How do you optimize your event budget?

A complete understanding on the objectives. Too many organizations confuse fundraisers with friend raisers and vice versa. Even with a limited budget you can prioritize the amenities and features if it’s a special event while ensuring the integrity and purpose of an actual FUNDraiser. Quality of the event is very possible but don’t shy away from letting your audience and attendees understand the purpose. Promoting inkind products and services secured for the event also displays your commitment to quality while keeping costs down in order to maximize revenue to apply towards your missions impact.

Prioritise spend on a curated program, environment and approach laser focused on guest experience and engagement and addressing the question ultimately posed by all guests - why should I attend / what’s in it for me rather than exclusively focusing on event host agendas.

I first start with a site visit to see what I can do in the space in relation to the type of event. See what best works in terms of renting the space. Hourly rate, day rate etc. establish what comes with using the space. examples, what licenses they have and what I need to get if any. Decorating is a big expense, does the space lends itself to less decoration thus saving us an expense. Working with vendors to minimize our cost if applicable to have vendors. Options vary according to the event you are doing.

Three ways to optimize event budgets come to mind: 1. Prioritize tasks and allocate a budget to those which will have the greatest impact. 80-20 rule can be applied here - 80% of the impact will come from 20% of the tasks. 2. You can get more from an event if you can partner with sponsors. Budgets increase and more can be achieved with greater value. 3. Be smart with your budget. Focus on value. Why spend $2000 on couriering hardcopy invites, when you can send softcopy invites over WhatsApp for free? Your $2000 could be added to your food budget to offer more variety.

Often we fail to clearly define WHY we are holding an event. Clearly define the purpose of your event, whether it's to launch a product, raise funds, celebrate a milestone, or something else. Understanding the purpose will guide your budget decisions. Identify your target audience and their preferences. Consider demographics, interests, and needs to tailor your event to their expectations and optimize your budget allocation. Having clear objectives will help you prioritize budget allocation to achieve these goals effectively.

Choose a venue that supports your objective(s). Price and location are certainly a factor however one should examine if these factors support the goals of the event. In fundraising for example a cheaper location in the off season may help to save money but it may also deter potential donors. A large ballroom may be suitable to create a grand impression for a gala but if your goal is to inform or raise awareness perhaps a smaller space with less distractions allows for better focus for guests.

Every venue has different rules that govern which vendors you're allowed to use. It's critical to understand the limitations and restrictions at different venues, as their rules can make the cost of your event explode.

Opt for unique, versatile event venues like parks, galleries, or community centers that align with your theme. These alternatives often offer cost savings compared to traditional spaces.

Selecting the right venue for an event stands as a critical decision intertwined with the theme, audience, and budget considerations. As an event planner, understanding the intrinsic connection between these elements is pivotal. The venue not only sets the ambiance but also shapes the entire attendee experience. It should harmonize with the event's theme, resonate with the audience and amplify the intended message. This selection should also be within the allocated budget, ensuring financial feasibility without compromising quality or experience. To achieve these demands; meticulous research, negotiation, and a keen eye for detail to secure a venue that not only aligns with the event's essence but also fulfills the clients' expectations.

We must choose a venue totally aligned with the theme and spirit of the event. If we can surprise our guests with places that are normally closed to the public, success is assured. If we also have enough budget to be able to theme the space, then it is better to opt for an open-plan venue.

Use digital tools to help develop Metrics for Success. Create measurable metrics to gauge the success of your event. This could include metrics like attendance numbers, revenue generated, social media engagement, or post-event surveys. These metrics will help you evaluate the event's impact and make data-driven decisions for future budget planning. Menti is your best friend :)

There are so many communication channels now that it can get overwhelming: you're promoting an event, don't you want to promote it in as many places as possible? But quality is more important than quantity. Think about your audience, and focus on the channels that will help you engage them the most. When you have limited resources (including time!), focus your efforts on the channels that will have the most impact to help reach your event goals. Sharing assets with your partners is also a great, free way to use digital to spread the word. Create a Dropbox or Google Drive of social media graphics, flyers, past event photos, news releases, suggested social media messaging and share it with any partners, sponsors and media.

There are now many event technology options out there. What do your event guests value in their event experience? What are some of the overarching goals of the event? Answers to these questions will help you determine the most important features for the event management tech you select. There are now many start-ups with robust software whose prices, customer service, and technology contend strongly with major competitors like Cvent, Whova, EventMobi, Eventbrite, and others. Do some serious research before deciding!

Using Digital means and resources are key to a great event and convenient way for the attendees as well. The adoption of Digital means increasing control and saving costs for the organizers.

