Business development involves identifying new business opportunities, marketing opportunities, partnership opportunities, new markets, after sales follow up as well as generation of orders, sales and leads. The key to successful business development in event-industry is to stay abreast with the latest news in the industry and to keep a close eye on what your competitors are doing in terms of business development and marketing strategy.
In this industry, event-managers generally get business through outsourced work. This work can be an outsourced social-event, corporate-event, charitable-event etc. For e.g. if I run an organization and I wish to organize a product launch to promote my product, then I will prefer to outsource my work to an event-management-company as they are better experienced and equipped with logistics required to organize an event in the most effective and efficient manner. If event-management-activities become an integral part of a company, then it may open up an event-management-department to cut down the production and marketing cost.
Over the last two decades, the event-management-industry has grown exponentially and turned into a 500 billion dollar industry. To voice the concerns of the event-planners and help them in producing outstanding results for their clients, many event-management-associations like ISES (International Special Events Society), IFEA (International Festival and Events Association) etc are there. These associations can also be used to get businesses. Social networking sites like Facebook, MySpace, Orkut etc can also be used for business development. Since not all events are of same size, it is possible to manage only those events which you can afford to manage both in terms of budget and manpower. Event-management is all about networking. More contacts you have, higher is your probability of getting clients.
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