Top 5 Money-Saving Tips to Maximise Your Event Venue Budget

Sourcing a venue for an event seems straightforward enough, but how can you make sure you get the best deals and maximise your budget?  Below are 5 top money saving tips to help you get more for your money.

1) Select cheaper days of the week

Typically Tuesday to Thursday are the busiest days for venues so if you are flexible on dates then look at Mondays and Fridays. Availability will be better and venues will be more willing to negotiate on the price on these days.

2) Space-saving layouts will save money

Selecting the right room set up for your event can have a significant impact on the venues available to you and their price as layout determines the size of the room you require. Space saving set ups like theatre style can use up to half the space of a room set up cabaret style.  Your requirements may mean you are fixed to a specific set up, but if you do have flexibility then go for a space saving layout.

3) Be realistic on numbers

Being realistic on the number of people attending your event can save you a lot of money. All too often people book their venue for the highest possible denominator only to have much fewer people on the day. Typical attendance figures are 10% lower than the highest possible turnouts so think about booking your venue for this number. What if more people turn up? Plan this with the venue. Tell them what you are doing and ask what impact more people will have, how they will accommodate them and how much extra you will pay for them. Venues may charge extra costs for additional people on the day but in most cases it will pay dividends.

4) Compare venue proposals

Make sure you get enough venue proposals to make an informed decision. Three proposals is quite often seen as enough but we would always encourage people to get at least five. Comparisons can be more easily drawn from this amount and you can use the information from the unsuccessful proposals during negotiation.

5) Think about more than just discounts

When negotiating, don’t just think about getting money off the fees, but consider what extras the venue can throw in. If a venue will not budge on price, ask them to include things like an upgraded lunch and refreshments, AV equipment and even event management support.

You could also consider using an event management company to run your event – they would already have relationships with venues and a strong stance to negotiate on your behalf.

The Secret Weapons To Winning Event Sponsors

By Billie Moore, Director, McCullough Moore

 

Sponsorship is a two way street, and both parties need to get the most from the opportunities presented to them. It’s so easy to include sponsorship revenue in your event plan, but how easy is it to get companies to sign up???

In this day and age and the current climate, budgets are tighter and companies large and small are cutting back on marketing spend.

McCullough Moore has an experienced sales team who are skilled facilitators. We bring buyers and sellers together in a professional environment and so here are our top 5 secret weapons for gaining sponsorship:

  1. Get the right fit – Identify key sponsors in the event/publication field. Does the sponsor meet your event or publication objectives? Can you offer the sponsor something in return?
  2. What are the benefits? – Put yourself in the sponsors shoes – what do they want to get out of the sponsorship, what are the benefits to their business? Make sure you tailor the sponsor’s package to the individual customer. Be flexible!
  3. Know your facts & figures – Familiarise yourself with all the facts and figures for your event and publication, how many people attend, who will the information be sent to, who are the members etc. Your sponsor will want all the information before making any final decision. Have all the relevant details in a brochure style format to be able to send to potential sponsors quickly and easily. Make this information simple to read and to the point.
  4. Keep your promise and always say thank you– If you make an agreement with a sponsor, don’t go back on your word. Telephone conversations and email should always be clear and concise. Don’t make promises you can’t keep. Always, always, always ensure you thank sponsors and potential sponsors for their time – this is a symbiotic relationship and you need to work together to create benefits for you both.
  5. Give yourself plenty of time – set up your marketing and sponsorship plan 6-12 months before you want to go live. This allows you plenty of time to work out all of the above and start promoting your sponsorship packages. It also means you can offer the sponsor more publicity with pre-event/publications mailers, PR and marketing opportunities as well as getting their logo included in all your promotional material.

McCullough Moore can help with your next project……click here to book a free event consultation with us or here to give us a call!