Sure, everyone wants to save money, but how do you accomplish that without giving up quality? After creating hundreds of events, we’ve learned 10 ways to do just that. Here they are, in no particular order…
#1: Negotiate with your Venue. You have the most negotiating power before you sign a contract. Take your time and really think about everything you’ll need for your event. Ask your venue to include as many of these items as they’ll agree to. Make sure everything is included in the final price.
#2: Go Paperless. Wherever possible, rely on digital instead of paper. Send evites instead of paper invitations. Create an event page on Facebook where guests can get information or communicate with you about the event. Also, provide online access to any event or speaker materials. For marketing, use social media, your blog, website and eNewsletter instead of paper flyers or postcards or hard copy newsletters.
#3: Reduce Food and Beverage Costs. Forgo the full liquor bar, instead offer wine and soda. For dinner, choose buffet style over plated food.
#4: Get Sponsors. Seek out one or two who are relevant to your event. They’ll cover some of your event fees in exchange for brand awareness and marketing at your event. Write up a contract so everyone understands their obligations and what to expect from one another.
#5: Use LEDs. These fixtures will save money and power consumption, especially in ballrooms where they charge you for power. There are lots of LED options available at an affordable price.
#6: No hanging fixtures. Utilize ground support fixtures only. Rigging equipment is a huge expense, cut this out entirely if you can.
#7: Try piggybacking. Before booking your venue space, look for another event happening around the same time you’d like to host yours. If the venue is available the day before or after, strike a deal with the planner of the other event to share the cost of setup, food, drinks, etc. There are lots of ways to use this to your advantage, but be prepared as it will make planning your event more complicated.
#8: Choose your guests wisely. If you’re having a 500 person event in Tampa Bay, you’re options for venue space are limited. For 1000+ person events, there are VERY FEW options.
#9: Hire Students to Help. Marketing, graphic design and photography undergrads get experience and in return, you get fresh ideas and cheap labor. It’s a win-win!
#10: Don’t Book Celebrity Speakers. Opt for lesser known, but still great speakers who live nearby. This will also save on flight and hotel costs.
If you want to cut costs at your next event, using these 10 tips will help you do that. Just remember to balance your cost savings by spending money on the items that are really important. NEVER cut costs when it comes to the safety of your guests!
Bay Stage Live is your one-stop shop for event creation. To discuss your next event, simply call (813) 877-1089 or visit us online at www.BaystageLive.com.