What is Event Management?

Event management is defined as the process of planning and executing an entire event. It encompasses every stage of the event, from the initial conception of the idea until the event’s completion. Event managers are in demand across various industries while organizations of all sizes attempt to plan events that are immersive, engaging, and memorable. These event professionals have an ability to coordinate the logistics, manage a budget, and think creatively in ways that set themselves apart from others in the hospitality field.

The Importance of Effective Event Management

Event planning has long had a pivotal part to play within the corporate landscape, but in the age of social media and the experience-driven gig economy, it has never been more crucial for companies to invest in effective event management.

According to openPR, the market for event management is expected to grow by $1.8 billion by 2029, as organizations and individuals alike seek to create compelling and cohesive events that make a long-lasting impression on attendees. In addition to in-person events, hybrid and virtual events are expected to continue to be popular because they are considered more innovative, accessible, and — at times — affordable.

Regardless of the type of event being planned, effective event management is necessary. Event managers are qualified professionals who have received extensive industry training that enables them to leverage the most advanced event technology and streamline the event planning process. A highly skilled and qualified event manager will improve attendee satisfaction, achieve organizational goals, and enhance overall event outcomes.

Key Components of Event Management

Event management involves more than simply planning an event: It is the process of overseeing an event from the moment of conception until the experience is complete. Those interested in working in the field of event management will want to understand the core components of this process so they may develop the essential skills required to be successful in this growing field.

Planning and Budgeting

The first part of the event management process requires event managers to plan the event and determine a budget. According to published research in the International Journal of Multidisciplinary Research and Development, preparing the budget is one of the most critical steps of the process; the event manager needs to know the financial parameters they are working with and also must be able to provide their client with insight into whether the event will generate a profit, break even, or operate with a loss.

Event managers in the planning and budgeting stage can streamline this process by:

• Working with clients to determine clear, identifiable, and measurable goals for the event.
• Establishing a budget that they can work with throughout the duration of the event.
• Creating a timeline that lays the groundwork for a successful event.

Clear and direct communication during the planning and budgeting phase can help prevent challenges during the latter stages of the event as well as ensure that the event progresses seamlessly.

Logistics and Operations

Once there is a plan in place for the event and a budget has been approved by the client, the event manager can move forward and begin coordinating the logistics for the event. Whether an event manager is overseeing a private celebration or a corporate conference, they will likely need to work with a variety of vendors to bring the event to life.

Some types of vendors that event managers often partner with include:

• Venues – Event managers typically work with off-site venues, meaning they need to collaborate with venue staff and coordinate the logistics for the event they are planning. In some cases, however, an event manager works directly for a venue, and they are responsible for planning all events that take place at that location.
• Third-party vendors – The number and type of third-party vendors will vary significantly from one event to another — but some types of vendors that event managers may work with include florists, photographers, caterers, musicians, and more.
• Event planners – Sometimes, event managers have to collaborate directly with event planners who work on-site or have been hired by their client.

Given the web of professionals who tend to be involved in executing an event, it’s not surprising that event managers benefit from being attentive, adaptable, and resilient. According to research published in the Industry and Higher Education journal, event managers often navigate complex, challenging, and ever-changing conditions, requiring them to be effective decision-makers and problem-solvers.

Marketing and Promotion

In many cases, an event is only as successful as the number of guests who show up. Event managers are often in charge of marketing and promoting the event, allowing their clients to leverage the event for as much exposure as possible. Marketing and promotion is particularly key to the success of corporate events, as most corporations and businesses are planning events to raise awareness about products and services or increase engagement among their target audience.

Some of the top strategies for marketing and promoting events include:

• Launching social media campaigns.
• Creating email marketing campaigns.
• Developing partnerships to promote events to a wider audience.

Event managers may improve their event marketing strategies by leveraging the power of data. Harvesting data throughout the event planning process can enable event managers to effectively track the success of the event. Event managers should identify key metrics to evaluate and analyze, helping them promote the event to the right audience.

