Hi all, let's begin our next edition of the Tip of the Week discussion! It's no secret that event costs are rising, from general event expenses like F&B and A/V to internet fees and much more. So, when the words "event" and "budget cuts" are used together in the same sentence, it's an acceptable reaction for meeting professionals to wince a bit and start scrambling for ways to deliver the kind of engaging experiences attendees expect while also holding firm to the bottom line.
And we've got some practical tips you can use right away. Leverage these Tips and Tech to Save on Event Costs:
Questions for you:
What cost-saving measures do you plan to use when organizing an event in 2023?
#Creating/ManagingEvents#CventTip------------------------------Megha JetleyManagerCvent Marketing Department------------------------------
What cost-saving measures do you plan to use when organizing an event in 2023?Definitely trying to go paperless and finding vendors as early as possible.
What cost-saving measures do you plan to use when organizing an event in 2023? We use a paperless approach and I plan to vendor shop quite a bit. Additionally, I have opted to decrease decorations/add-ons at events and simplify catering orders in order to efficiently use funds.
What cost-saving measures do you plan to use when organizing an event in 2023? staying digital and booking early into venues
What cost-saving measures do you plan to use when organizing an event in 2023? Strategic invitation lists
What cost-saving measures do you plan to use when organizing an event in 2023? I often negotiate costs, I'll also work with our caterer (cash bar vs open bar), and we often use venues on campus that we can get at a reduced rate vs a hotel. For fundraising events we offer robust sponsorships that can help us on overall costs.
What cost-saving measures do you plan to use when organizing an event in 2023? I'm third-party, so I'm more or less at the mercy of clients. We do try saving money by sourcing hotels hat we may have a credit at due to another group's cancellation. If one of my groups cancels, I let my colleagues know if we have booked a hotel and have rooms someone else could possibly use to off-set my group's cancellation fees. I also like to encourage clients to utilize one vendor for numerous facets of planning to save time and likely money as well.
What cost-saving measures do you plan to use when organizing an event in 2023? We're reducing printed items, going digital, trying to find venues that offer specials, keep tighter counts on attendees and follow up well in advance to get cancellations so we're as close on food numbers as possible.