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5 Tips to boost up Cost-Saving Strategies for Events

October 19, 2017

Like the former American President Benjamin Franklin quotes, “A penny saved is a penny earned” – and just like that we all need to focus on saving our costs. So, do you want to learn how to minimize your budget for conference and meeting expenses?
Here are few budgeting tips from event professionals which will help you to reduce your cost for events and meetings. And none of these will harm your experience which you seek in an event.

1.Try being flexible:
Event planners usually create and have the cost cutting option for them. They could do that by giving consideration to various location and dates for their events or meetings. Also by making adjustments to the schedule of the event, it can also help you save your money. For example, you can start your event post lunch period, so that you can eliminate the need to supply an extra meal to the event attendees.

2.Plan your Event ahead.
When it comes to delays in your event planning and adding additional of audiovisual production and framework, it can slow down your entire project and may also increase your costs. Planning your events ahead will provide suppliers and vendors with extra options, by doing this it will also save the client money. This allows the planners to ensure the labor and equipment needed for the work which would be confirmed and available. Also, last-minute changes to any event can disturb other projects as vendors usually work on multiple events at one time. Hence, it is better to plan the events ahead of the deadline.

3.Moderate power consumption.
With new modern equipment and growing technology event planners too can use it in their planning. Energy-optimised audio systems and battery-powered lighting and can possibly cut and reduce your electricity charges by thousands of rupees. Less power consumption is one element that will benefit everyone disregarding of the event size, the location of the event, or even hosting a party.

4.Availability of Wi-Fi.
Wi-Fi is a must for any company because it is fast, free and reliable. For this, Wi-Fi is a must, so one must know what it will cost you throughout the venue. They might say in the contract that the venue is the exclusive provider of Wi-Fi, but if you consider negotiating to exclude that restriction. Because there are various independent Wi-Fi providers who may offer better pricing and more up-to-date equipment than your venue guy.

5.Invest in reusable things.
If you think about long term planning then you need to use materials which can be used more than once. You could use graphics that can be reused various times. A planner can also invest in a stage-set which is adaptable, with elements that can be moved easily. For instance, the lighting and visuals can be used in various ways to make the same stage-set look fresh and interesting. Also with the use of multipurpose technology good and services, such as mobile apps and online meeting planning can be maintained and used for future meetings.

These are few tips and ways where you can boost up cost-saving strategies for your events, meetings and even conference.