Skills Needed for Event Management

Aspiring event managers will want to cultivate the practical, technical, and soft skills necessary in order to navigate the event planning process. The most essential skills for event planners include:

• Organization – Organization rests at the core of event management, with event managers overseeing multiple facets of the event at any given time.
• Communication – Effective event managers communicate clearly and effectively — not only with their clients but also with the vendors they are working with — to bring the event to life. Event managers should prioritize regular and consistent communication throughout the entire event planning process.
• Budgeting – Event managers should have a solid understanding of the budgeting and finance strategies required for large-scale events.
• Negotiation – Event managers often rely on their expert negotiation skills to secure the best possible vendors for a price that aligns with the budget of the event.
• Creativity – When an organization or individual invests in an event, they want their experience to be something unique and memorable. Therefore, event managers must have a creative eye and leverage the latest trends to design an event that is distinctly authentic and inspiring.
• Technical skills – Event managers are becoming increasingly dependent on technology, including AI-driven event management technology. They should feel comfortable and confident when working with the latest technology in order to streamline the event planning process and improve the outcome of the event.

The Role of Technology in Event Management

Technology is playing an increasingly prominent role in the field of event management, and event managers can expect to rely on advanced technology throughout the duration of their career. Knowing the emerging trends in event technology can help aspiring event managers become more comfortable and familiar with the digital tools needed to effectively plan and execute events in today’s dynamic landscape.

According to the Event Planner Expo 2024, a couple of technology tools and digital platforms poised to define the industry in the coming years include:

• Augmented reality (AR) – AR technology can allow event managers to create virtual events that are immersive and engaging, giving visitors the opportunity to enjoy virtual venue experiences from the comfort of their preferred environment.
• Artificial intelligence (AI) – AI can be a powerful tool for event managers, many of whom will find that they can leverage this technology to assist them throughout each stage of the event planning process.

Event Planning Tools

While event managers are in charge of overseeing every facet of an event, they also are able to use the leading event planning tools to streamline their tasks and improve outcomes. Utilizing the best event management tools, event managers can make better decisions and improve their overall efficiency.

Some of the most popular tools used in event planning include:

• Project management software – Event managers use project management software to ensure that every aspect of the event is moving forward on time and within the confines of the budget.
• Ticketing platforms – Ticketing platforms allow event managers to easily sell tickets to prospective attendees as well as process tickets on the day of the event.
• Analytics tools – The leading analytics tools allow event managers to identify key metrics, collect data, and analyze results. This, in turn, enables them to improve the event planning process, promote the event effectively, and evaluate the success of the event after the fact.

Virtual and Hybrid Events

When the COVID-19 pandemic was in full force, event planners were forced to shift to a virtual and hybrid event planning model due to the public health restrictions in place during that time. However, even in a mostly post-pandemic environment, these types of innovative events still play a central role in the event management field. Depending on the type of event and the number of attendees an organization wants to include, event planners can leverage the most advanced technology in order to create engaging, accessible, and cost-effective virtual and hybrid events.

Career Opportunities in Event Management

The broad scope of the event management field means there is a range of opportunities to explore. Knowing the different career opportunities and possibilities can help those who want to become event managers personalize their educational experience and create a tailored approach to career development.

According to the United States Bureau of Labor Statistics (BLS), some notable roles available in event management include:

• Corporate event planner
• Wedding planner
• Nonprofit event coordinator
• Trade show coordinator
• Convention planner
• Sports and entertainment event planner

How to Pursue an Event Management Career

Pursuing a career in event management means first investing in your education and seeking professional experience in the area where you want to specialize. You may benefit by enrolling in a degree program that offers options for applied and experiential education and in which you can specialize in courses directly related to your desired career path. An event management bachelor’s degree program can provide you with an advanced understanding of the event management industry along with in-demand industry skills — such as media literacy, negotiation, ticketing methods, and venue management.

What Is Event Management? Learn More at Johnson & Wales University

Take a deep dive into the field of event management at Johnson & Wales University. We offer an online Bachelor of Science in Sports, Entertainment, Event Management degree in which students gain insight and skills to strategically plan and execute full-scale events. Graduates move forward with a well-rounded understanding of the event management process that allows them to build upon their foundation and specialize in niche sectors of event planning.

For more information about completing your degree online, complete the Request Info form, call 855-JWU-1881, or email [email protected].