Business Solutions

Surefire Ways To Save Money On Your Next Event

Image Credits: pixabay.com

For the past couple of months, I have been spearheading one of our company’s main events. This newfound responsibility made me realize why some institutions hire Event Managers and other professionals. Making sure everything runs smoothly within the tight budget was a burden that I had to carry on my shoulders. However, I kept thinking how this event will soon bring new contacts and exciting memories.

To deliver good results on a shoestring budget, consider these tips:

START PRIORITIZING THE VENUE

A huge chunk of your budget focuses on the event’s venue. Moving away from the CBD area and dwelling on the outskirts is a smart move for your wallet, but your attendees may be discouraged. You need to consider their travel time and parking fees.

Image Credits: pixabay.com

Image Credits: pixabay.com

Let us be honest! The venue that you will choose will never please everyone. This is why my boss highlights that conducting a “location survey” prior the event is a bad idea. If you cannot take their opinions into account then, you must depend on your negotiation skills. Find a person on the inside who can help you with the booking process or offer you discounted rates. Ask recommendations from your friends and family members.

WORK WITH SPECIALIZED STUDENTS

In a competitive job market such as ours, Polytechnic and University students are keen to secure working experience before they fully join the workforce. Make this your advantage by hiring interns or part-timers. I am not talking about hiring any student that is willing to offer their knowledge for a relatively cheap rate! Hire people who study graphic design, photography/film, management, and marketing.

If you are willing to spare some time to training, both of you can benefit from the experience. Think about it! You are giving a worthwhile experience and pleasant recommendation for the intern while the business is receiving low-cost (and sometimes free) services. Post job openings at www.freelancezone.com.sg and www.gumtree.sg for FREE!

SEEK A MUTUAL RELATIONSHIP

My co-worker was approached by an agent from a prestigious insurance company. He was interested in setting up a booth at our event. This works favorably to both of us as our clients belong to his targeted age and socioeconomic group. This situation proves that sponsors can pay by providing products or services at reduced or no cost. Some institutions prefer exposure as their currency. Sponsors do not always have to provide cash!

Approach possible sponsors by privately messaging their social media accounts on Facebook or Instagram.

Image Credits: pixabay.com

Image Credits: pixabay.com

As the head of the event, it is essential to go the extra mile. Do not settle for two or three options. Widen your options and shop around!

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