4 ways to get more out of your budget

4 Ways to Get More Out of Your Budget

Did you know CMOs typically spend 20%-25% of their budget on events? Here are 4 ways to get more out of your budget.

1. Go Green

When there is an option for digital signage verse print, there are many advantages: 

  • Sponsors are more drawn to digital marketing.  In most situations they can be offered digital advertising (Video or slide show) verses a logo or a static advertisement. 
  • The option of selling “commercial time” verses a stagnate sign.  One digital sign can sell multiple spots throughout the day.  Moving signs also attract far more attention.
  • Sponsorship not only “pays” for digital signage, but sponsors feel they get more ROI with digital verses print.
  • Some venues charge a cleaning, trash or disposal fee for events with excessive debris removal.  Know this cost and if they are being paid by you, or your General Contractor.

2. Work with a local DMC – they know their city!

Use local expertise when planning shuttle routes when needed.  They understand traffic flow, and have knowledge of city events that could affect your transportation or other event requirements.

3. Look for non-typical venues for your smaller events

Not all events are created equal!  Yes, some events demand a certain level venue, but others can be served with the same level of care at a smaller conference center, town owned convention center or second level hotel at a much lower cost.  Frequently these venues can offer services such as WiFi or F&B at significant savings.

Technology cost can often be negotiated with added savings as these facilities do not typically receive the premium rebate from their vendor.

4. Negotiate WiFi and Networking rates for hotel rooms and meeting space

WiFi has become an expected amenity from conference attendees.  Negotiate these rates before you sign a contract.  This includes rates for your attendees and staff in their hotel sleeping room.

Most events do not need the highest end service as their attendees do little more than check email throughout the day.  Get daily usage reports from the venue provider, so you can negotiate based on actual historic usage.

For critical uses, such as staff communications, have the WiFi segmented for special needs.

Negotiate rates for wired services such as speaker ready and content handling.  When possible, have your technology provider use one drop from the venue and split it for several areas within one room (offices, email area, registration).

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