7 Ways to Stretch Your Client’s Event Budget
It’s important that professional event planners provide great value to their clients. Gain a reputation for running amazing events while keeping within, or even below, you client’s event budget, and you’ll start seeing more and more clients heading your way.
Your Client’s Event Budget
If you approach the event with the right mindset, you’ll find it’s simpler than it seems.
Here are seven tips to consider when focusing on your client’s event budget:
1: Location, Location, Location
Choose your location wisely to get ‘more bang for your buck’, and your clients will thank you for it. Spend time researching various locations and their cost, and don’t only consider traditional venues like hotels and conference centers. You may just find a quirky and unusual venue that comes at a fraction of the price, and will WOW the guests, and your client.
One thing that event planners may not realize is that prices are rarely set in stone, and this applies to most areas, such as venues and catering. Be prepared to negotiate with suppliers, while aiming for a win-win situation, and you might be pleasantly surprised at the results.
3: Consider a Sponsor
As long as your client is agreeable, sponsorship can be a great way to stay on budget. If a local business is looking for exposure and it fits in with your event, then approach them and offer them the chance to sponsor the event.
4: Timing is Everything
Book your venue as far in advance as possible for best rates, and check with your client to see if they’re flexible about their event dates. Venues can be less expensive on certain days, so spend time discussing the various options with your client.
5: Manage the Budget
Keeping a tight rein on your client’s event budget is essential to your event planning business. You may think you’re making great savings on the little things, but how do they all add up? Make sure you know exactly what you’re spending, and on what.
6: Clever Catering
For events with food, don’t just go for the most impressive ‘sounding’ dishes without considering the source and season first. Food that’s local and in season can be more reasonably priced than imported, out of season ingredients, and is likely to taste better and fresher. This often depends on the venue and location though, and be sure to work with your caterer to maximize the catering options and budget for your client.
7: AM or PM?
Consider breakfast or lunch events, as they’re likely to be less expensive than an evening event, and can be just as impressive. Venues usually cost less to book during mornings and afternoons, and you’ll probably find that you won’t spend as much on catering as you would for an evening event.
How do you stay on track?
In the comments below, I’d love to hear from you. Which of these 7 tips do you use to stretch your client’s event budget?
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