What is Event Management and the Role of an Event Company?

Event management is the process of applying business management and organizational skills to envision, plan, execute, and oversee an event. An event company specializes in providing these event management services for all types of events.

Events can range from small in-house corporate meetings to huge conferences, concerts, festivals, weddings, trade shows, and more. Each requires extensive planning, coordination, marketing, budgeting, logistics management, on-site production, and follow-up. That’s where professional event management companies come in.

What Does an Event Management Company Do?

An event management company handles the strategy, planning, production, and management of events on behalf of their clients. Their overarching role is to apply their expertise to turn the client’s vision and goals into a seamless, successful event experience. Common services include:

Concept Development

The event management team collaborates with the client to develop the event concept, theme, purpose, activities, schedule, target attendees, desired outcomes and other planning foundations.

Budgeting and Cost Management

The company creates a detailed budget covering all expenses from venue rental to catering, production, décor, entertainment and more. They work to keep costs aligned with the approved budget.

Venue Sourcing and Contracting

Finding the perfect event venue and negotiating contracts with favorable terms is key. An experienced event company knows how to secure top venue spaces.

Vendor Sourcing and Management

Events require various vendors for services like catering, lighting, rentals, transportation, security and entertainment. The management company handles the RFPs, proposals, vendor selection and contracting.

Program Development

For conferences, weddings and incentive trips, programming all the sessions, schedules, activities and entertainment lineups is a core service the planners provide.

Event Marketing and Promotion

From emails and social media to websites, signage and PR, the event company develops and executes promotional campaigns to attract target attendees and build excitement.

Registration and Housing Management

The planners develop online registration processes, track attendance, coordinate group discounted hotel blocks for overnight guests, and manage other housing logistics.

Event Staffing

Experienced event staff are critical to running activities smoothly. The management team puts together teams of event hosts, technical directors, caterers, security staff and volunteers as needed.

Onsite Logistics Management

At the event itself, the company manages the entire onsite operation from registration, technical production, vendor coordination, schedule adherence and troubleshooting any issues.

Post Event Analysis and Follow Up

After the event wraps, the planners send surveys, reconcile budgets, connect with vendors and venues for payments and feedback, and report back to clients with analyses of what worked well and what could improve.

These encompass the primary responsibilities an event management company undertakes to bring an event to life from start to finish.

Types of Events Planned by Management Companies

Event management companies have expertise across a diverse range of gatherings. Some of the main types of events they specialize in include:

Conferences and Conventions

From massive conventions like Comic-Con to small corporate annual meetings, professional gatherings are a core event type that planners orchestrate.

Trade Shows and Expos

The logistics for sprawling trade shows with hundreds of exhibitors takes immense coordination best left to experienced event pros.

Fundraising Events

Charity runs, galas, golf outings, tournaments and more, planners enable nonprofits to raise more money through strategic events.

Product Launches

Brands hire event companies to create buzz and excitement for product launches, demos and activations through dynamic experiences.

Concerts and Festivals

Huge musical events take enormous planning operations. Management companies work closely with talent, sponsors and vendors to pull them off.

Weddings

Planning a wedding is stressful and time consuming. Hiring a wedding planner alleviates this burden for couples. Planners use their experience and vendor relationships to handle all the details smoothly. This allows the couple to relax and focus on enjoying the big day rather than coordinating logistics. A planner’s expertise manages all the wedding particulars seamlessly.

Corporate Parties

Event companies plan corporate holiday parties, picnics, retreats, golf outings, banquets and other staff events for businesses wanting to treat employees to memorable experiences.

Experiential Marketing Events

To connect directly with consumers, brands engage event companies to produce innovative pop-ups, stunts, installations and immersive branded activations.

City Festivals and Celebrations

From New Year’s Eve fireworks shows to cultural festivals, municipalities enlist event pros to orchestrate public celebrations.

And More…

The possibilities are endless when it comes to customized events, from sporting contests to TV/film shoots to private parties and beyond.

No matter the occasion, specialized event management companies have the extensive experience and manpower to make it happen flawlessly.

