News & Articles - event budgeting

  • Four ways event planners can get ready for the spring conference season

    If you’re like many meeting planners that work in conference and professional development event management, your peak season is the spring. During this time you’ll see many multi-day conferences, award shows, annual general meetings, etc. While the timing of these events are convenient for attendees since they occur outside of other peak seasons such as summer holidays and year-end, this also means that as a planner, you can expect things to pick up well in advance. Part of the nature…

    Career Development, Meeting Community, People & Profiles, Special Events & Conferences

  • Is doing more with less in events possible?

    When one does a Google search of the text “doing more with less” it comes up with 55,400,000 results, and when one further refines it to “doing more with less in events” it shows 28,200,000 results! Staggering! With my Google findings in mind, combined with my own experiences with limited event budgets, I’m writing today to offer some creative and logical ways to keep your event’s expenses down, thereby “doing more with less.” It is my opinion – well-seasoned after…

    Event Budgeting, Event Operations

  • Measuring event success: 16 tips for helping your clients understand money well spent

    After the 2008 recession, the events industry took a major hit. Companies went from having lavish parties and extravagant events to cutting down to the bare minimum. Then more than ever, event industry professionals had to consistently prove their value and the value of business events to executives and decisions makers. All of a sudden, measuring the ROI and the overall quantifiable success of events became a top priority in order to show the real value of face to face…

    Event Branding & Marketing, Event Budgeting, Event Operations

  • Building trust: What meeting planners want suppliers to understand

    Meeting planners are hardworking, resilient and well-organized individuals who rely upon a variety of suppliers to deliver the meetings they manage. They face the stresses of orchestrating an endless array of tasks and suppliers into a seamlessly delivered meeting, conference or convention. The reliance of the planner upon their suppliers cannot be emphasized enough. There is no second chance as the planner gets one opportunity to deliver their meeting well. Each supplier inherits partial responsibility, not only for the success…

    Event Budgeting, Event Operations, Meeting Community, The Business of Meetings

  • Six reasons outside supplier fees are a bad idea

    Meeting planners have the complex task of managing conference budgets and the wide array of suppliers that come with it. We do our due diligence to ensure everyone gets their fair share while maintaining a positive bottom line. Unfortunately, some suppliers that are an essential service to hosting a conference, like conference facilities, are taking advantage of their position. One of the ways is through outside supplier fees in the area of audio visual services. Most conference facilities have an…

    Event Budgeting, Event Operations

  • Thinking of reducing prices on your event services? You might want to think again!

    In the course of marketing strategies, some small businesses may consider reducing prices or offering a discount as a sales incentive. Two critical questions come to mind. Will lowering the price drive enough sales to make up for the loss of income due to the reduction? Will the current operational structure support the increase in volume of sales driven by discounting? When adopting a price incentive strategy, it is important to understand the variables in profitability and how that impacts…

    Event Branding & Marketing, Event Budgeting, Event Operations, Meeting Community, The Business of Meetings

  • Foundation building: Examining the essential elements of event excellence

    What the guests see or experience when they attend a meeting – the tables, chairs, linens, centerpieces, speakers, band, AV, signage, etc. is the end result of months (or sometimes years) of work, as the stakeholders and meeting professionals have thoughtfully laid  a foundation for the meeting to be successful based on the stated objectives. If we begin with the end in mind, we can ask, “What do we want participants to walk away with? What feelings, what actions do…

    Event Budgeting, Event Operations, Meeting Checklists

  • Event budget templating: Six reference lists to build your own budget templates

    The ROI of special events and meetings is often measured by the financial outcomes reviewed at the conclusion of the event. To achieve a positive outcome, it is essential to accurately project costs and monitor the budget assignment throughout the event delivery process. The successful budget forecaster will establish an organised budget reflecting the wide range of cost factors inherent in the creation and delivery of each event element. A template approach to building and implementing a working budget begins…

    Event Budgeting, Event Operations

  • Budgeting for event design

    In our world of events, clients are continually seeking innovative solutions for their event needs. These solutions cost money! Across the event spectrum, budgets are as wide as the missions are varied. In all cases, the financial parameters of these events govern the critical decisions made throughout the development and implementation process. Within the ‘financial parameters’ of designing and producing an event, there are critical budgeting tracks to consider. Each ‘parameter’ has its own set of guidelines within the context…

    Event Budgeting, Event Operations

Venue & Supplier Profiles