Doing an Event on the Cheap
It is becoming more important for event planners to hold costs down while planning a "big production" look. To make a successful event with those parameters, you need to be more creative with the planning process.
The first thought is to do as much as you can "in-house." Booking the hotel/venues, making home made centerpieces for the awards tables, do it yourself registration systems - using a computer spreadsheet for basic attendee tracking, having all your collateral material printed at Kinkos on low cost bond paper, utilizing your company executives as keynote speakers and workshop instructors, contacting live entertainment direct from word of mouth referral, ordering the most basis audio/visual system, and most of all, holding the total attendance to under 200 at a time. These are just a few things that can dramatically hold your costs down. Remember, your largest costs are going to be food and lodging. ALWAYS negotiate these items.
Secondly, you can also save on costs by outsourcing certain services. You could save thousands of dollars just outsourcing the audio/visual part of your conference. Hotels "in-house" audio visual departments are often outside companies that "rent" office space within their properties. They are often on tight profit margins and usually have to charge a higher rate than outsource audio/visual vendors. We consistently save our clients from $1,000 to $15,000 in these costs. Contact a P2 Events representative to find out how we can save you money in this category.
Outsourcing theme development and speaker selection can also save you money versus doing it yourself.
In conclusion, just remember that there is a fine line of "wishing" what you would like versus "reality." Since the events and meetings budget is often the first line item cut within most corporations, there is not enough pre-planning that goes into what is actually needed and the costs associated with it. Consequently, corporations seldom set aside the necessary dollars for covering everything for their next event.
Tip: A smart in house meeting planner would do their employer a big favor if they approach the high level executives NOW to plan for event and meeting costs for next year!
This issue of Tips and Tricks written by Bruce K .Inouye of www.P2 Events.com
(Please contact this author for permission to reprint in any other publication.)