Events are one of the most effective channels for building brands, pipeline, and growth. But they’re also one of the most scrutinised line items in your marketing budget. To get the investment you need, you’ll need more than enthusiasm. You’ll need a business case that speaks leadership’s language.
Here’s our five-point plan to writing and presenting your events business case.
1. Tie event strategy to business goals
Start with the business problem that your event will solve. Get familiar with your business objectives and align your event strategy to those priorities. Perhaps that’s through media coverage, new business pipeline development, existing customer upsell, or something more specific.
Whatever the priority, you’ll need to demonstrate that an investment in events can move you towards that goal, with a defined outcome within a given timeframe. Be sure to explain that progress using real KPIs that mean something to your c-suite and ladder up to your overall business targets.
2. Understand your audiences
Explain how many people you expect to reach, a top-line summary of the event experience you want to create, and why that is valuable for your target audience. Map out what you want attendees to feel, think, know and do as a result of the event, and link that back to your business goals.
While your external attendees are key, your internal stakeholders are equally if not more important when it comes to getting your budget signed off. Great events often involve cross-functional teams – like marketing, sales, product, finance, etc. – each of which may have their own departmental priorities. Finding internal champions who will support your event business case is so often instrumental in getting the approval you need.
3. Be clear on budget and ROI
State the budget you need, including both the financial cost as well as the expected time and resource required to deliver it. Give a top-line breakdown of what is included and excluded.
Quantify the expected ROI. For example, if your goal is client retention, your strategy is to host an event for renewing customers worth £x in pipeline, and your expected conversion rate is y% within a given period, your ROI for an event with a budget of £z would be £x multiplied by y% and divided by £z. Be realistic with your estimates and don’t overpromise. Likewise, flag any obvious risks and how you will tackle them.
4. Integrate events with existing business initiatives
For extra points, show how you can drive more value from your event spend by supporting other departmental priorities. Events may allow you to gather competitor product intelligence, facilitate media interviews, or tag on leadership meetings with new business prospects. Think about how you can support your internal stakeholders, and how that support can transform your relationship from event execution to strategic partnership.
Likewise, consider how you can turn a one-off event into an event-led campaign with a series of audience touchpoints. For example, test narratives or messaging in pre-event outreach, capture case study interviews and testimonials onsite, and reuse content across other marketing channels post-event.
5. Make approval easy
Now you have all the information, you can build your business case. Your c-suite leaders are strategically minded but time-poor, so make your ask clear and concise. Make it easy for them to digest the details and include a clear implementation plan that they can trust and approve.
Discuss in advance whether your submission should come at specific times of the budget planning cycle, and if ad-hoc submissions are welcomed. Either way, include proof points – emotional triggers such as case studies, real-world examples, and customer feedback add impact to your story.
Speaking the language of leadership is a vital part of managing up. By aligning with their goals, offering proactive solutions, and seeing things from their perspective, you’ll position yourself as a trusted resource and boost your chances of budget buy-in.