Keeping costs down is high on the priority of many businesses because of the serious impact it can have on the bottom line of your business. This is true in event management when often the profitability of each event can have a huge bearing on the performance of the business over a calendar year. Contra deals are good for lowering costs as they reduce the friction that can happen between trades. Here are some of the ways to incorporate contra deals into your event management.
Sponsorship lends itself well to a contra deal
When it comes to finding funding for your event sponsorship is a route that many go down. Approaching a potential sponsor with an idea of what you want to contra deal with, be it bags, products and other promotional items will make it easier to get the deal done. In return for the items, you can offer the sponsor displayed logos, corporate banners and general branding. This is the perfect example of a mutually beneficial contra deal.
Make sure you develop a strong event contra deal proposal
It can be difficult when proposing a contra deal to not appear like your trying to get something for nothing. With that in mind, you need to develop the right proposal for a contra deal tailored for events.
Start off by giving some details on the event itself. Talk about why you are running the event and the purpose it serves. This will give whoever you are pitching for the contra deal some context. After this give some information on the audience, frame it in a way that illustrates how their business could benefit from getting in front of your customers.
Once you have discussed the event and the audience give some specific details on the event and how it will function. Include dates, times, other partners and topics to establish whether the sponsor can make the event if they are required to do so.
Get in touch if you have any further questions on structuring a contra deal
Contra dealing can be a great way to diversify your business and build relationships with organisations that you would previously have had no contact with. To deal effectively make sure you know how to structure a contra deal and get in touch if you have any further questions.