by Amita Patel, Area Director of Sales and Marketing, Kahler Hospitality Group
In 'Frugal Meeting Planning' part 1, we discussed money saving tips based on location, budget, flexibility, and negotiating. Let’s now look at F&B and a few other areas which could help you cut back costs for your next event.
Champagne events on a beer budget
Food and beverages can make or break a meeting. Experts quoted in industry trade publications spend a great deal of time focusing on how to get the service and quality just right, because it’s the item attendees most often comment on.
By Rose Curiel, BizBash
Nonprofit event planner Todd Hawkins shares his tricks for leveraging everything from social media to established vendor relationships to cut production costs.
As the founder and head of production company the Todd Group, planner Todd Hawkins has come to specialize in nonprofit events, impressively counting the West Coast chapters of St. Jude and the Red Cross among his many clients. Given the fact that he consistently works on fund-raisers—where the priority is raising rather than spending money—Hawkins definitely knows a thing or two about cutting productions costs—and his tips work equally well for both nonprofit and corporate events. Here’s what he had to say about maximizing an event budget:
Read more from BizBash
Attending an event and looking for ways to maximize the experience both online and offline? Building Blocks Social Media created a tweet-sharing program for IMEX America 2012 that resulted in more online exposure for all of the brands involved. Most people are not using Twitter on a daily basis, but they see the value in using it at a large event to see who is there, see what people are talking about and participate in the conversations themselves. Are you leveraging this opportunity in the right way?
Read more from Personal Branding for Gen X and Boomers
IDENTIFY MATCHING SETS - Put sessions or breakouts that require the same type of seating in the same rooms so you don't have to pay for reset costs.
LESS SIGNAGE - Prepare meeting room signs listing all meetings in the room throughout the conference to cut down on the number of signs needed.
TEAR DOWN THOSE COSTS - Often Audio Visual (A/V) companies will charge the same labor fees for tear down as they do for setup. Strike or tear down takes less time, so tear down fees should be about half or three-quarters of what setup charges are.
Choosing the right venue for your event is the first step towards achieving the objective of your occasion. And since most planners are working with a budget, it is important to find the right balance of price, quality and accessibility.
According to CEIR, $24 billion annually is spent on exhibiting, with the second biggest portion of those monies, 17 percent, being spent on show services, including material handling, installation and dismantling, electrical, furnishings, Internet, A/V, etc. Read more from The Tradeshow Network
Everyone in the meetings industry wants to go green, but many think sustainable practices such as a paperless conference are just not doable because of the cost.
Here are 6 innovative and cost-conscious ways to be more earth friendly without driving your budget into the red.
Read More from AVEVENT Solutions
Ten years ago we may have been more comfortable being offline. And I mean being offline as literally as being unplugged from our personal electronic devices.
Read more from Key Events
You’ve found the perfect hotel for your meeting.
It’s a great location. You were able to negotiate a good room rate. The concession package and your meeting space flows well too.
The Contract’s T&Cs Cause You To PauseThe hotel sends you a contract to secure the deal. As you review the 14-page document, you realize that while the business issues are acceptable, the hotel’s terms and conditions (T&Cs) are giving you reason to hesitate.
Read More: Jeff Hurt
Sometimes labor charges are included in the beverage charges, but often they are not. In most cases, the meeting planner will have to pay extra charges for bartenders, bar backs, cocktail servers, cashiers, security, and corkage. These charges are negotiable, depending on the value of the business generated for the caterer.
Read more from Cvent and Patti Shock
Companies around the world are seeking strategies to trim event costs yet still deliver value. It isn't always easy. Inspired by a lively discussion in the Event Planning and Management Group on LinkedIn, I thought I would share my favourite strategies for stretching event budgets. Event and meeting planners can use these strategies for special events, galas, conferences, business meetings, and team building retreats.
This will trim any event or meeting budget significantly. It's my top recommendation but I realize, it's probably the least popular.