5 Ways to Save Money for Corporate Event Planning

It takes some effort to host a corporate event successfully. A lot of planning goes into it to make the event achieve the goals set. W...


It takes some effort to host a corporate event successfully. A lot of planning goes into it to make the event achieve the goals set. With competition intensifying, no business would want to let an event pass by without bringing home the advantages. There are some clients that want to organize an event in a manner to save some money as well. They often have a limited budget to maneuver with, but surely not lacking on the aspirations. 
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Here are 5 ways to save money on your next corporate event -

  1. Know your budget for the whole event 

    First of all, you must have the idea about the budget planned for the whole event. Then, you can have to a break-up of this amount for various causes. There has to be a clarity on what to spend on the venue, snacks, decorations and all things that matter. You need to be sensible in regard to allocation budget for each category. Only then can you know what to cut, where to save and how much.

  2. Find a willing and enthusiastic sponsor 

    Advertising costs have gone up considerably and not all companies can afford that. There are some that have the aspirations equivalent of a multi-million dollar brand yet lacks budget to support their promotional causes. For such players, you event could be a right platform to leverage and enhance brand recognition. So, you can target such enthusiastic entities and promise them a great exposure at your event in lieu of money. The best you can do is to find companies from own industry or domain.

  3. Economize on the venue cost 

    While selecting the venue for your event, two things must be kept in mind – check occupancy rate and haggle for the charges. So, start by checking out local listings and focus on finding venues with fewer bookings. Your bargaining power will be proportional to the occupancy rate of the venue. So, be careful and go only where it fits the bill perfectly. And secondly, don’t choose a date when the industry in general hosts events!

  4. Look to have guest speakers for free

    Obviously, finding speakers is a major decision in your corporate event planning. And the step becomes tougher when you have to save on the event. So, first up, look to have guest speakers for free by offering them a well-planned package and showing them the benefits from attending the gig. Plus, try to find speakers scheduled to present in the area the day your event is planned. If nothing works, there is the route to bargain to fall back upon.

  5. Don’t go lavish with catering

    You can’t save on the event unless catering expenses are curbed. And this can’t be possible unless you decided to drop off some items from the menu. Similarly, you must avoid choosing established caterers as they generally also charge for reputation. So, don’t go lavish with catering, give a new caterer a chance and get a watered-down menu to save cost.

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Vyas Infotech: 5 Ways to Save Money for Corporate Event Planning
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