Good event management and production is all about the sensible use of resources. A production company will look at the space chosen for the event venue, check the schedule and analyse the equipment in order to determine the best course of action based on the resources at hand. But what about budget? If you’re arranging an event this year but don’t have thousands to spend, how can you ensure that your conference, awards ceremony or product launch is a successful one? Fortunately, we’ve picked out five considerations to help you keep a lid on your spend during the event planning stage and beyond.
Maintain reasonable expectations
If you know that your budget isn’t going to stretch particularly far, be sure to manage your expectations before they get out of hand. You can still be ambitious, but remember that your finances won’t stretch to the most high profile speakers, the largest and most lavish venues or the newest, most groundbreaking event technologies. Aim high, but don’t let your ambition run away with your wallet.
Hold it nearby
It will have no doubt occurred to you that your event venue will have to be affordable, but don’t forget that booking a venue too far afield won’t do you any favours either. If you and your event delegates have to travel, you’ll end up paying travel expenses and perhaps even springing for accommodation in order to keep attendees happy. Opting for a venue nearby to your business will not only keep expenses down, but will also help to make your event a sell-out.
Keep it short ‘n’ sweet
You might have lavish plans in terms of scheduling, bringing in countless speakers and introducing exciting itinerary points, but keeping your event short and sweet will help you to preserve your budget. Shorter events might help to save you money on venue booking, while you’ll definitely save money by booking fewer speakers and running an event short enough to avoid paying for catering at the end of the night. All of these individual costs add up in the end.
Make the most of technology
You might see technology as an unnecessary expense, but more often than not investing in the right technology can help you to save money on your event budget. A high-profile speaker might cost a lot of money to book on the night, but might it be cheaper to have them record a video segment for your event and project it up on the stage? Likewise, live video streaming could give you the chance to book a smaller (and cheaper) event venue and stream the event live to those who can’t attend. The right technology will help to make your event a more successful, affordable one.
Control guest numbers
While you might have visions of a packed auditorium full of enthusiastic attendees, controlling guest numbers is a sure-fire way of keeping costs down. Fewer guests means a smaller venue and that means a smaller bill at the end of the night, while fewer attendees might also mean cheaper travel costs, cheaper accommodation expenses and fewer mouths to feed should you choose to provide catering. Remember, any guests who can’t attend can always catch up with your event on video.
Here at the R&B Group we’re dedicated to providing our clients with affordable event management services. Our project managers can make sure that your event doesn’t go over budget, and should another event management company let you down, we can salvage your event without incurring further significant costs. If you’d like to host an event on a budget this year, contact the R&B Group and find out how we can help.