Verified Market Research, a leading global research and consulting firm, expects the global events industry to bring in a whopping $2.194 trillion by 2028. If your goal is to establish a successful event career, selecting a niche and positioning yourself as an expert can elevate your credibility in the market.
Wondering how to pinpoint your ideal niche? In this blog, we’ll delve into the broad classification of event management niches, discuss the advantages of narrowing down your focus, and guide you on choosing a niche that aligns perfectly with your aspirations.
The Top 3 Advantages Of Choosing An Event Niche
Picture this: You are in charge of your best friend’s wedding planning—now, who would you turn to for help? A jack-of-all-trades event planner or a seasoned specialist in weddings?
You get the point. A seasoned wedding planner will better know the nuances of planning a wedding than any other kind of event planner.
Here’s how choosing a niche can give you a competitive edge:
High-Converting Referrals
Specialising in a particular niche helps you build connections within the same circle, leading to referrals with higher conversion potential.
For example, if you aspire to be a top-notch celebrity event planner, channelling 100% of your efforts into celebrity events will help you create focused connections in the industry. These connections will get you more concentrated referrals and add up to your long term growth. In contrast, dividing your efforts among different event types—like music festivals and corporate seminars—can dilute your contacts and hinder your overall growth.
Premium Rates For Your Service
Specialising in a niche deepens your understanding of industry dynamics, allowing you to identify and engage with suitable vendors for your event. This, in turn, increases the likelihood of delivering outstanding results, solidifying your reputation as a niche expert. With your established credibility, you can demand higher rates for your services.
An Expert Approach To Unexpected Crises
Even with careful planning, events may encounter unexpected crises during execution. For instance, the 2013 Super Bowl halftime show with Beyoncé faced a sudden 34-minute power outage, plunging the show into chaos.
When you specialise in a particular niche, you gain the ability to foresee and handle potential challenges. This foresight allows you to proactively plan, reducing the likelihood of pitfalls during event execution.
In case of a crisis, your expertise positions you to find solutions more effectively than someone without specialised knowledge.
Corporate vs. Social Events
At its foundation, events either cater to a business or an individual. The type of event you have to plan will depend on your client’s needs and goals.
| Corporate Events | Social Events |
| Networking Purposes | Celebrating Personal Milestones (e.g., Birthdays, anniversaries) |
| Employee Training & Development | Weddings & Engagement Parties |
| Product Launches | Graduation Parties |
| Conferences & Seminars | Baby Showers & Gender Reveal Parties |
| Team-Building Activities | Holiday Celebrations |
| Client Appreciation Events | Family Reunions |
| Trade Shows & Exhibitions | Retirement Parties |
| Board Meetings & Corporate Retreats | Religious Ceremonies & Celebrations |
| Award Ceremonies & Recognition Events | Memorial Services |
| Company Anniversaries | Themed Parties and Gatherings |
Sometimes, there is an overlap of both niches. For example, a corporate event might include some elements of a social event, such as a standup comedy performance. On the other hand, a social event might be planned by a business, such as a retirement party for an employee.
Life Of Corporate Event Management Professional
As a corporate event management professional, you’ll play a crucial role in relieving businesses from the burden of event planning and execution. In this capacity, you’ll find yourself engaged in a variety of responsibilities. These include organizing conferences, product launches, company social events, seminars, and award functions, as well as many other business-related activities.
You’ll handle the logistics, planning, and budgeting of events, develop mitigation strategies for potential risks, and arrange and dismantle setups at the venues. Additionally, you’ll be tasked with designing event marketing campaigns to ensure successful outreach, gathering and monitoring attendees, and choosing and onboarding a keynote speaker if needed. This role demands a blend of strategic planning, logistical prowess, and dynamic communication skills to ensure seamless event execution and high client satisfaction.
Corporate events are not limited to in-person meetings; virtual or hybrid events are also catching up the trend. For a virtual event, you could be responsible for creating online experiences that help teams connect and work together, regardless of their geographical location.
For example, Meta Connect 2023, held at the Fox Theater in Atlanta, was a special corporate event that took place on October 11 and 12, 2023. People could either attend in person or virtually, and the event revolved around Meta’s ideas for the future, showcasing speakers, product demos, and chances to connect with others.
As the event unfolds, you’ll remain in constant contact with vendors to ensure that every aspect runs smoothly.
At times, you might find yourself juggling multiple events simultaneously. This demands exceptional organisational skills and the ability to prioritise effectively.
“The life of an event planner is a whirlwind of activity. There have been times when I’ve worked 18 hours straight, handling back-to-back events. Beyond the technical aspects of the job, like running campaigns and managing projects, there’s also the art of communication, the ability to handle stress, and the importance of building strong client relationships. It’s a lot about contacts and the ability to navigate a fast-paced, demanding environment.” says Harish who is working in the corporate event niche for 5 years.
Life Of Social Event Management Professional
As a social event professional, you will find yourself creating and planning the event concept, choosing a venue that suits the client’s needs, selecting quality vendors within the event budget, organizing transportation and booking accommodation for guests, decorating the venue according to the event theme, and managing the catering for the event.
For example, Aishwarya Rai Bachchan and Abhishek Bachchan hosted an elaborate fairy tale-themed birthday party for their daughter Aaradhya’s 6th birthday at their Juhu residence, turning the lawn into a fun fair with a ferris wheel, floral decorations, a candy-floss counter, and slime-making sessions for Aaradhya’s friends.
“Being a social event management professional is exciting, fresh, creative, and sometimes a bit challenging. It’s not just a job; it’s a chance to be creative and grow personally. There is also a lot of on-field work, such as overseeing event setups, managing logistics, and ensuring everything runs smoothly. It’s a dynamic role that requires adaptability and quick thinking, ” concludes Swapna, an alumni of NAEMD and has been working in the social events sector for five years.
Tips To Choose Your Best-Fit Niche In Event Management
Explore Different Niches
Although corporate and social events are the foundation of event niches, the layers go deeper as you pick up a niche. For example, a social event niche has a variety of options like religious events, fundraisers, cultural events, or sports events.
Before settling on a final niche, give yourself enough time to understand what works for you and what does not. Speak to industry experts and gain insights into the different sectors of event management.LinkedIn is a great platform to connect with event professionals. To expose yourself to event management, you can be a part of Linkedin groups like Event Pros, Career Advice for Event Planning & Management, and Event Planning & Event Management.
Take Internships & Short-Term Projects
Gain hands-on experience by interning with event management companies or taking on short-term event projects. This experience will give you a taste of different niches and help you identify diffrent event marketing strategies.
A credible source for finding internships is Internshala. You can also explore event management websites like Wowevents, Wizcraft, and EEMA.
Identify Your Personal Interests & Lifestyle
Consider your personal interests and lifestyle when choosing a niche. If you enjoy working with celebrities and glamorous events, social event management might be a good fit. If you prefer a more structured and corporate environment, corporate event management might be more suitable for you.
+ There are no comments
Add yours