4 Tips for Hosting a Successful Event for Small Businesses
Picture this: Your small business has been operating online only, but now you’re ready to open a physical storefront. To generate excitement and attract new customers, you host a grand opening event with drinks, snacks, and a 10% discount on every purchase. At the end of the day, you’ve had your most successful day of sales yet and positive feedback from community members who are excited to come back.
Whether you want to boost sales or improve employee retention, events present a valuable opportunity for small businesses that want a concentrated burst to their results. After all, nothing beats the energy and excitement of an event when it comes to fulfilling your goals!
In this guide, we’ll explore four tips for ensuring your small business’s events succeed and bring you great results. Let’s begin!
1. Identify goals for the event.
Many small businesses see events as large investments and are determined to get a great return. However, this can lead them to try to do too much with a single event, resulting in lackluster outcomes.
Don’t expect your event to be a jack of all trades—instead, identify one or two goals it should meet. These might fall into the following categories:
- Generate leads and sales
- Increase brand awareness
- Strengthen customer relationships and loyalty
- Give back to the community
- Network with other local organizations
- Recruit new employees
- Boost employee satisfaction
For example, let’s say your small business is a gym. You might host an event that helps you increase gym memberships and give back to the community. Your event may also offer tangential benefits, such as increased brand awareness and more connections with local nonprofits, but keep in mind that these are not the main focuses of your event.
Keep your event focused by setting a SMART goal—specific, measurable, achievable, realistic, and time-bound. With SMART goals, you’ll always know how far away you are from your desired outcome, allowing you to know when to pivot or adjust your strategies.
2. Choose the right type of event.
If you want to celebrate your ten-year-old’s birthday, would you host a bowling party for them and their friends or take them on a brewery tour? Certain types of events are better suited for specific goals than others. Let’s take a look at the main types of events you may want to host to meet your small business’s goals:
- Sales events. If you want to generate more sales or leads, choose an event like a business grand opening, product launch party, flash sale, exclusive shopping event, or pop-up store event.
- Educational events. To increase brand awareness and authority or network with other local organizations, consider hosting workshops, webinars, expert panel discussions, and other educational events.
- Community events. If you want to help build the community, you can host one of two genres of events. The first consists of entertaining and social events, such as community potlucks and bar mixers. The second is social good events, such as volunteer days or social good fundraising events, where you raise funds for a charitable cause.
- Employee events. To boost employee retention and satisfaction, host employee events like team retreats and team bonding dinners. For employee appreciation, eCardWidget recommends hosting movie nights, group outings, and holiday parties.
- Recruiting and networking events. If you want to recruit new employees or connect with other organizations, host local business networking mixers and recruitment fairs to get the partnerships and applicants you desire.
Feel free to get creative and customize these events to your business’s unique needs and industry. For example, if you’re a massage therapist trying to help the community, you might take a vendor booth at the annual community fair and offer free five-minute massages to attendees. On the other hand, if you run a sports goods store, you might host a 5K run instead and donate the proceeds to the local youth center.
3. Add extra value to boost event engagement.
You’re probably already familiar with the event planning process, from establishing a budget to choosing an event venue to purchasing decorations and hiring vendors. Those tasks are essential parts of creating a successful event. However, to take your event to the next level, look beyond them and consider how you can add extra value.
“Extra value” might seem vague, but it refers to any additional perk, benefit, experience, or activity you can offer event attendees. With this added value, not only will invitees be more likely to attend your event, but they’ll also be more engaged during it.
For instance, let’s say you’re organizing a team dinner for your employees where you’ll announce the winner of your Employee of the Month program. Instead of just making the reservation, you might pay for transportation from your office to the event and cover the price of everyone’s drinks. Additionally, you can have a small trophy or plaque made for the winner. These value-adds will ensure team members show up to celebrate your top-performing employees, resulting in greater workplace satisfaction.
Or, perhaps you run a gym and are hosting a marathon. Through this marathon, you’ll raise money on behalf of a local sustainability nonprofit and invest in the well-being of your community. For an extra value-add, you might take Sneakers4Good’s advice and partner with an athletic shoe reuse provider to collect gently worn, new and used sneakers that you’ll trade for more funds to donate. Additionally, offer runners free swag like t-shirts and water bottles to entice more community members to sign up.
4. Measure your event’s results.
Every event you host is a learning opportunity, as long as you take the time to evaluate your results and determine what you can do to improve in the future. After your event, start by looking at key metrics in your event management software:
- Total registrations
- Number of actual attendees
- Number of new attendees
- Number of returning attendees
- Total revenue generated during the event
- Attendee satisfaction levels
- Engagement rates for specific activities or experiences
Additionally, evaluate metrics even after your event is over. For example, your grand opening may motivate individuals to make purchases even after the event. Or, you might experience elevated hiring metrics for a few weeks after hosting a recruitment event. These give you the big picture of your event’s impact.
Hosting any event is challenging. With these tips, you’re poised to host successful small business events that help you meet your goals, whatever they are!