Monday, March 19, 2012

Planning a Successful Event - Part 2: The M-O-N-E-Y!

I love this Money Bag tree. Growing up as a kid, my mother would always say, "So you think money grows on trees?" But my father on the other hand, had me believing it did because anytime I asked for something, he would produce it in a very short period of time. Let's set the record straight; although it may not grow on trees, it is easy to find once people can see the value in what you are doing.

Partnerships are EXTREMELY important. Consider the potential supporters who will be coming out to your event, and the businesses who would love to have access to them for future revenue. Okay...let's use a cd release party as an example. You already know many of your supporters will be other rappers and psalmists. What services do they need regularly? Of course they need studio time, mastering of their project, graphic design for their cover, possibly management, website development, publicity, promotional t-shirts and really, the list can get a lot longer than this, but we are going to stop here. Notice, I've only mentioned services of interest to artists, but what about the other people who are going to be there? What do people spend their money on? Let me get specific and asks you some direct questions. Do you know any graphic/web designers, dvd or cd replication companies, printing companies, t-shirt design companies, artist management companies, beauty salon and nail salon owners, clothing store owners? Really any business you can think of can be a sponsor of your event, as long as the service or product they are offering is not offensive to the supporters of your event.

Although it may not be a huge source of funding, "some money is better than no money", (one of my father's quotes), consider doing cooperative marketing via your flyer with some of the businesses mentioned in the previous paragraph. Tell those businesses you would be willing to advertise their logo on your flyer if they give you $25-50 dollars. If you are actually printing flyers, 5 people paying at least $50 will get you 5,000 good quality card stock, glossy double-sided color flyers printed and delivered if they are coming through the mail. Definitely, without a doubt, you may even be able to lower your Graphic Design fee by letting the designer know you will list his contact info in small print on the flyer as a way of referring future business to him or her.

If you are a little unsure about which businesses to approach first, start looking through the flyer postings on your friendss walls to see which businesses sponsored their past events, and reach out. You may even reach out to your friend prior to calling on your own to ask if they would be so kind as to facilitate a warm introduction via Facebook or phone.

Cooperative marketing through your flyer is one way of marketing and funding your event; and due to the very small amount of money we are speaking of, very little if any formal paper work would have to be provided; however, if you are seeking funding through a bank, your package will have to be tight unless you have a personal relationship with the bank's manager, you will have to give yourself a little more time. When we return later on this week, we will elaborate and provide links to online examples. Before I close, close, let me emphasize the importance of being a keeper of your word. If you promise someone you are going to include their info on the flyer, make sure their info is not omitted. A few moments of going over the details of your work before submitting it can prevent you from severing relationships.

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