How To Maximize Your Event Budget
/Can you imagine a world in which you didn’t have to take budget into consideration when planning events? It might seem like every planner’s heaven, but I truly feel it’s akin to giving creatives no direction.
People tend to work better when they have some constraints and budget is a great one!
I am a firm believer that everything’s negotiable. If you have a budget, state that budget to your vendor and see if they’re willing to work with you within your means.
Look For Economies Of Scale
When budgeting for corporate events, I try to look for economies of scale. This kind of bulk purchase greatly reduces cost, here are a few tactics I use often to shave costs off programs.
If you’re using a vendor like a caterer or production agency, see if they’ll cut 20% off their fees if you guarantee them multi-program or multi-year business.
If you need to order lanyards for badges, can you order a larger quantity that can be used for the entire year’s events rather than just ordering one at a time?
Can you see if your hotel or venue will do away with venue rental in exchange for a slightly higher F&B minimum?
Get Creative!
When planning my own events, I always keep budget in mind.
When hosting an open house type of party (holiday party, house warming, etc.), consider making a batch cocktail like sangria rather than purchasing cases of expensive wine. It’s festive, and will save you a ton of money!
Instead of hiring a florist, buy flowers from your local flower mart and arrange them yourself. I will often get as many flowers as I can in the same color and mix them in varying vases. It’s elegant, effective, and costs so much less than hiring a florist.
Rather than hiring an event photographer, see if you can get a Taskrabbit to come use your own camera and shoot photos at your party. It’ll not only keep you from having to stay on top of capturing pin-worthy moments, but it’ll only set you back a hundred bucks or so!
