There’s no denying the fact that planning and hosting an event is a time-consuming process and with so many different aspects to organise, the costs really do add up. From the venue, catering and entertainment through to the marketing, ticketing and event logistics, it’s very easy to find yourself spending too much and exceeding your budget.
Sticking to your budget is extremely important since the aim of most events is to maximise profits. Therefore, we thought we’d share some of our top tips for reducing the costs of the most expensive aspects of your event.
Marketing and Promotion
It’s so easy to spend money on marketing campaigns and before you know it your marketing budget has been spent on social media ads, search ads, paid sponsorships, brand ambassadors, and whatever other marketing channels you decide to use.
The good news is, there are ways of cutting back on your marketing efforts without hurting ticket sales. For example, you can use your social media accounts to promote your event effectively and without spending a penny, except if you want to boost posts.
It’s also worth keeping in mind that your previous attendees are the ones who are most likely to buy tickets again, so targeting your mailing list with email campaigns can be a great way to increase conversions without breaking the bank.
So our top tips for reducing marketing spend is through taking advantage of inexpensive digital marketing tools.
Speakers and Performers
Getting speakers or performers at your event who are going to help inspire people to buy tickets can be a challenge, it also can come at a price! Luckily, there are ways in which you can reduce the amount you spend on your special guests:
- Look for special guests who may be in the area at the time of your event, whether it’s because they’re promoting a new book, an album, or whatever else. By doing this, you’ll be able to save yourself the cost of their travel and accommodation.
- Book your special guests well in advance and inquire about any discounts for doing so.
- You could also enquire about getting a discount for using speakers or performers on multiple occasions.
Most events have a budget for printed materials, this includes things like handouts, direct mails, programs and tickets. The cost of these things can add up to a significant amount!
One way to cut down on this expense is to limit the number of things you need to print. Plus as an added bonus, doing this actually increase your attendees’ satisfaction as you become an eco-friendly event.
Here are some ways to reduce your printing costs-
- Replace your paper tickets with an event management system that has digital tickets.
- Replace printed programs with an event app
- Replace onsite signage with personalised apps.
Technology is getting more and more affordable and replacing paper is becoming increasingly popular amongst event organisers.
Choosing the right event venue is one of the most important parts of an event and more than likely it’ll be the most expensive part of your event. While you want to find the best price you can, it’s important not to sacrifice the type of venue you need to save some pennies.
Our top tip for booking your event venue is to make sure that before you sign any papers, make sure that things such as water usage, catering, cleaning, and any taxes and service charges are taken into consideration.
So there you have it, some of the ways in which you can help to reduce the cost of arranging and hosting your event.
When it comes to planning events, the team here at Winter Gardens have a vast amount of experience and knowledge. To find out more about how we can help you with your event, give us a call on 01254 629700 or email [email protected].