Throwing a party or putting an event together is a great way to accomplish a number of goals for your company. Whether it’s establishing yourself in a community, promoting awareness of your services, or simply giving back to your employees, an event can be a big hit.
And yet, the budget for such an event can quickly spiral out of your own control. It can be hard to know how to organize an event without spending big money. Some costs seem to lead to others, and before you know it, you have a major expense on your hands. Is it worth what you're getting out of it to begin with?
If you can keep your event budget low, you won’t even have to ask yourself this question. Read on, and we’ll walk you through how to pull off your event frugally with a few simple tips.
Set Yourself Up For Success
Organization is the key to a successful event on any budget level. But proper planning is especially key when it comes to pulling something off on a conservative level.
Failure to properly prepare yourself for an event will only cause costs to escalate further down the line. Organization will be your best friend when it comes to coming in under budget. So what should you plan ahead for?
First and foremost, make sure you understand what you want to get out of your event.
Yes, you want to produce more awareness, but can you be more specific than that? Attempt to turn your goals into something quantifiable. Determine if a number of email list sign-ups is a good barometer, for example, or choose whatever is appropriate for your personal goal.
Take the time to research other events similar to your own. Look into what made these events successes or failures, and see what angles businesses might have taken to cut costs.
Cut Corners On Location
"Location, location, location", as the saying goes. A great spot can be key to a great event. And while the location is not something you want to skimp out on, being smart about how you approach the venue for your event can save you a ton of money.
The first thing you should consider: can you host the whole event out of your business itself? If your workplace can be convincingly rearranged or set up to host an event, it can save you a large sum of money. Even if your main area won’t work, consider what other areas you have access to on your own that might work.
If you do have to look elsewhere for a venue, adjust your expectations accordingly. Look for the smallest space that will still fit your party and not leave things feeling cramped. Smaller spaces likely have fewer employees on the payroll. Those savings will then get passed onto you when it comes to your final bill.
Get The Word Out There
There’s no point in hosting your event if you people don’t know that it’s happening. That means you need to put a little work in to make sure the word is out there. Doing this work on a budget can be difficult, but definitely not impossible.
The key to getting this done cheaply is to utilize the power of social media. The benefits of these online platforms are numerous. They are free to use, easy to access, and almost everyone is on them. That means your outreach can be huge while your costs remain next to none.
Publicize your event on platforms like Facebook and Instagram and then have your family, friends, and employees help spread the word by sharing your posts on their personal accounts.
In order to get the best response, design a few graphically interesting visuals and a succinct but exciting description of the event. Make sure your target audience can understand what your event is and why it appeals to them within a few seconds of reading. After all, that might be all the time you get with them!
You will also want to ensure you make the process of attending as easy as possible. The last thing you want is to lose potential attendees because they couldn’t figure out the details. Make sure the time, date, and location of your event are prominently highlighted.
If you are selling tickets, make them easy to access and purchase. Using a resource like PayPal tickets can make a huge difference when it comes to ensuring people follow through on their initial interest.
Supplies For Your Event
With the location chosen and the word out, you will need to start figuring out what to fill your space with. When it comes to suppliers, the best bet you will have is price comparison.
Make sure to call multiple vendors and find the best price available for the decorations and utilities you need. Also, remember that prices are not set in stone. A vendor might be willing to negotiate down on a product rather than lose your business altogether.
Rustic and minimalistic design is very in-style right now for company venues. Luckily, that means you might not need to purchase as much to make your event feel in-style and cool.
How To Organize An Event Frugally
There aren’t many things more rewarding than pulling off a great event. You can feel even better if you can pull off such an event without putting pressure on your wallet. The above tips can be key in deciding how to organize an event on a budget.
Need more advice on making your business a big success? Check out the rest of our blog for more business event planning tips.
