Efficiency has always been a big concern for event organisers, and this year it’s been getting bigger. According to Eventbrite’s 2017 Pulse Report, 2017 has seen budgets become tighter and definitions of ‘success’ more strict. Weighed against this is what Meetings & Conventions calls ‘the festivalisation of events’ – a trend towards more people, more entertainment, more energy, more apps – and more expense.
The brands who approach us to run their events are trying to strike a balance. They want to economise, but they also want to put on a show. Simply, they want to do more with less.
Our approach to helping them comes in two parts: focus on the essentials in the planning stage, and cut unnecessary spend elsewhere. Here’s how it works.
There are two things event planners need to have absolutely crystal clear before they start.
Firstly: the goal of the event. Running a great event is our goal, but for you, it has to serve a greater business purpose. Whether it’s to build awareness, win over new clients or secure pre-sales on a new product, the spend has to be directed toward the things that will make that happen.
Secondly: what’s important? Some aspects are must-haves: either the event literally won’t work without them – support staff for instance – or they’re non-negotiable, brand-specific necessities. The latter are vital elements in maintaining your values and reputation in delegates’ eyes.
For instance: laying on private jets for VIP delegates. These are expensive, but for many brands, they’re non-negotiable – VIPs have to be treated like VIPs, or they won’t show.
Disposable branded goods for the flight, though – headrest covers, menus and so on – are a ‘nice to have’. They’re not vital, and if spending cuts are called for, they should be among the first things to go.
So – there are areas where cuts can be made, and there are things we can’t afford to lose. How do we tell if something is a must-have or merely a nice-to-have? There are two answers. Firstly, if you have existing data from previous years’ events, this can provide you with insights on what cost more than it delivered, and what made an impression in the after-event discussion. The other way is to treat the event as a completely blank slate. Assume nothing is essential, take nothing for granted, and build up the bare essentials from there. Every time you add something, ask “what is this meant to achieve” – and if there isn’t a hard and fast answer that directly fits an event goal, you know it’s not needed. For more insight into how Rapiergroup runs the perfect event – on the perfect budget – download our complete guide to event planning success.