Top 5 Tips To Reduce Event Costs!

cost reduction

Among other challenges faced by event planners, a crucial one seems to be managing the event costs. So we wondered, what could be some good strategies to help you cut down on the cost?

The top 5 ideas you might wish to consider are

1. For any event, there is always a venue, food & catering service. Try and look out for good package deals. You might also try contacting people who hosted their events at the same venue and find who their vendors were. Serve food that speaks good quality rather than spending on a huge spread. Always remember to NEGOTIATE!

2. It is a must to have people RSVP for your events and make sure to followup and confirm their presence at least 3 days before the event. Having a fixed number of ‘Heads’ will always help you optimize your budget. Think about the extra seating, food and beverage costs which might end up incurring if you do not have a proper idea of the number of attendees.

3. Try hosting during off season. We usually call it the ‘slower months’. Avoid public holidays. Your vendors would definitely strike out a better deal during the off season.

4. Cut down on paper/printing costs. Use Social Media for event promotion instead of spending on newspaper ads, banners and flyers. Go for paperless check in systems at your registration booth using modern day technology in form of mobile apps. You can even invest in event app thereby sharing online information and saving paper.

5. Utilize Volunteers. Even though some of you may disagree and rather go for skilled professionals for running technology/catering/bar tending etc, however, using volunteers can proove to be an excellent means for reducing expense. All you invest is the time for training them and of course pay for their travel and food. There are a pool of fresh, talented people who are just looking for some experience at a live event. You can utilize them for services like meeting/greeting guests, guiding them to relevant booths, shadowing an event manager and even stewarding

These were our top 5 ways of cutting down on your expenses at Events. What are yours?

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