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How to Organize More Events Without a Bigger Event Budget?

  • 1.  How to Organize More Events Without a Bigger Event Budget?

    Cvent Staff
    Posted 11-16-2022 09:41
    Edited by Megha Jetley 11-16-2022 09:44

    Happy Mid-week all! Let’s kickstart with our next edition of the Tip of the Week discussion! 

    The B2B meetings and events industry is booming, according to American Express Global Meetings and Events Forecast, as events are perceived to be one of the best ways to attract and retain new customers. 

    Unfortunately, marketing budgets are finite, and 65% of event planners don’t anticipate any changes in their event budgets (Research by EventMB). So how do you keep up with the demand for more meetings on the same event budget without compromising the larger events while keeping standards high? 

    Here are some tips to reduce the costs for these small events without compromising the attendee experience. 

     

    1. Use Smart Marketing to Motivate Attendance 

    • Capitalize on FOMO with exclusive opportunities 
    • Nurture your existing audience  
    • Use discount tactics 
    • Capitalize on social media 
    • Get speakers or performers involved in the promotion 

     
    2. Find Alternate Sourcing Ideas for Your Speakers and Talents 

    • Hold an open call for speakers in advance  
    • Try local talents 
    • Offer VIP sessions with the speaker/expert 
    • Consider peripheral or interdisciplinary experts 

     

    3. Look for Less Expensive Boutique Venues   

     

    4. Master the Art of Negotiation 

    • Strive for clear visibility on all your options 
    • Consistency in vendors and suppliers for all events 
    • Provide as much long-term visibility as possible 

     

    5. Develop Sponsorship Opportunities 

    • Build sponsorship packages 
    • Approach local businesses 
    • Increase sponsorship opportunities 

     

    6. Use Technology to Save on Logistical and Human Resource Costs 

    • Investigate automation 
    • Find an all-in-one solution instead of using disparate tools for different event functions. For example, Cvent offers software solutions to event planners and marketers for online event registration, venue selection, event management and marketing, onsite solutions, and attendee engagement. 


    Question for you:
     

    • Which of the above tip do you find most useful? 
    • How do you organize your event without a bigger event budget? 

       

    As always, feel free to drop in your suggestions in the comment section below! #CventTip



  • 2.  RE: How to Organize More Events Without a Bigger Event Budget?

    User Group Member
    Posted 11-29-2022 08:33
    • Which of the above tip do you find most useful? Love finding ways to use technology to make everything easier! Streamlining not only helps make it easier on the employees working the event but on the experience of the attendees when it's all simplified and quick.
    • How do you organize your event without a bigger event budget? Focus on just 1-2 key big wows and then fill out smaller around it. Determine what youre objective is and focus on putting the money towards that (is it wowing with AV? is it the giveaways?  is it the food/experience)


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    Rachel
    NJ
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  • 3.  RE: How to Organize More Events Without a Bigger Event Budget?

    Posted 11-29-2022 09:15
    Which of the above tip do you find most useful? 
    5
    How do you organize your event without a bigger event budget?
    Determine attendee amount first.


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    Jonathan stanaj
    em
    United Federation of TeachersUnited States
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  • 4.  RE: How to Organize More Events Without a Bigger Event Budget?

    User Group Member
    Posted 11-29-2022 10:04
    • Which of the above tip do you find most useful? Use boutique venues - sometimes these venues are the best because they want new business and are willing to offer great promos or negotiate pricing for your group. Groups also tend to get more attention in these venues and the experience is often better.
    • How do you organize your event without a bigger event budget? - Work with vendors that you have long term or existing relationships to take advantage of relationship pricing or maybe multi-event pricing. 


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    Gina Allega, CMP
    Senior Program Manager
    BCD M&E
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  • 5.  RE: How to Organize More Events Without a Bigger Event Budget?

    User Group Member
    Posted 11-29-2022 10:25
    • Which of the above tip do you find most useful? Utilizing the supplier network for boutique hotels.
    • How do you organize your event without a bigger event budget? We work with some local partners that are customers of our bank, typically they will waive certain fees to do a co-sponsored event together.


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    Beth Vriesen
    Events Registration Admin
    Associated Bank Corporation
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