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  • 1.  Tips to Save on Event Costs in 2023

    Posted 09-27-2023 09:23
    Edited by Megha Jetley 09-27-2023 09:30

    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: 

    •  Be open-minded. Check out affordable venues easily using a venue sourcing tool, become more flexible, and adjust event dates to reduce costs further. Also, play with the event schedule. You could, for example, start the conference in the afternoon to eliminate breakfast and lunch from your budget.

    • Find your vendors early.  Reach out to vendors and suppliers early to make sure everything you need will be available for your event dates. Last-minute panic situations can cost extra if vendors have to adjust their schedules to accommodate your needs. 

    • Invest and reuse. Purchase staging that can be arranged in several different ways and versatile lighting elements to create a unique feel for each event. 

    • Save on power and Wi-Fi. Electricity isn't cheap. Opt for the latest battery-powered lighting and energy-saving audio systems. 

    • Go paperless. Mobile apps ‒ particularly those that can be reused for future events ‒ are one way to share event schedules and information while saving on printing costs. Registrations and follow-up surveys should be online to save on mailing costs. 

    • Dynamic Access Portal. This tool helps you Identify and eliminate duplicate meetings. It allows you to prevent conflicts with global holidays or industry events. It will also make it easy to identify opportunities to combine meetings and leverage existing hotel contracts.

    • Venue Sourcing Tech. Using this technology can potentially save you 8-20%. Several factors make saving that much possible. This technology ensures standard contract addendums are included, and you can ask standard risk management questions on every RFP.  

    •  Venue Diagramming Tech. This technology offers virtual walk-throughs, helps you create diagrams in minutes with flexible templates, and allows you to make updates in seconds. 

    • Event Registration. Using this technology can give you potential savings of 2-10% by permitting attendees to self-enter data or preload registrants. 

    • Onsite solutions. Seamlessly manage and check in your attendees, and greatly reduce the waste of unused badges. Now you can eliminate manual effort associated with data entry of leads into CRM or upload of data into your CRM.  

    Questions for you: 

    • What cost-saving measures do you plan to use when organizing an event in 2023?

    • How important is it for you to save on event costs when planning an event?
      a. Extremely important
      b. Somewhat important
      c. Not very important
      d. Not at all important


    #Creating/ManagingEvents
    #CventTip
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    Megha Jetley
    Manager
    Cvent Marketing Department
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  • 2.  RE: Tips to Save on Event Costs in 2023

    Posted 09-29-2023 12:43
    • 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. 

    • How important is it for you to save on event costs when planning an event?
      a. Extremely important!!!!!
      b. Somewhat important
      c. Not very important
      d. Not at all important


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    Chris Townley
    Marketing and Communications Associate
    National Council Of State Housing AgenciesUnited States
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  • 3.  RE: Tips to Save on Event Costs in 2023

    Posted 09-29-2023 15:51
    • What cost-saving measures do you plan to use when organizing an event in 2023?

      • Tighten up our Cvent contract to ensure we're not buying too many registrations
    • How important is it for you to save on event costs when planning an event?
      a. Extremely important



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    Lori Wildman
    Marketing Director
    lwildman@dmainc.com
    DuCharme, McMillen & Associates, Inc.United States
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  • 4.  RE: Tips to Save on Event Costs in 2023

    Posted 09-29-2023 17:06
    • 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.

    • How important is it for you to save on event costs when planning an event?
      a. Extremely important
      b. Somewhat important
      c. Not very important
      d. Not at all important


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    Cate Liverman
    Director-Constituent Relations
    UVA Medical Alumni Association and Medical School FoundationUnited States
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  • 5.  RE: Tips to Save on Event Costs in 2023

    Posted 09-29-2023 17:54
    • What cost-saving measures do you plan to use when organizing an event in 2023? staying digital and booking early into venues

    • How important is it for you to save on event costs when planning an event?
      a. Extremely important
      b. Somewhat important
      c. Not very important
      d. Not at all important


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    Mary Ann Hall
    Event Specialist
    Federal Reserve Bank of Chicago(CRSO Department)
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  • 6.  RE: Tips to Save on Event Costs in 2023

    Posted 09-30-2023 23:47
    • What cost-saving measures do you plan to use when organizing an event in 2023? Strategic invitation lists

    • How important is it for you to save on event costs when planning an event?
      a. Extremely important
      b. Somewhat important
      c. Not very important
      d. Not at all important


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    Hallie Loeb, HMCC
    Event Operations Specialist
    CDW United States
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  • 7.  RE: Tips to Save on Event Costs in 2023

    Posted 10-02-2023 09:31
    • 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.

    • How important is it for you to save on event costs when planning an event?
      a. Extremely important - It's VERY important as I work in Higher Education and our budgets are limited. We have to be good stewards of all expenses and I personally need to justify WHY these costs are being spent



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    Lesley Irminger
    in_person
    George Mason - Office Of University EventsUnited States
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  • 8.  RE: Tips to Save on Event Costs in 2023

    Posted 10-02-2023 09:55
    • 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.

    • How important is it for you to save on event costs when planning an event?  a. Somewhat important.  Every group is different and all are operating with different budgets and expectations.  Some do not care about cost very much, others will question every penny.


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    Julie-Michelle Davis, CMP
    Meetings Manager
    Amex GBT - USA
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  • 9.  RE: Tips to Save on Event Costs in 2023

    Posted 10-02-2023 10:43
    • 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.

    • How important is it for you to save on event costs when planning an event?
      a. Extremely important



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    Rachel
    NJ
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  • 10.  RE: Tips to Save on Event Costs in 2023

    Posted 10-04-2023 13:50
    • What cost-saving measures do you plan to use when organizing an event in 2023?

      • Less print, hybrid or virtual where it makes sense
    • How important is it for you to save on event costs when planning an event?
      a. Extremely important


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    Olivia Popofski
    MKTG
    Sun Life Assurance Company of Canada and AffiliatesUnited States
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