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One of the biggest challenges we face in life is managing finances and budget. The same happens when it comes to the event planning and management as keeping the budget under control remains a tough call.

A structured and well-planned budget helps you control the finances better. Controlling expenses like venue cost, catering cost, food and beverage, and traveling is the most challenging for all event manager.

If you are one of those event managers looking for ways to cut down your event budget, have a look at some professional tips. These suggestions will surely help you in avoiding unnecessary costs

1. Determine Funding and Expenses 

In order to avoid any discrepancies, event planners have to meet one to one with the company. The purpose of the meeting is to find out what are their requirements and how much they are willing to spend. Both event planners and company should communicate even tiny details, for instance, the place, the time, the budget, food, and catering and things related to the event.

Based on these requirements, event planners will have a clear picture of how much the company is willing to spend and what they can do to avoid.

2. Hunt for Packages

When organizing an event, the first thing is to book a venue. Before you book an event, make sure to ask for packages that include seating, catering, food and other necessary amenities. For example, some venues might offer you necessary equipment such as audio and video devices without charging you. While others might arrange simple seating plan with no extra cost.

The best way to cut expenses is to compare each package and find the best deal that suits your given budget. Moreover, if the event time is in the evening, why should you opt for dinner when a high tea can serve the purpose at low cost.

3. Utilize Free Tools for Event Promotion

Event promotion and marketing can eat your budget away. However, in the digital age, why would you opt for expensive media advertising when social media platforms like Twitter and Facebook can get the job done? Event management app is also a great way to promote your sponsors and speakers.

4. Hire Volunteers to Manage Your Event

Hiring volunteers to manage your event is a great way without adding up the cost. For this purpose, you need to utilize and invest time in hiring and training volunteers. You can attract volunteers by giving free perks such as free entry to the event without purchasing a ticket. You can also attract them by offering free food. However, volunteers are not always ideal, as some parts of the event require professional people with years of experience.

5. Think about the Off-Season

Booking a venue in the off-season will help you stay in control of your budget. Take an example of airline tickets that are excessively high in the holiday season as compared to the off-season. You can apply the same strategy by choosing less popular dates for events, without putting the guests in trouble. Moreover, if you want more people to attend your event, choose a date when big players are snoozing.

6. Cut Cost of Catering and Food

Catering and food can eat your money away. Think of the ways in which you can cut the cost of catering and food. For instance, you can ask for lunch boxes to be served as a refreshment instead of opting for a la carte. Beverages can also cost you higher if you are serving beer and wine instead of sodas. Think outside the box and you will be able to manage your budget effectively.

7. Skip Giving the Goodies

If you are thinking of giving away goodies bag to your guest, think again. Giving a diary and a pen with your company’s logo will not work at all. Analyze what you are giving to people is necessary or just a compliment to win their hearts. As long as your event is engaging and useful, giveaways aren’t necessary.

8. Pay Attention to What You Have Planned

As mentioned in the start, you need to have a clear picture in mind, customized according to the client’s need. Most of the event planners might lose the track of what they have planned earlier which might lead to adding up the cost. Make sure to have a checklist with you all the time. Most importantly, your staff must be clear on what you have planned and how to keep watch on every aspect of the event that might lead to adding up the cost. In the end, don’t pay for the things that you didn’t agree to.

Conclusion

As an event planner, make sure to remember these tips and follow them in every event. By doing so, you will be able to cut much of the cost and save money. Moreover, utilizing proper tools and technologies such as event engagement app to automate the tasks and save some cost.

Ray Parker

Ray Parker

Ray Parker is an entrepreneur and tech enthusiast who loves to incorporate new technologies to get more efficient outcomes. When he's not marketing his latest venture, he keeps himself busy in writing technical articles to educate peers and professionals.
Ray Parker

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