Imagine you host a celebration party for your newest business venture. Now, what if there is a shortage in table count or improper sound arrangements? It might be difficult for you to receive your guest and simultaneously take the stress of the event single handedly. That's why investing in a reliable event management team is crucial. 

 

In fact, large business sectors like the software and real estate industry prefer a sophisticated event management team to promote their business better. It's because event management ensures smooth execution and long-term success, whether you're organizing a virtual event, trade show, or business conference.

 

The hype for event management is only increasing. Today, the global event management market is anticipated to develop at a compound annual growth rate (CAGR) of 11.06% from 2023 to 2029, reaching USD 1.76 trillion. This only makes it more clear that tomorrow, if your business decides to celebrate anything, the only way to do it better is by relying on an event management team.

 

So, whether you are new to event management or want to improve your current events, this article contains all the knowledge you need.  Have a look!

 

Why does Event Management matter today?

 

Today, 72% of businesses consider live events to be an essential component of their business strategy, per recent industry data. The reason is - events have scope to represent your business in the most lively and entertaining manner. Moreover, events are now easier to plan and manage than ever because of the incorporation of technology, particularly with the inclusion of 'proptech'.

 

Picture this, you want to invite an important delegate from London to Los Angeles to support your project launch event for an eco-friendly car. Your event should have all the segments that represent your values, the essence of your business, new-age stores, etc., that can impress your delegate and, as a result, help you with funding.

 

This is where proper event management can help you out. You see, from networking to real estate conferences as well, a well-run event can bring you to new business prospects, create lasting connections, and open doors to growth. 

 

That's why whether you're organizing a big corporate event or a small community event, getting access to the idea of event management is essential.  

 

Essential Checklist for an Event Management 

To start with proper event management, you must have clarity of what you want to organize. That's why you need a basic list of duties to arrange your idea into work. So, check this for a starter pack of your event management -

 

The primary duties of event management include:

 

• First comes planning. This simply entails deciding on the theme, location, date, and time of your event.

 

• Secondly, you need to check on your budget estimation. It is the process where you handle money, gather sponsors, and keep the overall expenses under control.

 

• Third comes the part of coordination. This is where you bring suppliers, vendors, and stakeholders together.

 

• In fourth is the part of execution. This is where you actually manage on-site, including attendance engagement and troubleshooting.

 

• In the fifth comes the part to 'follow-up.' It's where you examine the outcomes and comments to make adjustments in the future. 

 

Whether the goal is to create a community, generate leads, or raise brand awareness, effective event management makes sure that every little aspect works together to achieve the ultimate goal. Event management experts must adjust to new tactics and technologies, such as PropTech platforms, when event sizes and formats change in order to improve their workflows. 

 

Key Stages of Event Management

 

Now that you are aware of the overall procedures that go into managing an event, it's time you have a thorough learning on each step of it. Check below -

 

Conceptualisation and Planning

The most crucial phase of event management is this one. The goals, target audience, and objectives of the event are now established. To guide the rest of the process, you must create a plan for the event that includes the impact you hope to achieve.

 

Take into account how PropTech might improve your gathering, particularly during conferences pertaining to real estate. Examples of PropTech technologies that can improve an event experience include interactive floor maps, virtual property tours, and AI-powered attendee matching. 

 

Logistics and Venue Selection

One of the most crucial choices for any event is selecting the ideal location. It entails comprehending the requirements of your audience and matching them with the amenities offered by the location. Transportation, lodging, and equipment rentals are also included in the logistical component.

 

For instance, you will require sophisticated technological installations like high-speed internet and AV systems to ensure smooth interaction if you are organizing a hybrid PropTech event that will include both in-person and virtual attendees. 

 

Promotion and Marketing

An effective marketing plan is required to guarantee a successful turnout. This entails developing event websites, sending out invitations, launching social media campaigns, and running advertisements to raise awareness.

 

Did you know that according to 88% of event planners, digital marketing is crucial to the event's success? Promoting your event effectively gets people to come in, and sometimes that's half the fight won. 

 

Day-of-Event Operations

Everything you have planned comes to life on the day of the event. It takes composure and initiative to handle last-minute changes and manage employees, vendors, and guests.

 

Check-ins can be streamlined, staff communication can be improved, and real-time event status reports may be obtained by using event management software. At PropTech events, where attendees frequently seek out tech-driven solutions, such software is extremely helpful.

 

Activities Following the Event

It's critical to evaluate the event's success after it has occurred. Sending thank-you notes, getting participant feedback, examining participation rates, and creating reports on spending vs budget are all part of this.

 

For instance, comments on new developments and technologies can offer insightful information on new trends in the real estate sector at PropTech-related events. 

 

The Best Approaches for Organising Events

• Utilise the latest technology: 

To automate procedures and monitor advancement, integrate tools such as CRM systems, PropTech solutions, and event apps.

 

• Make a realistic budget: 

Maintain a thorough budget that includes backup strategies for unforeseen costs.

 

• Effective communication:

Make sure that there is clear and regular contact between all parties (attendees, sponsors, and vendors).

 

• Stay prepared for problems: 

Whether it's a scheduling conflict or a technical issue, always have a fallback plan. 

 

How Event Management Is Being Revolutionized by PropTech?

The management of real estate events has undergone a digital revolution thanks to proptech, or property technology. PropTech possesses the power to improve participant engagement and gives organizers useful data insights, from VR-enabled property tours to AI-driven networking.

 

More creativity and efficiency can be achieved in event management by utilizing PropTech. By removing geographical restrictions and establishing more inclusive venues for industry participants, virtual and hybrid events, for example, have facilitated worldwide participation. 

 

Takeaways: Long-Term Success through Event Management Mastery

 

Both art and science are involved in event management. You may produce memorable events that accomplish your objectives by carefully organizing, utilizing the appropriate resources, and remaining flexible in the face of difficulties. PropTech integration can only further expedite the process and improve the experience of attendees as sectors like real estate change.

Whether you're planning a big industrial expo or a company seminar, this guide offers you the information you need to make your next event a huge success.

 

FAQs

1. What are the core elements of event management?

The core elements include planning, budgeting, logistics, marketing, day-of-event management, and post-event evaluation.

 

2. How is PropTech changing event management?

PropTech introduces technologies like virtual property tours, AI-powered networking, and real-time analytics, making events more interactive and efficient.

 

3. What is the importance of post-event activities?

Post-event activities, such as feedback collection and data analysis, help organizers improve future events and measure the event's success.

 

4. How can technology improve event management?

Event management software, CRM systems, and apps streamline communication, automate tasks, and provide real-time updates, ensuring smoother event execution.

 

5. What are some challenges in event management?

Some challenges include budget overruns, last-minute changes, technical glitches, and managing large crowds effectively.