192: Breaking the Pricing Trap: How AV Companies Can Thrive

n this episode of the Events Demystified Podcast, host Anca Platon Trifan dives into the business side of AV event production with Tom Stimson, President of Stimson Group, LLC. They discuss the pitfalls of traditional rental-based pricing models and the importance of charging based on expertise, creativity, and strategy. Tom shares insights from his decades of experience advising AV companies and offers practical advice on improving profitability and redefining value in the event production industry. Tune in for a deep dive into labor challenges, technology advancements, and smart business practices that can help event professionals thrive.

00:00 Introduction and Episode Overview

00:18 The Pricing Trap in Event Production

02:32 Guest Introduction: Tom Stimson

04:08 Tom's Journey and Lessons Learned

05:41 Challenges in AV Production Pricing

08:02 Historical Context of AV Pricing Models

10:19 The Value of Pre-Production Time

12:25 Breaking the Cycle: Charging for Value

15:00 Negotiating Terms and Managing Risk

19:44 The Importance of Setting Expectations

25:24 Smarter Ways to Approach Event Production

29:52 Navigating Budget Conversations

31:30 The Importance of Honest Budgeting

33:27 Addressing Labor and Talent Shortages

35:16 Rethinking Pricing Models

38:06 The Value of Experience and Expertise

43:31 Regional Pricing Variations

48:49 Future of Event Production Business Models

55:13 Final Thoughts and Advice

👉 Like and share this video to spread the knowledge.

👉 Episode Notes: https://eventsdemystified.com/

👉 Don't forget to subscribe, like, and share! Your support helps us continue to deliver insightful and engaging content like this.

Sponsored and Produced by Tree-Fan Events Production LLC. Let's change the way we plan, produce, and experience events together!

Connect with your Podcast Host at the links below:

Book Anca to Speak at Your Event: https://ancaplatontrifan.me/booking-page/LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/ancatrifan/⁠⁠⁠Instagram: https://www.instagram.com/anca.platon.trifan/Instagram: ⁠⁠⁠⁠⁠https://www.instagram.com/eventsdemystifiedpodcast/

⁠⁠⁠⁠⁠⁠Original Podcast Music written and produced by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Fable Score Music. ⁠⁠

⁠⁠“Events: demystified” Podcast ⁠⁠is brought to you by ⁠⁠Tree-Fan Events⁠⁠, a leading woman-owned boutique event planning and production agency offering a comprehensive approach to event management and production, with a focus on enhancing the attendee experience with the #FIT4EVENTS™ framework for a holistic event cycle in order to create memorable events.

👉 Leave us a comment about how you think AV and AI will shape the future of events, and share this episode with others in the industry!