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FeedPlanning a Great Event in Tough Economic Times
with Turner Events and Marketing, LLC
Many organizations and companies are carefully looking at how they are approaching special events. The current market conditions have many companies re-thinking planning decisions. Companies are looking for ways to control costs and still hold great events.
Companies still need to hold events in these times for several reasons. Company parties help boost morale, fundraisers are needed to raise money for the programs of the organization, gala and recognition events are usually annual events and expected by the stakeholders, conventions and conferences provide networking, education, recognition and fun for attendees and positive public relations for the company.
An experienced event planner can advise companies about ways to reduce event expenses and still meet the goals and objectives. This can be a difficult task when employees and event attendees have grown accustomed to certain expectations. With careful consideration and knowledge of the company’s goals and objectives, all of the requirements can be met.
Some of the following cost controlling measures can be discussed to find the plan that works best for the company and the event.
Entertainment: hire a DJ instead of a live band. This will still give the event a great party atmosphere, but will help cut that line item in the budget. It can also bring an increased variety of music.
Date and time: switch the event either from a weekend evening to an event during the week or even during the day. Weekdays are easier to book as that is a slower time for facilities then weekends. Lunch catering choices are usually more economical than dinners and the cost of alcohol should be lower during a daytime event.
Location: hold the event in a restaurant or in the office. This can save rental costs and hopefully increase staff attendance. If the event needs to be held off-site, then negotiate with the venue on the costs. Know what you have to offer, for example; multiple meetings at the same facility can help your company get a discount on the events, request that the hotel waive the A/V surcharges, etc.
Food and beverage: some plated meals are less expensive then a buffet. Little changes in the catering selections can result in measurable savings.
Decorating costs: try using complimentary linens provided by the hotel or facility, or only order toppers versus full length linens. Instead of flower arrangements, you could display centerpieces that are re-useable. Not only will you save costs at this event, you will also be able to save costs at your next event.
When you have to decide where to cut costs, you should review all the areas and decide which line item in the budget can be reduced without causing any negative effects on the attendees or on the event’s objectives. An experienced event planner can help you find the correct items to reduce without reducing the impact of your event.
References: 2008 About.com
