Why Do Corporate Bookings Cost More Than Private Bookings?
Corporate events are big money if you can get it. But why exactly are they that way? What exactly sets them apart from our private parties? A £300 booth with a bit of editing to stick their logo in the corner of their photos seems perfectly reasonable, so why exactly are some businesses charging upwards of £100k for their event?
The basic and simple answer is: these different events have different objectives and with them come different costs. But what is it about the way you have to service a corporate event that makes it so that you’re delivering a £100k event?
Different Needs, Different Costs
A crucial thing for you to wrap your head around is whatever corporate event you’ve been hired to attend to - gala, product launch, awareness piece, etc. etc. - is going to have a completely different need for your expertise than the way a private party will need you - be it birthdays, weddings, or a high school prom.
The need for a photo booth at any random private event is simple - making memories. When a private party hires your expertise, their expectations of the event rest on having a good time with their guests, taking fun pictures, and making lasting physical memories of their big event. At the end of the day a good time and tangible memories is all they’re looking for. So that’s all you need to be charging for.
Now, the corporate event you’ve been hired to attend is an entirely different animal to handle. What a corporate event will expect from your event is a world away from those hiring you at a private party.
Your corporate client will likely expect a plethora of things from your business. One of these things is an entirely personalised experience. What they will likely be looking to have is a booth completely retooled to align with their corporate brand from top to bottom so as to match their desired outcome for the event as much as possible. This could range from brandishing the booth with their logo to branding interfaces, overlays, and prints to their liking.
The level of personalisation being asked of you will naturally contribute to a higher cost than that of a private party which will likely take the booth as it is. The crux of why your client is hiring you for their event is brand engagement - from customers and employees - and brand awareness, if they aim to have their photos shared online.
There’s also every chance that your client may have asked for more than a photo booth, and maybe they’ve asked you to deliver something new, something totally different, completely one-of-a-kind...
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