As with most things in life, one of the main considerations when hosting an event is how much it will cost. Event planning budgets are often subject to extreme scrutiny and in today’s climate, people often want to see more for less.
Here are a few tried and tested ways to save money on your next event.
Choose Your Venue Carefully
By venturing a little further out from a city or town centre, you could potentially save money. Many people think a central venue is best for event attendees, but this isn’t always the case. If you find a cheaper venue, a little further out, then you may find it benefits from lots of free parking, making it an even better option for your attendees.
Another way you can save money on a venue is to look at how your event, or in particular your audience, could be valuable to that venue, helping you to negotiate discounts. For example, if you were hosting an event with High Net Worth individuals in attendance, then luxury car show rooms, jewellery stores, etc. might offer you discounts on using their premises, because you are bringing potential customers to their door.
Utilise Social Media
Social media can be a valuable low cost marketing tool for your business, giving you the potential to reach thousands of people at little or no cost. Social media can also help you to save money on the costs associated with printing. By asking your event attendees to join up to mailing lists or social media groups, you can send out materials such as newsletters and invitations with zero printing costs. In addition to this, using social media could also save your business money on traditional forms of market, such as print ads and flyering.
For more information on how social media could benefit your event strategy click here.
Recycle and Reuse
When seeking to make the most of your budget it is always a good idea to look at your entire suite of events and consider where you can make savings by reusing or recycling event collateral. For instance, can you buy pop-up stands to be used at all kinds of events? Could you bulk order items such as branded pens at a discount, to be used throughout the year?
Another way to save money is to think of ways to give items a dual purpose? Could your food double up as an interesting centre piece? Could lighting be used to create an interesting design scheme? Always be on the look out for ways to eek out extra mileage from all your expenses.
This may seem like an obvious one, but it makes a real difference. Always be prepared to ask for discounts, even if the savings on each individual item don’t amount to much, once you add these discounts up for each event that you host, the savings soon start to stack up.
Employ an Event Planner
When you are trying to save money, spending on freelance services may seem counterintuitive, but a professional event planner can actually save you money in the long term. An event planner will have connections with venues and suppliers, and will be able to negotiate healthy discounts for you. They will also have the skills to streamline your event processes, saving you time and money, whilst also allowing you to get on with the day to day running of your business.
To read more about why it is always a good idea to employ a professional event planner, click here.