My Best 2024 Investment for My Event Business

Not all business investments go as planned, but those that do can transform your company’s future. When you start seeing bona fide results from your efforts, it validates your choices and launches your business to the next level—whether that means generating more profit, attracting more leads, or finding more balance in your day-to-day.

Wise investments should tie heavily into your goals, so the first step is to consider how you want to scale your business. Will a larger team help you reach higher sales benchmarks? Would rebranding help to draw in the clients you love to book? Figuring out your big-picture business goals will reveal opportunities for meaningful investments.

Looking for guidance? We asked industry experts about the best investments they’ve made for their event business this ye — here’s what they had to say. 

Team expansion 

Hiring the right people is one of the most impactful investments a business can make, especially when it means you can take on more clients and streamline operations. 

Wedding Venue Map’s Shannon Tarrant reveals that adding a new full-time employee has been her best investment in 2024. 

“Sales have always been priority number one, but too many sales without the team to keep our service levels high was starting to show,” she explains. “By investing in a full-time service manager whose only focus is to make our customers feel cared for, our client experience scores have gone through the roof and created repeat business.”

Even a relatively small investment in personnel can make all the difference. If you need support but can’t take on full-time staff, consider hiring a part-time employee or contractors to help fill the gaps. Incremental growth is still growth! 

SEO strategy 

Search engine optimization may not seem like the most exciting investment, but it might be the answer if you want to drive up website traffic and generate more leads.

Wedding photographer and videographer Craig Peterman has prioritized SEO this year, sharing that the results have been remarkable.

“Since I started doing this, I have seen an 85% increase in website traffic and a third more organic leads,” he confirms. “I could mention some fancy equipment or cool new techniques, but those really pale in comparison to how helpful it is to optimize your SEO and build valuable authority backlinks for your site to give it credibility.”

Loni Peterson of LP Creative Events agrees with Peterman’s take. “The best investment I have made in my business is working with a marketing company to help update my website's SEO and optimize my blogs,” she states.

Investing in SEO can come in different forms. You could hire an SEO consultant to make recommendations for an in-house team member to implement. You could also hire an in-house marketing specialist with SEO experience to oversee your brand’s outreach. Or, if you already have a marketing person, perhaps you can invest in SEO training for them. 

Publicity 

If your marketing efforts are squared away, you might wonder what else you can do to increase brand awareness and ramp up your industry reputation. Enter: public relations. 

Wedding planner Penny Haas says her best investment this year has been “signing up with a PR and consulting company.” 

“I had a focus on New York Times articles, BizBash, The Knot, and Catersource,” she shares. “Within three to six months of working with the company, I achieved pretty much all of these publication goals.”

Plus, there’s more to PR than flashy press features to post on social media! Publicity offers the added benefit of boosting SEO and supporting inbound marketing efforts.

“Not only do I have the benefits of the publication and features, but I also have backlinks to my business webpage, as well as community connections with other vendors that also provide expert advice,” Haas adds.

Investing in public relations is a strategic move that will establish authority, generate social proof, reinforce SEO, and fill up your press portfolio. If you want to start small, dedicate time to real wedding submissions or sign up for a service that sends media queries straight to your inbox, like Connectively (formerly HARO). 

Brand updates 

As companies grow, their brands must follow suit. If your brand no longer reflects your audience, offerings, or aesthetics, it’s worth investing in a brand refresh to realign with your business goals.

“By doing research and audits of my brand, website, and business, I have narrowed down the type of clients I am trying to target and cater to that specific niche,” Peterman shares. “This rebranding includes a redesigned website, updated visual identity, and refined messaging that resonates more powerfully with my target audience.”

Rebranding isn’t always about new colors or updated imagery, though. It can be just as transformative to revisit your offerings and how you promote them. 

Bite Catering Couture’s Vijay Goel says that his top investment has been “a positioning overhaul with a refreshed focus on high-end, full-service options.”

“Coming out of COVID, a number of our updated marketing materials reflected the smaller group, more delivery-oriented options that the public health lockdowns and office closures rotated the business toward,” Goel explains.

“This year, we've focused on higher-end, more experiential items and showcasing them in menus and photos throughout our website,” he continues. “We're seeing that result in a higher-end and larger set of customer inquiries.”

Depending on your rebranding approach, you may find it requires a greater investment of your time than financial resources. But given the value of your time, it’s certainly something to consider as you look to the future of your business! 

Self-care 

Perhaps the most beneficial—yet highly underestimated—investment comes without a price tag: your personal well-being. Creating space to celebrate who you are outside of the workplace brings fulfillment and lets you show up for your business with purpose. 

Michele Adams of Unique Weddings & Events learned that lesson this year. “One of the greatest investments I've made in my business this year might not be what you're expecting...but it's investing in myself,” she reveals. “By having boundaries and taking care of myself, I've been able to get re-energized and bring my best back to my clients.”

Investing in self-care may not seem like a traditional business strategy, but it’s essential for long-term success and sustainability. By setting boundaries and making time for self-care, you protect your mental and physical health while improving your ability to serve clients with renewed energy and passion.

When considering business investments, it’s evident that the best are those that align closely with your unique business goals and personal values. That’s not to say an investment must require a significant financial outlay to make an impact! Look for the opportunities that bring you closer to your vision for the future, focusing your time, energy, and resources on what will help you achieve your version of success.