Concerts, conferences, exhibitions or sporting events are your responsible work and an unforgettable experience. There are many tasks behind the organization of such events which should be carefully monitored. Regardless of the type of event, there are several specific cost-first tips that are essential to keep in mind and will be covered in this article.
Define the client’s budget
Unfortunately, it is impossible to immediately know the budget of the event that you must organize if you are chosen as an organizer. However, with an incoming request from the client, it is possible and necessary to agree on the budget in the first place. Try to get information from the client about the maximum allowable amount, for which it is undesirable to go. Also, find out about the estimated mandatory costs to properly allocate the budget for all its requirements for the event.
Determine the main items of expenditure
Once you know the limits of your budget, start by identifying the main categories of expenses and what is vital for your event: venue, entertainment, staff, catering, gifts for guests, etc. Based on the information received, it will be more obvious what to spend the bulk of the expenses. Discuss all its main requirements with the client before starting work and drawing up an estimate.
Determine priority spending
After identifying the customer’s needs, draw his attention to an important point, namely sufficient quality. It is important to explain which expense item you can save. You cannot completely impose your vision and your wishes on the client because you must never forget that you are an entrepreneur. As an event manager, your task is to organize an event according to the customer’s wishes. Also, share your experience and be an expert, convey your budget concerns.
Translation budget planning
International events often require translation services and translation materials, including interpretation booths. The cost of services depends on the specifics of the translation, volume and urgency. With good budget planning, you will avoid problems related to incorrect translation. You will communicate fully with business partners, conveying information competently and accurately to the target audience.
This can increase audience reach and attract additional funds and activities (raffle prizes, photography, entertainment during breaks, etc.). Moreover, the involvement of influential international partners can raise the status of the event and attract even more audiences. Partners receive brand advertising in return. As a rule, a special area is allocated during the event, where their stands are located.
Prepare multiple quotes for the event
This point is not always mandatory. You can act according to the customer’s request. You can make different estimates in advance if necessary. It is recommended to pay attention to several points: choice of site, catering and entertainment. Show multiple options for each item and clearly explain why you’re offering this way and what it will ultimately yield. The most expensive is not always the best. The customer may think that an expensive artist is more important than everything else. If the choice hits the budget and hurts the quality of the whole, look for options that will preserve the positive final impression of the event as a whole.
Be sure to find an extra expense item to advertise the event in any way available. Start talking about the event on your social media pages. If you have already organized such an event, send a newsletter to its participants. Try different types of paid traffic: Google search and ad networks, Facebook and Instagram feeds. Remember to periodically evaluate the effectiveness of advertising channels using Google Analytics. To do this, mark all links with UTM tags and set goals for registration or ticket purchase, depending on the specifics of the event. Cut out anything that isn’t working for you.
Organizing an event is a complex process, so planning everything is crucial. If you’re hosting an event with more than one person, designate a responsible person for each item. Also, don’t forget to make deals with sponsors and clients. Remember that the more events you do, the better it will go and the less time it will take to prepare.