So you have an event coming up, and you need decide: Do you hire an event company or not?
This Event Company Selection Guide (Singapore) by ThunderQuote seeks to help you run through a structured process to answer the following questions:
- Do you need an event company?
- What can an event company do for you, and does the ROI justify the cost?
- How do you tell if an event vendor can provide the service level you need?
- How do you tell if an event company has the capabilities to deliver the event smoothly?
- How do you control risks related to your event provider and the delivery of the event?
This guide takes the form of a simple series of twenty questions in the five major categories, which you can check against your organisation’s needs and the event company in question:
Need For Event Company
- Is your event over 50 pax?
- Is your event important in terms of public relations or branding?
- Does your company lack event management capabilities?
Event Company Engagement Cost-Benefit Analysis
- Is proper execution of the event going to improve / affect the chances of client conversions or media coverage?
- Are there important stakeholders present at the event?
- Is the budget for the event at least $20,000?
Event Company Service Level And Expertise
- Does your event company ask about the objectives, target audience, and intended brand positioning of your event?
- Is your event company proactive in suggesting changes to the scope or delivery mechanisms of your event?
- Does your event company tailor their programme / offering to the specific needs of your audience?
Event Company Capabilities Check
- Has the event company handled events of a similar size (in terms of number of pax) before?
- Handled events of similar scope and type (eg. tradeshow) before?
- Have at least two approved event logistics partners?
- Have at least two approved event marketing partners?
- Have contingency plans for failed vendor / service delivery?
- Have a dedicated project manager / event coordinator for your event?
- Does the event company use clear event checklists and event schedules?
- Produce pictorial proof of good execution of previous events of your type?
Event Company Risk Management
- Does the company have at least 9-12 months of cash reserves?
- Does the event organiser have experience with obtaining the required permits for your event type?
- Does the event planner allow you to pay in milestones or post-event?
Out of these twenty questions,
If your score is below 10, you should be careful about engaging the vendor
If your score is above 10, you can consider the event provider in question.
If your score is above 15, you probably have a good vendor.
If your score is above 18, your vendor is in the higher percentile.
With these in mind, you are now much more well-equipped to identify if you need an event company, and if the event company you have in mind is suitable for you. Find event companies on the ThunderQuote platform in the One-Stop Event Sourcing page.
ThunderQuote is the “Gebiz for businesses” and most comprehensive business services portal in Singapore, Australia and ASEAN , where hundreds of thousands of dollars of procurement contracts are sourced every month by major companies like Singapore Press Holdings, National Trade Union Congress and more.