Ways To Save On Corporate Event Costs – Part 1

corporate event budgetHow can you reduce the costs of your corporate event and yet deliver something guests will remember?  You want your event to stand out, but you’ve got to stay within your budget.  Should you cut back on food & beverages, corporate entertainment, marketing, staff, your venue?  If you are wondering the best way to reduce the costs of your next event, these tips will help you save time and money.

You can often save your budget by being up front about your needs and goals with vendors.  They are professionals in the corporate entertainment event market and their focus should be on the success of your event.  It is essential to build a strong relationship with them and listen to their advice.

Know Your Goal:

It is necessary to understand the goal for your event before you any cut corners.  Next decide on your theme.  Every time you need to make a decision, ask yourself if your goal or theme is dependent on that item.  If it is, then decide how that expenditure will affect these before making the cut.  Keeping your goal and theme in mind makes decisions on reducing costs for your event become easier.

Plan The Timing And Location Of Your Corporate Event:

If this is an option, you can save by scheduling your event during a time that isn’t peak for your venue.  They can fill a time frame that is vacant and you can save.   This is one reason many companies now host “Winter Celebrations” during January, rather than a “Company Holiday Party” during December.

A national event can also save by moving their location to a lower cost area, such as Baltimore instead of New York City.  These savings will be felt in all areas of the event planning, venue, meals, beverages, lodging, technical, entertainment and transportation.  At the same time, you lower hotel rates for attendees too!

Hosting multiple events at a location can also generate generous discounts.  In some cases, the property may also discount for providing advertisement of the property in your event marketing.

That is all for today.  We'll follow up with some additional cost saving tips tomorrow.
Wishing you success with your event!

Click here for part two