Live Event Production Frequently Asked Questions

You have questions. We have answers. Here are some top-level event production questions that many people ask us. Want to get specific?

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ABOUT VENUES

As you can imagine, venue rental fees can vary greatly, mostly due to the location you are in, and the venue size that your event requires. The Towerhouse team is expert at venue procurement and contract negotiation. We got this!
The short answer is that you should plan on committing between 30 to 50% of your event budget to secure your venue.
That one’s easy, ask Google! The search engine is the quickest and easiest to find answers to hyper-local venue questions.
Baseball stadiums generally hold the most attendees, averaging around 40 to 70 thousand people. Have something big planned? Towerhouse is your go-to choice for executing large events.
Venues can include a variety of fees that are associated with services provided for your event. Services that you might select for your venue include security, maintenance, janitorial, load-in/load-out, and much more. Sit back and let Towerhouse negotiate with the venue about all this, since we provide many of these services ourselves.

ABOUT EVENT ROI (return on investment)

Using this easy calculation, you can set out at the start of planning your event what you hope to achieve in terms of ROI. Total Sales Revenue / Total Cost of the Event = $ return per $1 invested.
Good ROI event management can be defined in a lot of different ways, but in simple terms, “good ROI” is when the value generated by the event — however we choose to define that — exceeds the cost of putting the event on. ‘Value’ for a corporate event can be defined a variety of ways, not just monetarily, such as generating qualified leads, attracting new employees, and building brand awareness
For corporations, all event metrics measurement starts by closely monitoring total revenue. After all, 52% of business leaders believe that, when it comes to marketing, event marketing is their primary driver of ROI, so the total revenue figure is key.
Sponsorship ROI is often measured by comparing the cost of the sponsorship with the revenue or value generated by it. Sponsorship ROI is usually expressed as a percentage or a ratio.
ROI is traditionally calculated by subtracting the initial cost of the investment from its final value, then dividing this new number by the cost of the investment, and finally, multiplying it by 100. ROI has a wide range of uses and Towerhouse is here to help you maximize it for your next event!

NEED A PRODUCT LAUNCH TEMPLATE?

A product launch plan is a detailed strategy that outlines the necessary steps and activities to successfully introduce a new product to the market. It typically includes a timeline, budget, marketing and advertising strategies, and sales goals.

The plan is designed to create excitement and anticipation for the new product, generate interest from potential customers, and ensure a smooth and successful launch. A well-executed product launch plan can establish clear objectives, improve Internal communication, and increase sales.

1. Conduct audience and market research
2. Develop product positioning and messaging
3. Hold a launch brainstorming session
4. Map out your go-to-market strategy
5. Define your launch goals and KPIs
6. Create promotional materials
7. Launch your product!

A product launch checklist is a document to ensure that all aspects of your launch have been considered, documented, and executed. Product launch checklists help you think through all of the processes, steps, assets, and other things your team will need to do and prepare for, including possible mistakes, before your launch. With a checklist to follow, you won’t have to worry about skipping an important step or forgetting an asset along the way.

When selecting a venue for a product launch, consider the following factors:

Brand Identity: The venue should align with your brand’s image and message. For instance, a luxury product might be best showcased in a high-end hotel or gallery rather than a casual restaurant.

Audience: The venue should captivate and engage your audience without overshadowing the product. Ensure it is spacious enough for comfort and visibility but not so large that it feels empty if not fully occupied.

Product Type: Choose a venue that complements the product. For example, an outdoor space might be ideal for products designed for outdoor use, while a modern art gallery could be perfect for a tech product.

Generally, a small-scale launch party can range from $5,000 to $10,000 while larger events may exceed $100,000 or more. It is important to consider your budget when planning a launch party so that you don't overspend or end up with an inadequate budget for your desired outcome. The team at Towerhouse are expert at maximizing every dollar you invest into your next event.

PRODUCT LAUNCH EVENT IDEAS

Here are some tips for planning a successful product launch event:

Set Goals: Define your target audience and determine what you aim to achieve with the event.

Choose a Venue: Select a venue that is spacious enough to accommodate your guests and event elements, while also fitting within your budget.

Pick a Date and Time: The chosen date will influence other planning aspects, such as preparing inventory and sending out invitations.

Delegate Tasks: Assign specific planning responsibilities to different team members.