Benefits of Hiring an Event Management Company

Why should an organization, brand or individual hire specialists to plan their event versus trying to manage it in-house? There are several compelling benefits that event companies provide:

Expertise and Experience

Top event management companies have executed countless events and can anticipate challenges, avoid pitfalls, and apply best practices honed over years. They have established systems to keep the process smooth.

Staff Resources

A company has a whole team of planners, producers and operations personnel to take on the immense workload of pulling off a large-scale event. Most clients don’t have this level of bandwidth and headcount internally.

Vendor Relationships

Established event management companies have cultivated extensive networks of rental vendors, caterers, venues, AV teams and other specialists to tap into for their clients’ events. Their relationships secure the best service and pricing.

Objective Perspective

An experienced outside company brings an objective, impartial perspective when it comes to important decisions around budget, venue, activities and more. They aren’t limited by internal politics or preferences.

Creative Vision

By specializing exclusively in events, these companies stay on top of the latest event design trends, themes, décor and experiential concepts to infuse their clients’ programs with fresh, creative ideas tailored to the goals and audience.

Risk and Liability Reduction

With their professional oversight, knowledgeable teams reduce the operational risks, legal liabilities, financial risks and other downsides to large-scale events. They ensure adherence to contracts, codes and regulations.

Turnkey Service

Event management companies handle every detail so the client doesn’t have to lift a finger beyond approving the plans and showing up. The planners provide comprehensive, start-to-finish event services.

For organizations wanting to make a splash with conferences, fundraisers, corporate milestone celebrations and more, these benefits make hiring a professional event management company well worth the investment.

Key Factors in Selecting an Event Company

Not all event management companies are created equal. There are several criteria clients should assess to pick the right partner:

Experience: Look for an established company with years of portfolio experience specifically related to your type of event. A corporate meeting planner may not be the best fit to plan a large music festival, for example.

Staff Expertise: Ensure the company’s project teams have solid credentials and depth of expertise across all facets of event planning, marketing, logistics, technical production, vendor management and onsite operations.

Reviews and Testimonials: Client reviews, testimonials and post-event evaluations can give great insights into working relationships, quality of service, and ability to meet goals. These are telling indicators.

Vision and Creativity: Review examples of their past event programming, design aesthetics and experiences to gauge if their vision aligns with yours. The most memorable events combine creative vision and flawless execution.

Scope of Services: Some planners offer full turnkey service while others provide specialized niche services only. Ensure the company offers the breadth of end-to-end services and specific capabilities you require.

Budget Suitability: Candidly discuss typical budgets the company accommodates. Top planners for celebrity weddings and high-end corporate clients may not be cost-feasible for many. Make sure your scale aligns.

Personal Rapport: There should be open communication and collaborative chemistry from the first consultation. You want a client-vendor relationship marked by trust, responsiveness and shared understanding of goals.

Industry Recognition: Top planners receive accolades and recognition from their professional associations and peers for excellence. Awards, media features and speaking engagements are good reference points.

Evaluating event management partners on these criteria ensures you select the right fit for the job and align expectations from the start.

Event Management Pricing and Fees

What does hiring professional event management cost? Pricing varies based on factors like:

  • Type and scale of event
  • Level of service intensity needed (full planning vs day-of coordination only)
  • Overall event budget size
  • Location
  • Duration of planning period
  • Staffing levels required

Event companies typically charge fees in one of three primary models:

Flat Fees: A fixed overall price for services, sometimes with built-in minimums based on factors like guest count.

Hourly Rate: Planners bill by the hour for time invested, such as $50 – $150 per hour based on staff seniority.

Percentage of Total Event Cost: The most common pricing model is charging a percentage fee based on a portion of the total event budget. Fees often range from 10% – 25% depending on budget size and services rendered.

On a $100,000 wedding budget for example, the planner may charge a 20% fee of $20,000. For a $500,000 corporate event, the fee may be 15% or $75,000. High-end planners for celebrity events may charge even higher percentages.

Some planners charge a combination like a lower flat fee plus percentage, or an hourly rate until an approved budget is set. Get all pricing details formalized in a contract. Many planners require clients to pay a deposit upfront, milestone payments during the process, and a final payment once invoices for vendors and rental items are reconciled after the event concludes.

