Corporate events provide several benefits to your organization. Hosting symposiums, conferences, business meetings or company dinners reinforces your image as an industry leader and creates networking opportunities. It helps foster and strengthen relationships with customers, clients, and employees. It also builds loyalty and can help you close sales.
Corporate events can be stressful and time consuming. They require careful planning and budgeting. The planning process becomes even more challenging when you’re working on a limited budget. Your brainstorming ideas can be put on hold once you realize that you may not have enough money for your next event.
Here are some great tips for corporate event planners who are looking to use their budget wisely.
Search for guest speakers early
Advance planning is beneficial to land the best speaker for your event. The earlier you contact the person, the better. Other speakers bump up their rates as their calendar fills up. To avoid this, we suggest that you contact a professional speaker at least 6 months prior to the event.
It is also a good idea to book a speaker who already has an appearance booked in your area. This secrect can help reduce your expenses since you will no longer need to spring for transportation and lodging.
Think through food arrangements
Food and snacks is one area where you can really make the most of your budget. Instead of a sit down meal, consider offering buffet. Buffets eliminate the need for a large wait staff, and they take up less time in the schedule, too.
Another added bonus is that buffets provide attendees an opportunity to interact with one another in a more comfortable mealtime environment.
Find the right venue
Finding a venue is one of the most challenging parts of planning an event. There are a lot of things to consider when looking for one. Of course, you need to consider your budget, the attendees, and the accessibility of the venue.
You want to make sure that the venue fits your budget. Also, find one that will be able to accommodate all the attendees. There is no point in booking a big venue if you are only catering to a small group.
Some of the savvier companies have gotten really creative when they’re putting on events. One way to make the most out of your budget is to seek sponsorships for your event.
Find a budding company that is looking to get their name out in the public. Often, they don’t charge much for their services. Others would even offer their services for free. Take advantage of that.