6 Event Planning Tips for Businesses on a Budget
We all tend to think that all successful events cost a good amount of money or that you can’t organize a good event without financial backing. This is the point where we tell you that you are mistaken. Hosting a great event that achieves your business goals can be done on a bare minimum budget.
Here at Ticketpass, our job is to help provide you with the essential tips to planning a business event that doesn’t leave you in debt or wondering where all your money went.
1) Set Clear and Measurable Goals
The first important thing to do is set clear goals and objectives. Its so easy to get caught up in the event idea that you forget to determine your SMART goals. This is the biggest contributor to financial and time waste which can only be avoided by defining your goals.
A clear example of setting clear goals includes:
- Sell 500 tickets
- Book 5 artists to perform
- Start promotion a month in advance
- Sell tickets in 15 days
- Spend less than £500
- Organize the whole event in two months
2) Hone In Your Audience
Planning an event that your target audience will love is hard but once you are able to understand them, this becomes a walk in the park. An event that brings no value to your audience can be considered as unsuccessful.
You can consider the following points when analysing your target audience:
- their interests
- suitability of location and time
- price suitability
Once you have understood your audience 100%, you can tailor all marketing efforts and event planning towards them; in a manner that will attract them.
3) Budget at the Beginning
From the start of your event concept, you should already have an idea of how much you want to spend on the event in total. Outlining the budget from the beginning is key because it enables you to spend controllably with a set maximum cost in mind. This is also the point where you establish what type of event exactly you want to organize; a networking event, team building, acquisition of new clients. Determining this will help decide the maximum spend.
4) Use Free Event Management Software
Using event management software makes the event planning process much easier. But the key thing to note is the availability of free softwares. Don’t spend money buying softwares as that money can be fueled into the event planning instead. A lot of free softwares include ticketing, custom branding, event schedules, data management and registration forms. Ensure that the social media marketing is not just a pre event agenda but is also used during the event and after the event.
5) Implement an Social Media Strategy
Social media is a free and powerful platform that you can easily use to promote your event. Forget about traditional media as this will cost you tons. Create a event on Facebook, start a page on Instagram, tweet about the event. Whatever platform you use, ensure it is effective to reach your target audience. Using more than one platform is a smart way to increase your reach and engagement.
6) Find Event Sponsors
This is the perfect way to spend money because it puts the financial burden on someone else especially if you are on a tight budget. determine what businesses would be appropriate sponsors considering your event idea and theme as well as the target audience. You also will need to consider a company that won’t conflict with your type of organization.