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Justifying Expenses: Show Me the (Value) Money!

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Event Garde LLC
Event Garde LLC

Aaron delivered this presentation during an Experience Grand Rapids site visit on Saturday, Sept. 8, 2012, in Grand Rapids, MI.

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Justifying Expenses: Show Me the (Value) Money! Saturday, Sept. 8, 2012 11:30 a.m. 12:30 p.m.
Jerry Maguire, 1996
Contact Information Aaron D. Wolowiec MSA, CAE, CMP, CTA Founder & President Event Garde LLC Phone: (616) 710-1891 Email: aaron@eventgarde.com Web: www.eventgarde.com
YOU ARE HERE
Stakeholders have an eye on every line item
Conference Expenses
Controlling Costs Actual Costs Budgeted Costs
Controlling Costs Variance Actual Costs Budgeted Costs Example: Food & Beverage
Tips: Food & Beverage la carte Fewer options Counts/trends Overage policy Work with chef Hold dessert Pull break items Water pitchers
Maximizing Resources Possible Usage Current Usage
Maximizing Resources Variance Possible Usage Current Usage Example: Professional Speakers
Tips: Professional Speakers Blog post Twitter chat Facebook discussion Promotional video Newsletter article Magazine interview Webinar (pre/post) Other onsite events
Controlling Costs or Maximizing Resources
Diverging Perspectives Defensive Proactive Justifying Demonstrating Conference Conference Expenses Value Money Value Organizer Attendee Post-event Pre-event
Justifying Expenses: Show Me the (Value) Money!
7 Elements of Value 1. Service 2. Response 3. Variety Value 4. Knowledge 5. Quality 6. Guarantee 7. Price
Justifying Expenses: Show Me the (Value) Money!
Demonstrating Value Identify purpose of the conference Establish learning/relationship goals Align expenses with desired outcomes Calculate return on investment
Tips: Communicating Value 1. Personalize the communication. 2. Be transparent. 3. Describe the attendee experience. 4. Consider qualitative outcomes. 5. Consider quantitative outcomes. 6. Leverage differentiation. 7. Identify cost controls. 8. Identify resource maximization.
Practice: Communicating Value Stakeholder Value Expense
Tips: Communicating Value 1. Personalize the communication. 2. Be transparent. 3. Describe the attendee experience. 4. Consider qualitative outcomes. 5. Consider quantitative outcomes. 6. Leverage differentiation. 7. Identify cost controls. 8. Identify resource maximization.
Final Thoughts Control costs by decreasing actual costs to meet budgeted costs. Maximize resources by increasing current usage to meet possible usage. Experience trumps price. Demonstrate value by aligning expenses with desired outcomes. Communicate unique value to each stakeholder.
Housekeeping 30-minute consultation: aaron@eventgarde.com Email within one week 際際滷 deck: http://www.slideshare.net/aaronwolowiec Available later today Blog post: Experience Grand Rapids
Justifying Expenses: Show Me the (Value) Money!

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Justifying Expenses: Show Me the (Value) Money!

  • 1. Justifying Expenses: Show Me the (Value) Money! Saturday, Sept. 8, 2012 11:30 a.m. 12:30 p.m.
  • 3. Contact Information Aaron D. Wolowiec MSA, CAE, CMP, CTA Founder & President Event Garde LLC Phone: (616) 710-1891 Email: aaron@eventgarde.com Web: www.eventgarde.com
  • 5. Stakeholders have an eye on every line item
  • 7. Controlling Costs Actual Costs Budgeted Costs
  • 8. Controlling Costs Variance Actual Costs Budgeted Costs Example: Food & Beverage
  • 9. Tips: Food & Beverage la carte Fewer options Counts/trends Overage policy Work with chef Hold dessert Pull break items Water pitchers
  • 10. Maximizing Resources Possible Usage Current Usage
  • 11. Maximizing Resources Variance Possible Usage Current Usage Example: Professional Speakers
  • 12. Tips: Professional Speakers Blog post Twitter chat Facebook discussion Promotional video Newsletter article Magazine interview Webinar (pre/post) Other onsite events
  • 13. Controlling Costs or Maximizing Resources
  • 14. Diverging Perspectives Defensive Proactive Justifying Demonstrating Conference Conference Expenses Value Money Value Organizer Attendee Post-event Pre-event
  • 16. 7 Elements of Value 1. Service 2. Response 3. Variety Value 4. Knowledge 5. Quality 6. Guarantee 7. Price
  • 18. Demonstrating Value Identify purpose of the conference Establish learning/relationship goals Align expenses with desired outcomes Calculate return on investment
  • 19. Tips: Communicating Value 1. Personalize the communication. 2. Be transparent. 3. Describe the attendee experience. 4. Consider qualitative outcomes. 5. Consider quantitative outcomes. 6. Leverage differentiation. 7. Identify cost controls. 8. Identify resource maximization.
  • 20. Practice: Communicating Value Stakeholder Value Expense
  • 21. Tips: Communicating Value 1. Personalize the communication. 2. Be transparent. 3. Describe the attendee experience. 4. Consider qualitative outcomes. 5. Consider quantitative outcomes. 6. Leverage differentiation. 7. Identify cost controls. 8. Identify resource maximization.
  • 22. Final Thoughts Control costs by decreasing actual costs to meet budgeted costs. Maximize resources by increasing current usage to meet possible usage. Experience trumps price. Demonstrate value by aligning expenses with desired outcomes. Communicate unique value to each stakeholder.
  • 23. Housekeeping 30-minute consultation: aaron@eventgarde.com Email within one week 際際滷 deck: http://www.slideshare.net/aaronwolowiec Available later today Blog post: Experience Grand Rapids