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How can you fund your conference more effectively?

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Organizing a conference can be an exciting and rewarding experience, but it also comes with a lot of challenges, especially when it comes to funding. How can you secure enough money to cover your expenses and make your event a success? Here are some tips to help you fund your conference more effectively.

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Anne Day

Founder of Company of Women and Full Circle Publishing
Manish Gupta

Asst Director of Housekeeping at SLS Dubai | Ensuring Exceptional Guest Satisfaction and Operational Excellence
Meike Neitz

Founder & MD of embassidy | ?? Event MC | ?? Digital Ambassador Europe - Africa | ??40 under 40 | ??Pitchtraining &…

1 Identify your costs

The first step to fund your conference is to estimate how much it will cost you. You need to consider various factors, such as the venue, speakers, catering, marketing, staff, equipment, and contingency. Make a detailed budget and prioritize your expenses according to your goals and expectations. You can use online tools or templates to help you create a realistic and accurate budget.

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Anne Day

Founder of Company of Women and Full Circle Publishing
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I've found it's about building relationships with your sponsors/funders. Get to know them. Meet with them when you are NOT asking for money. Say thank you - personally and publicly. Make it a win-win for all involved. One of my sponsors had just had a baby girl - I got a gift for the family. Small touches go a long way.

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Aniel Dinesh Jeroen Chandrikasingh

Finance Professional | Risk Management | Portfolio Management | Data Analytics
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What can really help is to focus on dedicated sponsors per re-occurring event. This will help the sponsor expand his/her network in a planned way. I would really avoid demanding too much from the same sponsor(s) for very different events. Furthermore I would advice to keep the sponsor in the loop regarding the event, without going into the details of it. Of course showing some genuine appreciation regularly will help build durable win-win relations.

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2 Explore your options

The next step is to explore the different sources of funding available for your conference. Depending on your theme, audience, and objectives, you may be able to access grants, sponsorships, donations, or crowdfunding. Each option has its own advantages and disadvantages, so you need to weigh them carefully and choose the ones that suit your needs and values. You also need to research the eligibility criteria, application process, and reporting requirements for each source of funding.

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Nazim Sawant
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Securing adequate funding for a conference is crucial for its success. One effective approach is diversifying funding sources. This can be achieved through strategic sponsorships, where tailored packages attract businesses aligned with the event's theme. Additionally, curating topics for Panel Discussions and Keynote sessions can help in maximizing ticket sales which can bolster financial support.

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3 Create a value proposition

The third step is to create a compelling value proposition for your potential funders. You need to show them how your conference can benefit them and what they can expect in return for their support. For example, you can offer them exposure, recognition, networking opportunities, or access to your audience. You also need to demonstrate your credibility, expertise, and impact in your field and explain how your conference aligns with their mission and vision.

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Meike Neitz

Founder & MD of embassidy | ?? Event MC | ?? Digital Ambassador Europe - Africa | ??40 under 40 | ??Pitchtraining & Storytelling | Talks: ?Startups ?GreenTech ?EcosystemBuilding ?Books
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This is a very important point: Organizers need to be able to formulate a strong "WHY" that is highly individual, i.e. may differ a lot from partner to partner. In order to do so, organizers need to have a deep understanding on the needs and strategic alignment of potential partners - and speak their language in order to communicate at eye level.

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4 Build relationships

The fourth step is to build and maintain relationships with your funders. You need to communicate with them regularly and keep them updated on your progress and challenges. You also need to thank them for their contribution and acknowledge them in your promotional materials and during your event. You also need to follow up with them after your conference and provide them with feedback and outcomes. By building trust and rapport, you can increase your chances of securing future funding and referrals.

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Manish Gupta

Asst Director of Housekeeping at SLS Dubai | Ensuring Exceptional Guest Satisfaction and Operational Excellence
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So true building relation definitely help and need to make sure to give feedback to our partner that how great event went and the success credit goes to them as well this will make them feel valued and they will be excited for future partnerships.

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Helen Hirsh Spence

TEDx & International Keynote Speaker, Age Provocateur & Mindset Shifter, Longevity Literacy Coach and Trainer
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When seeking funders, the very first step is to build authentic, sincere, trusting relationships that are based on genuine interest. The money will follow if you are credible and reliable as a partner.

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5 Diversify your income

The fifth step is to diversify your income streams and reduce your dependence on external funding. You can generate revenue from your conference by charging registration fees, selling tickets, offering memberships, or creating products or services related to your theme. You can also leverage your conference as a platform to promote your own brand, products, or services and attract new customers or clients. By diversifying your income, you can increase your financial stability and sustainability.

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Radhika Arora

Events and Exhibition
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Diversifying your income streams is akin to building a robust financial foundation for your conference. Depending solely on external funding, such as sponsorships or grants, can leave your event vulnerable to fluctuations in the economy or changes in sponsor priorities. By spreading your income sources, you not only increase your financial stability but also gain more control over your conference's financial destiny.

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6 Monitor and evaluate

The final step is to monitor and evaluate your funding performance and learn from your experience. You need to track your income and expenses and compare them with your budget and projections. You also need to measure your return on investment and assess the effectiveness of your funding strategies. You also need to collect feedback from your funders, attendees, speakers, and staff and identify what worked well and what can be improved. By monitoring and evaluating, you can optimize your funding process and plan better for your next conference.

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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?

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Meike Neitz

Founder & MD of embassidy | ?? Event MC | ?? Digital Ambassador Europe - Africa | ??40 under 40 | ??Pitchtraining & Storytelling | Talks: ?Startups ?GreenTech ?EcosystemBuilding ?Books
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I would add that despite the need to do fundraising, organizers will need to stay credible in order to sustain long term partnerships. If I see a conference agenda that exactly matches the corporate sponsors list I'm immediately pulled off - that basically means that the sponsors have bought themselves on stage as opposed to conference organizers very consciously curating the contant and speaker selection in order to ensure the highest event quality

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How can you fund your conference more effectively?

1

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3

4

5

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7

1 Identify your costs

2 Explore your options

3 Create a value proposition

4 Build relationships

5 Diversify your income

6 Monitor and evaluate

7 Here’s what else to consider

Conferences

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How can you fund your conference more effectively?

1

2

3

4

5

6

7

1 Identify your costs

2 Explore your options

3 Create a value proposition

4 Build relationships

5 Diversify your income

6 Monitor and evaluate

7 Here’s what else to consider

Conferences

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