Although hiring a top event management company represents a significant expense, it’s a strategic investment that pays dividends in terms of event success, peace of mind, and elevated experiences that leave a lasting impact. For organizations and individuals wanting to stage major events without all the headaches, experienced pros are well worth the price.

event management and the role of an event company www.phuketeventcompany.com

Jobs in Event Management

Within event management companies or corporate event departments, some of the most common positions and career paths include:

Event Planner/Producer: The end-to-end project lead who oversees all strategy, budgeting, vendor sourcing, logistics, marketing and day-of production.

Event Designer: Focuses on bringing the event creative vision to life through décor, lighting, audiovisuals and experiential elements.

Venue Manager: Specializes in sourcing and contracting optimal venues, as well as onsite venue operations.

Catering/Food and Beverage Manager: Handles menu planning, caterer contracting, food service logistics and execution.

Technical Director/Stage Manager: Leads all production areas like lighting, sound, video, special effects, equipment logistics and stage management.

Registration/Event Technology Manager: Oversees online registration systems, onsite check-in, event apps, live streaming, virtual events and related technologies.

Marketing Manager: Develops positioning, messaging, promotions, social media, email campaigns and public relations for maximum event visibility.

Sponsorship Sales Manager: Seeks and secures sponsorships and exhibitors and manages those relationships and fulfillment.

Logistics Manager: Makes venue, lodging, transportation and scheduling arrangements for smooth attendee journeys.

Staffing Manager: Recruits, hires, trains and oversees event day staffing like ushers, managers, hosts and volunteers.

Operations Manager: Leads real-time onsite direction of events from start to finish, managing staff roles and resolving issues.

For those seeking to turn their passion for events into a career, event management offers exciting, fast-paced roles with lots of variety and opportunities to bring visions to life.

The events world moves fast, with new technologies, experiences and best practices continually reshaping it. Some current trends event professionals follow include:

Hybrid Events: Blending virtual and in-person participation for broader access and engagement.

Sustainability: Eco-friendly event production through reduced waste, energy conservation, locally sourced food and supplies and carbon offsetting.

Experiential Design: Interactive environments where guests immerse themselves in branded activations and shareable social media moments.

Wellness: Incorporating meditation spaces, yoga, massages, fitness breaks, healthy snacks and similar wellness components.

Personalization: Using data and mobile tech to customize offers, experiences and recommendations for each guest.

Virtual and Augmented Reality: Providing VR and AR experiences, especially for corporate training events, conferences and marketing activations.

Mobile Event Apps: Robust apps that facilitate schedules, networking, gamification, offers, ride shares, surveys and event chat.

Big Data Analytics: Collecting and analyzing attendee data before, during and after events to personalize engagements and demonstrate event value.

Purpose-Driven: Aligning events with social causes through fundraising, advocacy messaging, volunteerism and charitable components.

Contract Negotiations: Clients seek shorter contracts and more flexibility around cancelations, dates, pricing and minimums as uncertainty lingers post-pandemic.

Staying ahead of trends like these allow event management pros to continually refine and elevate the event experiences they create.

The Future of Event Management

Looking ahead, event management will continue evolving as virtual and hybrid events become more seamlessly integrated. Data and mobile apps will drive greater personalization and interactivity. Events will champion sustainable practices and social responsibility. And experiential design will make real-world gatherings more multi-sensory and captivating, rebuilding momentum post-COVID.

But fundamentally, skilled professionals overseeing every detail while adapting in real-time will remain mission critical for success. Their expertise crafting imaginative, flawlessly executed events will be in high demand, especially as the pent-up desire to reconnect in person is unleashed.

Despite uncertainties in the world, people will always seek to assemble, celebrate, learn and be inspired together. That timeless, universal desire for community and connection is at the core of the irreplaceable value brought by professional event managers. Their role curating phenomenal live experiences that engage audiences, accomplish goals and build organizations will only grow in importance.

In summary, event management encompasses the meticulous orchestration of every detail and logistics element to produce memorable events that spark ideas, strengthen relationships and take organizations to the next level. Event companies are invaluable partners for bringing bold visions to life. Their creative minds, operational rigor and passion for crafting moments that matter make success possible.