Promote the Event: Use branded hashtags to engage your audience and extend your
reach. Collaborating with industry influencers can help generate pre-event buzz.

Here are some creative ways to launch a product:

Influencer Marketing: Collaborate with influencers to develop unique marketing strategies that distinguish your product from the competition.

Countdown Timer: Initiate a countdown several weeks before the launch to build anticipation and encourage customers to sign up for updates.

Hashtag Campaign: Use a consistent hashtag across all channels to create buzz and maintain cohesive messaging.

Teaser Campaign: Share intriguing but vague content on social media to spark interest and anticipation.

Storytelling: Identify your target audience’s needs and collect customer stories that demonstrate how the product meets those needs. Use these stories to create emotional connections that drive action.

Networking: Encourage guests at your launch event to connect with like-minded individuals and form valuable contacts.

Brand Partnerships: Form strategic partnerships with complementary brands or influencers to co-create and promote your product, helping you reach new audiences and expand brand awareness.

Creative Theming: Incorporate entertainment, interactive elements, creative venue spaces, and thematic design into your launch event to make it memorable and engaging.

1. Put the focus on your people, not the product
2. Get opinion leaders on-board early
3. Be revolutionary – in both approach and execution
4. Turn your product launch into an event – Towerhouse can help!
5. Take pre-orders
6. Release a product your customers will want to show off
7. Draw out the suspense as long as you can

The cost to launch a product can range from $10,000 to over $10 million, and the cost of a product launch event can vary widely. According to gocadmium.com, the average company spends 14% of its annual marketing budget on events. If you have a budget in the tens of thousands of dollars, it’s important to set guardrails to avoid overspending or misallocating funds.

WHAT IS EXPERIENTIAL MARKETING?

Experiential marketing is a marketing strategy that creates unique experiences for customers to engage with a brand. It can also be called engagement marketing, event marketing, or XM. Experiential marketing can take place online or offline and can
include digital components. Some examples include pop-up stores, tours, brand activations, classes, workshops, seminars, and one-off events or parties.

Marketing is the process of generating interest in a company's products or services, while experiential marketing is a method of creating experiences for customers.
Involves market research, analysis, and understanding of the target customer's interests. Marketing can include a variety of activities, such as advertising, public relations, content marketing, and social media marketing. Marketing goals can include increasing brand awareness, generating leads, and improving customer engagement.
Focuses on creating unique and fun experiences for customers to connect with a brand. Experiential marketing can include live events, conferences, pop-up stores, trade shows, webinars, and augmented reality (AR) campaigns. Experiential marketing goals can include forming long-lasting connections with the target audience and increasing purchases.
Event marketing is a type of experiential marketing that focuses on promoting a brand at specific events, such as trade shows and conventions. Experiential marketing is a broader strategy that can include events, but can also operate independently. Both strategies aim to engage audiences, but they differ in their methodology, intent, and outcomes.
The primary goal is to inform, educate, or showcase a brand, product, or service directly to the audience. Event marketing can amplify a brand's presence at events that audiences are already attending, but it's somewhat limited by the event's schedule and confines.

Experiential marketing can face many challenges, including:

Cost

Creating immersive experiences can be expensive, and not all brands have the budget to pull off a successful campaign. Experiential marketing can also be more difficult to get funding for than traditional marketing, which has standardized metrics and is cheaper.

Staffing
Experiential marketing often lacks the necessary personnel to execute complex campaigns and intricate logistics. This can lead to poor planning and execution, and underwhelming results. Inexperienced staff can also be a problem, as they may not be
able to answer questions or promote the brand to consumers.

Creating memorable experiences
Developing original and creative ideas that stand out in a crowded marketplace can be difficult.

Measuring ROI
With budgets slowing, marketers will be under pressure to prove that their experiences are helping the brand. ROI will be key to unlocking increased budgets, headcount, and scalable strategies.

Project management and execution
Experiential campaigns are often managed in silos, with many processes being manual. Brands may also focus too much on the physicality of the experience, and not enough on the workflows and processes that help connect, personalize, and measure it.

According to PortMA, an experiential marketing ROI of 160% is considered above average. According to EMI & Mosaic, 48% of brands see a ROI of 3:1 to 5:1 from their events and experiences, while Statista says 44% of marketers see a 3:1 ROI.

LOOKING FOR A CORPORATE EVENT VENUE?

