One element that is constantly under serious scrutiny by event planners, is the budget. Event budgets of course vary depending on the event’s scale, however, throwing a large amount of resources into it does not guarantee success. Cost-effective doesn’t have to mean cheap in the world of event planning, therefore experiences with a smaller budget can be equally impactful and engaging, as long as event planning is executed strategically to activate and excite attendees. After all, it is the value that needs to be high, not the price.
Take a moment to re-think your event planning strategy and extract key learnings. What have you been doing right and wrong? After you identify main areas for consideration, start off by implementing a few simple cost-saving tricks without compromising quality and impact.
Choose the event destination wisely
Some destinations are undeniably more expensive than others. Selecting the right one, both strategically and financially, can significantly impact the outcome of the event. Therefore, make sure to take some time and review your options, considering all critical aspects that can either lift up the experience or tear it down! Of course, destination and venue go hand-in-hand, so don’t neglect to choose a venue that allows for energy and waste reductions and also carefully limits travel expenses and unnecessary travels.
Take advantage of free tools for online marketing
Traditional marketing tactics like offline advertising and printed material, while still practiced, can be rather expensive and might not offer the expected results. So, embrace the cost-effective solution to go digital for your event promotion! Email marketing and social media can be your strongest allies in creating buzz around the event without draining your budget. They are also great platforms for interaction and networking during and after the event, so use them to your and your attendees’ advantage!
Are you expecting your event to be overwhelmingly busy? Hiring the right volume of staff to accommodate the needs of your attendees may skyrocket your budget. Volunteers and students can offer great assistance, adding a fresh and vibrant flavor to the event, while keeping your staff costs limited.
Are you looking for more event planning tips?
Whether you are looking for ways to uplift the overall local experience, boost engagement or activate your audiences, MCI can help you achieve your goals. Visit us here to explore your options.