. Rather than running a dinner, an auction, and a raffle, start out one year with a dinner, then add an auction to the dinner the next year, and a raffle in the third year. By adding tributaries to your river of event revenue, he says, you will keep patrons coming back in the future, reducing the costs of acquiring new guests and building the prestige of the event.
Nelson also counsels charities not to confuse the mission of the institution with the mission of the special event. The mission of the organization may be to reduce hunger, but the target audience for a special event might best be suited to a gala dinner at $250 a plate. If the event is a success, it will go a long way to further the mission of the organization. The key to an effective event is not to create the event and then market it, but to target a market and then craft an event around it.
Aside from selling tickets, another key to successful special events is selling access to the ticket holders through sponsorships. With a clearly defined market for your event, it is also easier to identify and approach potential sponsors. Nelson uses the example of a gourmet dinner that was held at a remote wilderness lodge. Rather than paying for transportation to the lodge from a distant parking area, the organization sought sponsorship from a sport utility vehicle company. Guests were shuttled between the parking area and the venue in the newest model of the Land Rover. The organization gained valuable sponsorship dollars and the company received a highly targetted market, all of whom had test drives in their product.
Used effectively, special events can be valuable sources of revenue in addition to tools of public relations and relationship building. By focussing on a target market and building a unique event to service that market, your organization can make great strides in communicating and supporting your mission.
For more information about Dave Nelson's special events seminars, call (408) 879-9392 or fax (408) 371-4752.
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