The event planning market covers a wide variety of segments. It is
therefore important that you carefully select the niche where you can
provide the best possible service.
The main market segments can be broken down as follows:
Social Market. The social circuit can be an immense source
of business for an event planner. While typically smaller than corporate
events, there are a number of social events that you can specialize in such
as weddings, children’s parties, birthday celebrations, bar and bat
mitzvahs, reunions, graduations, and other hospitality events. Commemoration
events such as memorials and civic events also fall under this category.
These types of events are usually one-time affairs, but referrals and
word of mouth can help fortify your reputation and widen your customer base.
In a children’s party, for example, your potential clients can include your
current customer for their child’s next birthday as well as all the other
parents in attendance. Note, however, that social event clients often make
strong emotional investments in the event leading to very high expectations
that you as the event planner must recognize and manage (e.g. consider how
parents want the birthday party of their children to be the best).
Corporate Market. The corporate market covers private
organizations and businesses, corporations, and political parties. These
events are typically larger, with higher revenue potential, and higher
chances of repeat business.
Corporate events can include company outings, trade show events and
exhibitions, board member or stockholder meetings, conferences and seminars,
product launches, award dinners, team building events, even fashion shows.
Tasks may include everything from conducting research, creating an event
design, choosing the venue, making hotel selections and reservations,
organizing transportation, arranging the food/décor/entertainment,
determining extracurricular activities for event participants, supervising
the site, coordinating the actual event, and conducting evaluations of the
event. Corporate clients demand high expectations in terms of quality and
creativity, as well as flawless execution in terms of logistics and
operations.
Non-Profits. Charities and nonprofit organizations
including research think tanks regularly host gala fundraisers, receptions,
conferences and seminars, among other events, to raise awareness on issues
they support, expand their public and donor base, and raise funds. While
non-profits may have lesser high-revenue projects lined up for event
planners, their functions and events are generally considered good training
grounds for event planners.
Public Organizations. The Government can be a productive
source of projects for an event planner. Events typically range from high
profile international meetings to conferences and award ceremonies.
Regional Events. Some event planners prefer to specialize
in a particular area instead of a single event type. Called a destination
planner, you can be the “go-to” planner of a specific destination such as
San Francisco, Madrid, or the Caribbean. Your business can involve the
design and implementation of any type of program, including corporate
events, transportation, meet and greet, team building, theme parties, and
any type of special event the customers may require. You will present
yourself as the expert for local conventions, seminars or other events by
virtue of your extensive knowledge and contacts in the area. You know all
there is to know about local venues, restaurants that are "group friendly",
the best means of transportation, and how to showcase the true spirit of
your local area.
Event Services. In addition to working on your event
specialty, you can also provide services that other event planners and
meeting professionals may need. Examples of these services include tent
scenery and backdrop, staffing, catering, videography, professional
speakers, restroom trailers, costumes and inflatable, transportation, among
others. Other support products include event planning software, or
step-by-step guides for those who wish to organize the event themselves and
not hire an event planner.
