You want to make your meeting stand out. It’s your job. It`s what you do, wowing your attendees and create an outstanding event that will be remembered. You’ve done it (what feels like) a thousand times before. But now your client wants you to create an amazing event with about 70% of your previous budget. And just because you may not have all of the bells and whistle (and money) of past events, it doesn’t mean your event should be anything less than fabulous.
Business Event Planning – Falling Budget vs. Rising Expectations
Your clients know your budget restrictions will present some challenges. But that doesn’t mean they won`t have the same expectations as they’ve had with previous programs. And your attendees won’t really notice the little details that we generally agonize and stress over. What they’re looking for is a relevant and well organized meeting at a business appropriate venue. And it`s up to you to make it happen.
Business Event Planning – Saving Money is Not a Fantasy!
First plan of attack, your budget. Know it and stick to it! Microsoft Office has some free, down-loadable event budget templates to help keep you on track. When you know precisely what you’re allocated for each component of your event, it helps you prioritize what is essential to your event and what isn’t.
Negotiate. Everyone, venues and suppliers included, is trying to increase business. And sometimes the first price or deal that you’re offered may not be the best one. So ask up front what they can do for you and shop around. But remember to keep your expectations realistic. Because as much as a vendor wants your business, it has to be beneficial for them too.
There is always some wiggle room in food and beverage. Now don`t starve your delegates (there’s nothing worse than having too little food) but take a realistic look at your menus. Don`t over order for buffets and food stations (does each delegate really need three muffins at the morning break?) A cocktail party with passed hors d’œuvres is far more cost effective than a sit down dinner. Pitchers of ice water and lemon can actually go a long way in saving money and is a far more environmentally friendly option than bottle water.
Business Event Planning – Small Changes Can Make a Big Difference
It may seem like a few insignificant modifications won’t affect your bottom line. But collectively, all of those small changes can save you enough money to make even the most budget conscious clients happy!
In today’s tight financial climate, a streamlined, cost effective business event is even more impressive to our clients and ultimately, their bottom line.
- Honey, I Shrunk the Budget – The New Norm in Meeting Planning (plananevent.org)
- Event Planning Business Plan – Plan For The Worst To Be A Success (plananevent.org)