Help, My Event Budget Is Not Enough!

An unlimited event budget is a luxury few enjoy, and it is rather "more for less" that is the mantra for most companies today. But take heart -- a reduced event budget does not have to mean a lesser event. As in most cases, it is mostly about good planning, and of course being as early as possible.

Thinking through your event, from start to finish, and what is important to achieve, is a good start to all planning. Then you also have the opportunity to compare more alternatives for each part of your event, which in many cases can be the key to a well-thought-out and cost-effective event.

But. Sometimes things get rushed and there is no time to negotiate with suppliers, compare multiple alternatives, or the possibility to budge much on requests from your client. And sometimes you may even be expected to be a magician and put together an almost impossible assignment! If that is your situation, here are a few concrete tips on how to quickly cut costs in your event budget.

6 Cost-Saving Tips

1. Hold the conference or your event in a smaller town. However, keep in mind that you may need to budget for potential transport. If you have participants who need to travel to your event, there needs to be an airport or train station within a reasonable distance.

2. Go for a daytime conference and skip the overnight stay. An overnight stay does give participants the chance to meet in a more relaxed setting in the evening, and you can often be more flexible with times for dinner or activities (which in itself can make it easier and cheaper to put together a cost-effective event), but otherwise you can make significant cuts to the event budget by limiting your event to daytime.

3. If you need accommodation, it can be an alternative to choose double rooms instead of single rooms. Some companies have a policy that participants should not share rooms, but otherwise it can often keep costs down for larger groups.

4. Look at alternative venues. Instead of renting expensive conference rooms, there are many other options such as community halls and club premises that can often be rented at a lower cost. For smaller groups, you can look at renting inns and guesthouses. If you are early enough or hold the event outside peak season, you can often get the whole place to yourself at a good price.

5. If you can be flexible with dates, it is often easier to negotiate with conference hotels and similar venues. Avoid holding your event around holidays and school breaks if possible. Ask the hotel, for example, if they can suggest dates where they can offer a good price.

6. Limit alcohol consumption. An alternative can be to set an end time for your event, where each participant is responsible for what they consume after this time (free time).

Final Advice

It is important to be clear with your client about the conditions. Being aware of how a limited event budget affects the setup of your event will help you deliver an event that meets, and perhaps exceeds, expectations. If it is a barbecue in the courtyard that applies, you will meet expectations as long as everyone was aware that a barbecue was on the agenda. Especially if you have a group that is perhaps used to a more lavish event.

Then there is of course the possibility of comparing suppliers, being a magician, and putting together fun setups -- despite limited time. We call the solution Event Logic, and it is completely free. Get in touch with us and we will help you get started!