In-kind partnerships are often overlooked. Depending on the type of event, it could be an opportunity to offset costs. Make sure to set clear expectations on the partnership give/get and document it so everyone has clear expectations.

Collaborating with sponsors and partners who can provide financial or in-kind support for your event can also introduce an unwanted narrative.... as there is a higher likelihood of getting carried away in the partnerships (and their agenda) that the main objective of the event is lost.

Co-sponsorships are a great way to: 1. Split costs 2. Widen your network (instead of keeping to the same circle) 3. Building stronger relationships 4. Getting referrals

As a Charity Founder, I know the importance and impact of working with partners and sponsorships. Partners work in being able to supply contact lists, financial help and saves times as if you partner up with something like a Marketing or Social media company, then they not only have contacts but time saving and money saving expertises. Sponsors work well with providing financial help ( we all know how expensive putting on events are) by raising awareness to fellow business owners, providing auction items and helping to sell tables etc

Creative sponsorship package should contain: 1. Customized Brand Integration: give sponsors prominent branding during the event, on promotional materials, and online. 2. Engagement opportunities: workshops, speeches, and interactive experiences showcase the sponsor's expertise. 3. Data and analytics: provide sponsors with attendance, engagement, and other metrics after the event to assess their commitment. 4. Content creation and promotion: co-producing films, blog entries, or social media content can showcase the sponsor's involvement and event advantages. 5. Sustainability: offer green event sponsorship options. The sponsor's image and social responsibility may improve.

1. Choose creative, budget-friendly event themes that resonate with your audience. Look for DIY or local options that minimize decoration costs while maximizing impact. 2. Opt for unique, versatile event venues like parks, galleries, or community centers that align with your theme. These alternatives often offer cost savings compared to traditional spaces. 3. Get creative with event materials by reusing decorations, signage, or props from prior events. Invest in reusable, eco-friendly items for future use. Incorporate interactive elements like DIY stations, games, or workshops, tailored to your event's theme. These cost-effective features enhance attendee experiences.

Instead of approaching this from a “save money!” perspective, try instead to primarily focus on the biggest wins. Here’s an example from my most recent event: Our budget was too tight for any kind of decode beyond the tablecloths provided by the venue. Instead of focusing on that, though, i focused on the goals of the event, and realized we had to have *some* kind of stage backdrop at minimum. Another objective of the event was to build relationships with local businesses in a new area. So I made some phone calls and negotiated a win-win where the company providing backdrop and table decor was happy to set up and tear down for free in exchange for promotion to our network. Our goals were accomplished and so were theirs.

It's all about the SET and SETTING. As the event planner, it's your job to curate an experience that is not just inspiring in nature, but that generally facilitates the most important human interactions to achieve the event's goals. Are you networking? Celebrating? Idea sharing? Competing? Performing? -- What are the most important take-aways for the guests? Answer these questions with a flexible, resourceful, collaborative working group of event stakeholders to come up with some creative ideas optimize the budget while maintaining maximum impact!

Be creative by thinking beyond material items. How can people help create the space? Touch base with your team and partners to identify ways that individuals can fuel the event’s atmosphere. Don’t forget that beautifully staged events can fall flat while low-budget events can be a blast. So think creatively about what can happen in the space and how engagement can be facilitated, as well as considering what it looks like and what’s within the space.

“Before you leave the house, look in the mirror and take one thing off.” Coco Chanel Same for any event project - once you’ve mapped out event journey and associated budget to facilitate- with a critical eye sift the must haves from the nice haves and drop something outright.

Sustainability Practices: Implement eco-friendly measures to reduce waste and costs, such as using recyclable or biodegradable materials and encouraging sustainable transportation. Alternative Catering: Explore inventive catering options such as food trucks, potlucks, or self-serve buffets to offer diverse food choices within budget constraints.

The event finishes when load out finishes. That has to be planned with the same thought as load in, set up and dismantle. Have a rested crew for dismantle too. As an empathy demonstration have a coffee machine and some refreshments ready, treat them good. They are the ones making everything happen.

Don't get caught up in what you "always do". Things change over time. You might realize a hospitality event is more valuable than a booth at a show or find that an event held in spring would be more valuable held in fall. It's easy to get caught in planning what you want to do this time around and skip the "should we do this at all?" question.

A key idea to keep in mind is to find a good speaker or presenter for the event who can help us add a bit of sparkle to it. Someone who will be also very useful to control and set the timing of the event and to help clarify what will happen at any given moment.