Class Library Planner Pricing: How, & How Much, To Charge

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  • Title:Planner Pricing: How, & How Much, To Charge
  • Category:Business
  • Level:Advanced
  • Instructor:Howard Givner
  • Length:64 min
  • Posted:9/14/2010
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Overview

Nobody enters the event industry for their love of math or economics. Planners may be experts at creativity and logistics management, but as a group, they tend to gloss over the subject of how, and how much, to charge for their services. As a result, despite years where they are incredibly busy producing outstanding events, they don’t make nearly as much money as they think they should. Or worse, they lose money. In this class we’ll cover the topic of pricing in great detail, spending time discussing each of the major pricing models planners use, and helping you understand which model is best for you, or for a particular type of client. We’ll then walk you through how to calculate your fees, and how many events you need a year to hit your goals.

If you're interested in this topic, check out our new instructor-led course: The Launching Pad: Starting Your Own Event Company.

Learning Outcomes

    1. Understand the major pricing methods used by event planners, including the pros and cons of each method, which types of clients they appeal to, and advice for implementing each one.
    2. Recognize the importance of understanding, and explaining to your client, the value you bring to them, which is critical regardless of which method you use.
    3. Have a framework for a step by step way to calculate your fees.
    4. Know the difference between a commission and a kickback, and what to watch out for when accepting commissions.

Table of Contents

Watch the Full Class Without Chapter Breaks
Planner Pricing: Full Class Video 1hr 2 min
Overview
Introduction 1:27
Understanding the Different Pricing Models 4:33
Transparency & Value 3:29
Types of Pricing Models: Pros, Cons & Advice
Flat Fee Pricing Model: Pros, Cons & Advice 5:09
Hourly / Daily Pricing Model: Pros, Cons & Advice 4:23
Cost-Plus & Percentage of Budget Pricing Models: Pros, Cons & Advice 3:01
Markup Pricing Model: Pros, Cons & Advice 8:39
Commissions Pricing Model: Pros, Cons & Advice 9:14
Calculating Your Rates / Prices
Calculating Your Prices for Fee-Based Pricing Models 17:49
Calculating Your Prices for Markups & % of Budget Models 6:07
Videos of Other Planners: How They Charge
Karen Dalzell, CEO of Dalzell Productions 2:33
Andrea Michaels, President of Extraordinary Events 4:35
Colja Dams, President of Vok Dams Agency on Procurement & Pricing 2:07
Colja Dams, President of Vok Dams Agency on Charging For Proposals 3:20
Colin Cowie 5:03
Downloads
PDF of Slides from this Class 36 pages
ELI

The Certified Meeting Professional (CMP) is a certification offered by the Convention Industry Council (CIC), an umbrella group comprised of 30 organizations. As part of the application process for the CMP, candidates are required to log a minimum of 25 Clock Hours of approved education. If you see the CMP designation next to a given class on this site, it indicates that class has been approved by the CIC to count toward that educational requirement, for the designated number of clock hours. For more information go to www.ConventionIndustry.org.

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