By Chloe Zebedee of Corporate Events
With the results of Brexit very much at the forefront of people’s minds and the consequences of the nation’s decision uncertain, it’s undoubtable that budgets are going to be the first effected. With this in mind, the pressure for event professionals to do more with less is more apparent than ever before.
The number of events being held a year continues to rise with companies offering strong communications to all stakeholders whether internal or external. The question is just how much will budgets be effected, and if so, how are we going to get around it?
We are lucky to work within a diverse industry that allows us to think outside the box and use creativity to jump the numerous hurdles thrown at us as event professionals. Keeping this in mind, there are several easy changes you can make to the way you plan your next event, that can make the possible budget cuts a little easier…
Keep it all under one roof:
Working with an integrated event production agency that have technical equipment, creative services and an event delivery resource in-house will immediately save you money. Not having to outsource each element of your event saves not only money, but time and time to any corporate event organiser is priceless.
Another benefit is having a single point of contact. Speaking to the same team for creative and technical ensures that your expectations are managed. It also means that ideas created in the studio are technically achievable at delivery, avoiding disappointment.
Cheapest isn’t always cheap:
Choosing your venue is an important part of the planning process and can affect your event significantly. Sometimes the cheapest option initially, doesn’t end up the cheapest in the long run. Things like power, catering, and access are all things that need to be taken into consideration. If the production, that you have spent more hours than you can count working on, requires more power than the venue can give you, then you will have to factor in the cost of hiring an external generator. If the venue doesn’t offer catering, you may have to bring that in on top as well…you can see where I’m going with this. Know what your exact requirements are before you book a venue, and the most important thing – do a site visit! This way you can be 100% sure that your expectations can be met and you’re not going to be hit with any hidden costs.
Honesty is the best policy:
Being up front and honest about your budgets will ensure you achieve your desired goals and ultimately save you a lot of hassle in the long run. It’s easy to try and cut corners when trying to save money but it’s important to remember that everyone is in the same situation. Suppliers will have the resources in place to manage your expectations, but cutting corners never has a happy ending. When budgets are tight, ask suppliers to provide a scalable quote. This way you have visibility of optional extras that you can bolt on as you sell more tickets or your corporate budgets become more stable.