As an event professional or business owner, you know the hustle of creating memorable experiences. But are you maximizing your profits while doing it?
A smart event package strategy for your services is your secret weapon for streamlining your operations, and ultimately, boosting revenue. We’re here to guide you through building a packaging strategy that not only helps you attract clients, but also optimizes your bottom line through upselling and cross-selling.
Planning Pod is the original all-in-one event management platform for venues and professionals, providing thousands of businesses with smart tools that save time, reduce stress, and increase revenue. Get started today!
Why package your services?
Depending on your business model, target audience, and types of services you offer, you may or may not already be offering packages to your clients. For example, if you offer a wide range of highly specialized services, clients may need very specific combinations that are hard to cover with pre-set packages. Or, if your client base has extremely diverse needs and budgets, you might be offering services a la carte for maximum flexibility.
If the shoe fits, those techniques are completely viable – but for most event businesses, the clients served aren’t so varied as to warrant an exclusively itemized pricing strategy.
Let’s break down the benefits of offering packages to your event customers:
- Increased revenue: Packages encourage clients to spend more by bundling services they likely need anyway. It’s often easier to sell a $5,000 package than individual services totaling $4,000, as long as you justify any additional cost with data and client testimonials to back it up.
- Improved customer experience: Packages simplify the decision-making process for clients (and reducing decision fatigue alone is of high value to them). They typically appreciate the convenience of choosing a pre-built solution that meets their needs.
- Simplified pricing: Clear, concise package pricing reduces back-and-forth negotiations and makes event budgeting easier for both you and your clients.
Crafting compelling packages: The key to success
A successful package isn’t just a collection of services – it’s a carefully curated offering that resonates with your ideal client.
First, know your ideal client. Understanding your target audience is of paramount importance. What are their needs, preferences, and budget constraints? Are they looking for a luxurious gala or a casual corporate gathering? The more you know, the better you can tailor your packages.
Be sure to bundle smartly. Your packages need to make sense, so create them by combining complementary services that clients typically use together. Think venue rental + catering, event planning + decor, or entertainment + photography. This creates a package with a cohesive and convenient offering.
Create tiered packages for every budget. It’s advantageous for you to offer different package tiers (like Basic, Premium, and Deluxe packages) to cater to a wider range of budgets. This allows you to capture clients at various spending levels.
Communicate package value clearly. Don’t just list the services included in your packages; highlight the benefits of each package. Emphasize the value, savings, and convenience they offer. Use persuasive language, visuals, client testimonials, and real data. Numbers don’t lie!
Upselling & cross-selling: The profit multipliers
Here’s the tea: your packages are really just the starting point. If you’re looking to significantly boost your revenue, you need to go a step further with strategic upselling and cross-selling.
But how?
Identifying upsell opportunities
Identifying upsell opportunities is crucial for maximizing revenue and enhancing the overall event experience. Here are a few examples:
- Premium decor packages that go beyond the basics (upgraded linens, custom centerpieces, or a more elaborate floral design)
- Enhanced AV equipment (larger screens, professional lighting, or a multi-speaker sound system to create a more immersive atmosphere)
- VIP experiences that add a touch of exclusivity and luxury (a dedicated lounge area, early access to the event, or personalized meet-and-greets with speakers/performers)
- A dedicated event manager to provide invaluable support (handling logistics, coordinating vendors, and ensuring everything runs smoothly – freeing up the client to enjoy their event)
- Champagne toast
- Late-night snack bar
- Post-event cleaning services for added convenience
The list goes on. The key is to anticipate the client’s needs and priorities, and then offer upgrades that genuinely enhance the event and provide value beyond the standard package they chose.
Cross-selling related services
Cross-selling related services is a powerful way to boost revenue and enhance the client’s overall experience. This involves offering complementary services that aren’t already included in the chosen package, anticipating needs the client may not have considered.
A few examples:
- A client books a corporate event package that includes catering and venue rental, and you cross-sell professional photography or videography to capture the event’s highlights.
- A wedding package might include the ceremony and reception spaces, but you could cross-sell transportation services for the wedding party or guests, ensuring a smooth and organized experience.
- Events held at private residences or venues without dedicated cleaning staff could use post-event cleanup as a valuable cross-sell
- A client has booked a conference package, and you can add significant value by cross-selling services like on-site childcare, personalized name badges, or a dedicated tech support team.
The key is to identify those extra touches that can elevate the event and provide a more comprehensive, convenient solution for the client, all while increasing your revenue stream. By proactively offering these related services, you position yourself as a one-stop shop for all their event needs.
Personalizing your recommendations
Personalizing your recommendations is absolutely crucial for effective upselling and cross-selling. It’s not about pushing the most expensive options; it’s about understanding each client’s unique needs and budget, then suggesting relevant upgrades and add-ons that will genuinely enhance their event.
