How can you negotiate feedback on the financial aspects of an event?

1 Set clear expectations

Before you start planning an event, you should discuss with your client or sponsor what kind of feedback they expect from you and what kind of feedback you need from them. You should agree on the goals, the scope, the timeline, and the budget of the event, and how you will measure and report on them. You should also clarify how often and how you will communicate with them during and after the event, and what kind of feedback format they prefer. For example, do they want a written report, a presentation, a survey, or a meeting?

2 Collect and analyze data

To provide and receive feedback on the financial aspects of an event, you need to collect and analyze data. You should track and document all the costs and income related to the event, such as venue rental, catering, marketing, ticket sales, sponsorships, donations, etc. You should also measure and evaluate the outcomes and impact of the event, such as attendance, satisfaction, engagement, awareness, leads, sales, etc. You should use tools and methods that are reliable, accurate, and transparent, such as spreadsheets, invoices, receipts, surveys, analytics, etc.

3 Highlight the value

When you share feedback on the financial aspects of an event, you should highlight the value that you delivered and the value that you received. You should show how you managed the budget efficiently and effectively, how you reduced costs and increased revenue, how you met or exceeded the goals and expectations, and how you demonstrated the return on investment of the event. You should also acknowledge and appreciate the value that your client or sponsor provided, such as support, guidance, resources, feedback, etc.

4 Address the challenges

When you receive feedback on the financial aspects of an event, you should address the challenges that you faced or the areas that you can improve. You should listen to the feedback with an open mind and a positive attitude, and ask for clarification or examples if needed. You should also explain the reasons behind your decisions and actions, and how you dealt with any issues or risks that arose. You should not take feedback personally or defensively, but as an opportunity to learn and grow.

5 Seek solutions

When you negotiate feedback on the financial aspects of an event, you should seek solutions that benefit both parties. You should not focus on the problems or the blame, but on the opportunities and the actions. You should identify and prioritize the main points of agreement and disagreement, and propose and discuss possible alternatives or compromises. You should also set and follow up on action plans and deadlines, and monitor and report on the progress and results.

6 Build relationships

When you exchange feedback on the financial aspects of an event, you should build relationships with your client or sponsor. You should show respect, honesty, professionalism, and gratitude in your communication and interaction. You should also provide and request feedback regularly and consistently, and not only at the end of the event. You should also seek and offer feedback on other aspects of the event, such as the design, the execution, the quality, the satisfaction, etc. By building relationships, you can enhance your reputation, increase your referrals, and secure your future projects.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?