Event planning pros are already well-versed on the importance of relationships. You network your tail off to grow relationships that will support your success. You schmooze sponsors and connect with clients. Heck, the ritz and glitz of your finished product, in the form of spectacular events, boils down to the simple art of bringing people together.
But for all your mingling and mixing, you may still be missing out on the benefits of a more formal business relationship: strategic partnerships. And if so, you’re missing out on a key revenue-generating strategy. You’re 53% more likely to close a deal if you work with a partner.
In this article, we’ll give you the skinny on how strategic partnerships differ from your other business relationships and how strategic partnerships can help you grow your event business.
The Power of Strategic Partnerships in Event Planning
You see strategic partnerships in action nearly every day. You’ve had a brush with strategic partnership greatness if you’ve ever strolled through Target while sipping a salted-caramel mocha from the Starbucks at the front of the store or listened to your carless cousin talk about how he ordered a Lyft to his hookup from within the Tinder app.
Strategic partnerships bring together independent businesses to collaborate, innovate, and shine for their collective customer base. The partners put their resources together to provide exponential benefits to their customers.
Clearly, you already work with event vendors and sponsors in ways that mimic strategic partnerships. However, unlike those other relationships, your strategic partners have skin in the game. They’re laying their reputations on the line and setting themselves up to reap the benefits of your partnership in much the same way you are.
You can see the high-stakes nature of strategic partnerships when you examine Mountain Dew and Red Bull. Around 2015, both high-caffeine drinks were battling it out to reach adrenaline-crazed sports enthusiasts. Red Bull partnered with newcomer GoPro, while Mountain Dew partnered with iON action cameras. GoPro took off, while iON went bankrupt. Today, Red Bull outsells Mountain Dew by 3 billion cans per year.
How Event Planners Can Tap Into the Power of Strategic Partnerships
Fortunately, strategic partnerships for event planners involve less nail-biting than they do for corporations. The strategic partnerships you form will provide specific and lasting benefits for you and your partners.
Expand Your Event Services
You know you can expand your corporate client base if you offer product launch event services. But you’re unsure you have the high-caliber marketing skills to go with the gig. However, someone from your New York City Business Networking Group happens to own a marketing firm. So, you partner up to give your corporate client white glove treatment for their product launch event.
Expand Your Reach
You’re making your name as the event planner for killer raves. However, your target audience for these events remain out of reach. And you know you can book more clients if you can prove you can expand their base. So, you partner up with the city’s top music bloggers and podcasters by offering them long-term and exclusive behind-the-scenes access to your dance parties.
Expand Your Customer Base
The C-suite clients of a local corporate event business keep approaching them to plan their adult children’s weddings. The big event business doesn’t want to invest its resources into forming a wedding planning department. But they still want to maintain their client relationships. So, they seek out an independent wedding planning maven to outsource requests from their high-profile clients.
Find Your Future Strategic Partners at The Event Planner Expo
Strategic partnerships can grow your event business by expanding your customer base, boosting your brand’s reach, diversifying your services, and much more. But where do you find strategic partners that are the best of the best? The Event Planner Expo brings together thousands of event professionals for three days of learning, networking, and inspiration. Whether you want to form partnerships or simply strengthen your network, find your tribe at The Event Planner Expo 2025 – register today!
