If you think of the most successful events across the world then you would come up with a list of the comic cons, the major industrial tradeshows, the music festivals or the likes of sunburns and public events that bring together people from various walks of life. If you think of these events, then you would realize that they are all events that have several stakeholders. These are not events of one company or for one product. Even if the larger realm is the same, for instance consumer electronics or home appliances, music or cinema or comics, there are many participants and thus several partners who have a stake.
Collaborating with other industries will always augur well for events.
As long as you can find the right partner and package the messaging well, your event will be a roaring success.
Here are just a few reasons why collaborating with other industries works so well for events.
- Expertise plays an important role. As a company, you would have certain resources and experiences. Another company from a different industry will have its own strengths. When you combine strengths and come up with a collective effort, the outcome will always be better. The sum of two sets of expertise is always greater than one set of expertise. Partnering with other industries will also give you infrastructural leverage. You may have certain types of resources that the other company needs and their infrastructure may be available for you to use during the event. From manpower to tools, an event can always be planned more efficiently with more resources at your disposal.
- The economic advantage is extremely significant. Whenever more than one party organizes an event, the costs get split. It could be an even split or otherwise. You may collaborate with just one partner or several. In every possibility, having a partner onboard will save you money. If at all you don’t wish to cut down on your budget, then the event can be bigger, better and more impactful as you would have a larger financial reserve with all parties chipping in.
- Collaborating with other industries enables cross targeting and cross selling. You could target the audience of another company. The other company can target your audience. It is a mutually beneficial association. Also, the multitude of products and services or the diversity of the event makes it more interesting for the audience.