1. Find a space that fits your agenda
2. Prioritize accessibility
3. Don’t forget acoustics
4. Ask around for testimonials
5. Understand all the fees
6. Choose a location suited for transportation
7. Make room for a green room
8. Choose a venue that fits your brand
9. Food & beverage accomodations
10. Make a sustainable effort

Top corporate event venues offer amenities and services that make the event experience more comfortable and convenient for attendees.

These can include:

Audio/visual equipment: Modern technology like projectors, TVs, screens, microphones, and sound systems to support presentations, videos, and other visual elements

Catering: A variety of options, from full-service meals to refreshments, that can accommodate dietary restrictions and be customized to fit the event’s theme

Furniture: Comfortable seating arrangements and the right furniture can impact the atmosphere of the event

Internet access: High-speed, reliable Wi-Fi allows attendees to stay connected and access information

Parking: Enough parking, including valet parking or shuttles, can make it easier for guests to attend the event

Restrooms: Clean, well-maintained restrooms are essential

Signage space: Important for event planners, especially for business events

Tech support: Especially for events that require special audiovisual equipment

Versatile event spaces: Customizable areas that align with the event’s theme and requirements

Here are some unique event spaces for corporate events:

Art galleries or museums
These venues can be sophisticated and intimate, and you can book them privately to avoid crowds. For example, the Denver Art Museum has 356,000 sq ft of event spaces that can accommodate up to 10,000 people.

Warehouses or industrial spaces
These venues offer a blank canvas that can be decorated and used for activities and entertainment.

Botanical gardens
These outdoor venues can be great for intimate corporate gatherings. For example, the Atlanta Botanical Garden has over 30 acres of green space.

Some other unique event spaces include:
EXDO Events Center: Located in Denver’s RiNo Arts District, this venue is surrounded by art spaces, graffiti, breweries, and restaurants.

Chihuly Museum: The Glasshouse, Exhibition Galleries, and Garden Plaza at the Chihuly Museum in Seattle are impressive settings for corporate events.

Georgia Aquarium: The Oceans Ballroom at the Georgia Aquarium has two large aquatic observation windows that offer guests a unique experience.

The average per-person cost for a conference can range from $500 to $2,500. These costs can obviously run much higher, but we've found that the average conference comes in around this range. Total conference costs can range from $150,000 up to over $3,000,000.

Event marketing partners can help you promote your event to a wider audience, access expertise and resources, and build relationships. Event partners are actively involved in planning the event and finding attendees, not just providing exposure through a logo or banner.

Here are some benefits of having an event marketing partner:

Wider audience reach: Partners can help you expose your event to different audiences.
Access to expertise and resources: Partners can contribute their expertise and resources to benefit your brand.

Relationship building: Working together with partners can help you build your reputation and credibility.

DO YOU NEED A CORPORATE EVENT PLANNER?

Hiring a corporate event planner can help with many aspects of event planning, including:
Cost-efficiency
Event planners can help you create a realistic budget and negotiate with vendors to get. the best deals. They can also help you manage your budget effectively to avoid extra expenses.

Time-saving
Event planners can save your team time that might otherwise be spent on event planning.

Expertise
Event planners have experience and knowledge of the event industry and can help you plan a unique and memorable experience. They can also help you stay up-to-date on the latest trends.

Stress reduction
Event planners can act as a neutral mediator between people with different opinions and emotions, which can help reduce stress.

Problem-solving
Event planners have a network of vendors, artists, and other service providers who can help you solve problems quickly.

Charged with creating experiences and bringing visions to life, an event planner is adept at juggling many tasks. Scouting locations, soliciting bids, managing vendor relationships and client communications, creating and negotiating contracts, and managing budgets are all event planner responsibilities.
Event marketing is like event planning in that it also involves planning, organizing, and executing an event, but they do it to promote a brand, a service, or a product. Essentially, event marketing is everything that is done before the clipboard comes out—and what's done after it's put away.

Another major factor when looking at event planner hourly rates is your specialty. Just as tax attorneys can expect to make more money than public defenders, your event planner subtype will help determine your earning potential. We went on Salary.com to find the average hourly rates for each type of event planner. Keep in mind that these are just an average, without accounting for the factors we mentioned above.

Average event planner hourly rates by specialty:

Wedding Planners $18/hour
Corporate Planners $30/hour
Catering Services Planners $20/hour
Private Party Planners $28/hour
General Event Planners $23/hour