Many event planners believe that going big in the budget is the key to managing a large event. On the contrary, you can use a small budget and still have a more impactful event.
Here are a few ideas to get creative with a small budget.
1. Market Your Events to Gain Attendees
FOMO is an abbreviation for "fear of missing out.” The tactic has revolutionized the event industry, boosting online engagement through exclusivity and scarcity. The idea is to provide your target audience with an event that they'll be mean to share with friends. For example, you can use this tactic to:
- Show that more people are buying tickets
- Create a time limit to purchase tickets
- Mention why the event is exclusive
Utilize existing audience
Target your event promotion to people who attended your previous event. Convincing them to turn up to the current occasion will be a lot easier and cost-effective. You can use event management tools to import the list of previous attendees and send customized event promotional messages.
People love getting good deals for unique experiences. Using discounts helps you boost lagging ticket purchases. However, if you're not careful, you risk losing revenue. An excellent way to start offering discounts is to set up discounts for attendees who buy tickets before a specific deadline.
Social media is a potent tool, and using it to promote your event is straightforward and cheaper. Social media is all about being consistent, and the more you post engaging content about your event, the more your brand gets visible.
Partnership with local media
Event media collaboration is a two-way street that involves creating brand exposure for the local media in return for advertising through their platforms.
2. Alternate Ways to Source Speakers
You don't have to break the bank to get talented speakers for your upcoming event. Here's how you can get speakers without using a lot of resources:
Open call for speakers
Several talented speakers have the same ideas but lack the exposure to penetrating the industry. Having an open call for speakers before the event lets you find qualified individuals who can present for free.
Leverage local businesses in the industry
If local businesses are selling complementary products or services, you stand a chance to get great speakers for your event. Although they will be selling their products, the attendees will be happy to see them perform at your event.
3. Seek Quality Venues
All in one Venue packages
If you want to simplify your events without spending too much money on booking different services, an all-inclusive venue is a perfect choice for you. You can find a venue that offers catering, entertainment, and accommodation services, which is way cheaper than booking for the services separately.
Look for venues that match your event goals
If you're planning a company’s team-building event, the best venue to select would be a resort with excellent catering services, accommodation (if necessary), and ample outdoor space to hold various fun activities for the staff. This is cheaper as you don't have to pay for venues with services that don't match your event's purpose, scope, and objectives.
4. Sponsorship Opportunities
Build sponsorship package that's beneficial to both parties
When an organization sponsors your event, it's looking to reach a specific audience or create awareness about its products or services. You need to develop a package that allows the sponsors to reach their audience better. An excellent way to start is using photobooths branded with the sponsor's logo.
Leverage local businesses
You can convince the local businesses that your event offers an opportunity to make their brand visible. You can also reach out to local companies that have sponsored similar events.
Increase vendor engagement to gain more sponsors
In-kind support from your suppliers can go a long way to ensure you run impactful events with a small budget. You can offer to give them exposure, and they will supply products and services at a discounted price.
5. Use the Right Event Technology
Automated registration and check-ins
An automated check-in system allows you to save on time and the human resources you spend printing badges and collecting data from attendees. This way, you can use the savings to pay for other essential services.
All-in-one management solution
Event management can be complicated since it involves planning, organizing, and service delivery. If you want a personalized guest experience and automated processes at a lower price, using an integrated tool may be what you need.
At MeetingPlay, we aim to bring your hybrid or virtual event to life using our all-in-one event management solution. Please get in touch with us now to see how we can help you plan for your upcoming event.