One of the most difficult aspects of event planning is sticking to your budget. It’s very easy to end up spending more than you had originally planned, especially when you start getting excited and coming up with new ideas. Here are some tips that can help make sure that you don’t overspend:
Don’t Go Over the Top
You don’t want to be that person who goes overboard.
- You might spend money on things that don’t matter.
- You might spend money on things that you don’t need.
- You might spend a lot of money on something and then never use it again because it wasn’t worthwhile in the first place, or just doesn't work with your brand identity or message.
The key to making the most out of your budget is knowing what not to do when planning an event:
Get a Timeline Together
The first thing to think about when planning your event is to get a timeline together. A timeline is an important part of the planning process because it shows you what steps need to be taken, how many hours or days are required for each step and what resources will be needed (i.e., food).
To make one, look at everything that needs to happen before, during and after your event. Then break down each of those tasks into smaller chunks like "logistics," "food" and "activities." These will help you determine how much time it takes to complete each task so that you can create a more realistic schedule with more time allotted for last minute changes or unforeseen problems.
Once you have this done all that's left is putting it all together! This makes sure that there are no gaps in between activities at any point throughout the day thus giving everyone involved enough time
Use Social Media
Social media is a great way to get the word out about your event, and it can be especially helpful when it comes to registration. Social media ads can drive traffic to your website, where people can register for free by providing their email address. You can also use social media ads to drive RSVPs by encouraging users to click on a link that prompts them to say they'll attend the event. Finally, if you use Facebook or Instagram hashtags during a live video stream of your presentation at the event itself, attendees will share the video with their friends in real time, generating buzz for your brand on social media platforms even after the fact.
- Start Early
It's the first rule of event planning, and it can't be stressed enough. You need to start early if you want your event to succeed. Get your vendors lined up, get your venue booked, get your budget together, get your marketing plan in place and approved by the CMO (Chief Merriment Officer), assemble a team that includes an event planner or coordinator who knows what they're doing—and then make sure everyone knows their roles before they do anything else! That includes getting all the equipment you'll need (tableware, cutlery, etc.), hiring entertainment (think comedians or bands) and transportation arrangements set up well in advance of kickoff day.
There’s a reason sponsors are called “partners.” Like any business relationship, they should be partners in the success of your event. If you can make your sponsors part of the team early and often, they will help you reach your goals and save money along the way.
Here are five ways sponsors can help:
- Reach your audience through marketing efforts on social media or at events before or after yours to build excitement about attending
- Get more exposure from signage in mailers and emails sent out to attendees before and after your event as well as in other materials such as flyers for display at local businesses where attendees may frequent during their stay in town (i.e., hotels)
- Get more people to attend by offering discounts for those who register early; this could also be tied into a contest where winners receive free registration!
Use these tips to help your event be budget friendly.
As you plan your event, keep these tips in mind to ensure that it's budget friendly and fun for everyone involved.
- Don't go over the top. You don't have to spend thousands of dollars on a party; just make sure it's something low-key and enjoyable for all involved.
- Get a timeline together as soon as possible so that you can stay on track and not go overboard with any particular aspect of the party (such as food or decorations).
- Use social media! This is one way to get people involved without having them take part in anything too strenuous—just ask them to share some pictures from your party afterwards! It'll also help spread word about what went down at your event too, which is always good when planning future events or building relationships with sponsors who might want in on the next big thing happening within their industry! Plus there aren't many downsides other than maybe running into some trolls here and there but nowadays those kinds of things tend not happen much anymore thanks to filters like Facebook's algorithm has implemented."
Saving money can be a daunting task when you’re planning an event, but it doesn’t have to be. Just follow these simple tips and you will save money, or at least make sure that the money you do spend is not wasted.
Remember to check out the #1 trade show for event planners and event professionals. The Event Planner Expo is coming in October!