Here’s what we mean:
- If a client is planning a small, intimate birthday party, suggesting a premium DJ and a large-scale photo booth might be overkill. Instead, a more personalized approach would be to recommend a talented acoustic musician and a smaller, more budget-friendly photo booth option, possibly combined with a custom-designed backdrop.
- For a large corporate gala, higher-end options might be perfectly appropriate, and you could further personalize the recommendation by suggesting a videographer to create a highlight reel of the event, or a VIP lounge area with dedicated catering.
Consider the client’s industry, the event’s purpose, and their stated priorities:
- Client focused on sustainability? Suggest eco-friendly decor options or locally sourced catering.
- Tech-savvy client? Offer interactive entertainment or a custom event app.
By tailoring your recommendations, you demonstrate that you’re truly listening to their needs, building trust and increasing the likelihood of a successful upsell or cross-sell. A personalized approach like this transforms the sales process from a transaction to a collaborative partnership.
Planning Pod’s event management platform includes proposal tools and templates that make it easy to personalize your recommendations to clients. Learn more >>
Your upselling secret weapon: Partial service packages
Enticing clients with starter packages is a strategic way to attract budget-conscious individuals who might initially be hesitant to commit to a larger investment. These basic packages act as a “foot in the door,” offering a taste of your services at a more accessible price point.
For example, a starter wedding photography package might include coverage of the ceremony and a limited number of posed shots, while a more comprehensive package would add the reception, bridal party preparations, and a larger album.
Similarly, a corporate event starter package could cover a half-day meeting space rental with basic AV equipment, while a premium option would include a full-day rental, advanced technology, and catering.
You want to design these starter packages to be appealing, yet clearly demonstrate the value of upgrading. They should provide enough value to satisfy a basic need but also subtly highlight what’s missing compared to the more comprehensive offerings. This could be achieved by limiting the number of hours of service, the quantity of deliverables, or the level of customization.
By offering these entry-level options, you broaden your reach to a wider audience and create an opportunity to build relationships with clients who may eventually upgrade to higher-tier packages as their needs evolve or their budget increases. It’s about demonstrating your expertise and building trust, making it easier for clients to say “yes” to a more comprehensive solution down the line.
Highlight the benefits of full service
Once a client has expressed interest (particularly if they’ve opted for a basic or partial service package), the opportunity to highlight the benefits of a full-service upgrade becomes crucial.
Don’t just list what’s included; paint a vivid picture of the positive impact a full-service package will have on their event and their peace of mind. Emphasize the significant time savings they’ll experience. Instead of coordinating multiple vendors, managing logistics, and troubleshooting issues themselves, your team handles everything.
For a wedding, this could mean the difference between the couple spending weeks stressed out coordinating caterers, florists, and DJs versus enjoying their engagement and leaving the details to the professionals. For a corporate event, it could free up the event planner to focus on strategic goals rather than getting bogged down in logistical minutiae.
It’s crucial to underscore the aspect of reduced stress. Planning any event is inherently stressful, but a full-service package alleviates that burden. Clients can relax knowing that experienced professionals are managing every detail, from vendor communication and setup to on-site coordination and problem-solving.
Most importantly, showcase how a full-service approach leads to improved results. Explain how your expertise, established vendor relationships, and comprehensive management style translate to a more polished, professional, and ultimately successful event. If you have case studies or testimonials demonstrating how full-service clients achieved their event goals more effectively, now’s the time to use them. And quantify the benefits whenever possible, providing metrics that matter to your client (like attendee engagement).
By focusing on time savings, stress reduction, and superior outcomes, you can effectively demonstrate the value of upgrading to a full-service package and convert hesitant clients into satisfied, full-service partners.
Measuring success
If you’ve read our other blog posts, you know where we’re going now – no strategy is complete without processes to monitor the success of your pricing and packaging strategies.
Start by tracking key metrics like package sales, average order value, customer satisfaction, and profit margins. This data provides valuable insights into the performance of your offerings.
Next, analyze this data to identify trends: Which packages are the most popular and profitable? Are there any packages that are underperforming or not resonating with your target audience? This analysis will reveal areas for improvement.
Finally, use these insights to continuously refine your packaging strategy. Adjust your pricing, service offerings, and upselling/cross-selling strategies based on the data. Remember, the market is always evolving, so your packaging strategy should be dynamic and adaptable to stay ahead of the curve and maximize your profitability.
Streamline your event package management with Planning Pod, the original all-in-one platform for venues and professionals. Thousands of businesses use our smart tools to effortlessly create, manage, and sell diverse event packages, saving time, reducing stress, and boosting revenue. Get started today!
