Month: February 2023

Planning and executing a successful event can be challenging, regardless of whether you are working with more limited resources. Let’s consider 5 tips to help you make the most of your corporate event budget, whatever its size. 

Corporate event budget tips

1. Set clear objectives.

Before you start planning your event, it’s crucial to set strategic goals and think through what you want to achieve. Why are you gathering this group? Consider the event’s tone and what types of activities will help set the atmosphere. If your team has faced budgetary setbacks, consider attendees’ perspectives going into an event. It could be beneficial to acknowledge company challenges while encouraging everyone to celebrate their accomplishments. 

Ultimately, a corporate event creates an environment where attendees can engage in meaningful conversations. Tailor each event to meet your organization’s needs, including what attendees may need. Consider what discussions you want your attendees to have, set your goals, and build an event strategy from there. 

2. Prioritize the essentials to maximize your corporate event budget.

With a strategy in mind, you can develop an event to meet your goals, all while prioritizing what’s most important. Put yourself in the place of the attendees to understand what they need. Do you want to provide them with snacks or full-course meals? Certainly, you don’t want your attendees to leave hungry, but consider where your investment will be most valuable for them when developing your catering budget. 

Would music set the atmosphere? Or a post-awards dance party? The difference is in the details. It costs nothing to be thoughtful. If your company is hosting challenging discussions this year, you might consider offering breakout sessions, allowing attendees to process the information they’re getting from event speakers. Give them time to have offline conversations to gain valuable insights from one another. Taking this approach can help build team morale and give your attendees a positive and hopeful post-event feeling.

3. Reconsider your venue.

Venue selection is a major factor in the success of your event, but choosing an exciting location doesn’t have to mean breaking your budget on tickets to Hawaii. Instead of an expensive team getaway, consider hosting an event in a local museum, art gallery, or brewery. A local garden party could mean more to your attendees than a banquet room hours from home. There are so many unique venue options between a costly five-star resort and the no-cost office breakroom. Get creative! 

Another option is to find an in-budget price by booking your venue during an off-peak season or daytime hours. Give yourself time for this strategy. By leaving some wiggle room in your schedule, you’ll be able to take advantage of discounts and avoid last-minute costs.

4. Use available technology. 

If your corporate event budget doesn’t allow a particular guest speaker to attend in person this year, there’s an app for that. Virtual meeting rooms can enhance your event without draining event funds. Technology options go far beyond Zoom. You might consider incorporating virtual reality, social media, and live streaming to add an extra layer of excitement to your event. 

Technology gives us opportunities to liven up events and make them more engaging for attendees. If you’ve opted not to hire a band for the sales meeting this year, you can still rent a disco ball and a great sound system. Or, better yet, why not ask everyone on the team what their favorite artists are and make a Spotify playlist from their selections? 

There are free or inexpensive applications available for marketing and promoting your events. Eventbrite is a free option to register attendees and measure engagement. Other options include Eventzilla, Whova, and Splash, which offer comprehensive solutions for corporate event success.

Recommended Reading: 5 Tips for Finding an Awesome Virtual Event Speaker

5. Honesty is the best policy.

Messaging should always be a key part of corporate event budget and strategy, especially when a message may be more difficult for attendees to process. It sends an unsettling message when a company hosts an annual sales event and visibly reduces the budget for one of the events. Perhaps even more disconcerting is when a company announces layoffs and hosts a high-budget celebratory concert in the same year. 

Before you plan an event, think about the messaging for your attendees, and be as clear as you can in communicating that message. There’s no shame in hosting a team-building event locally for the first time in ten years, but it may help attendees to hear their CEO explain why there was a change. A tightened corporate event budget doesn’t mean letting go of the fun! But in our experience, honesty is the best policy.

The corporate event budget must go on!

Corporate events should be entertaining and—no matter how big or small your corporate event budget is. Corporate events will always be a great way to build relationships and showcase your company’s values. Get creative and think ahead. With careful planning and precise execution, an event can be a valuable investment in team building and driving business growth. 

To strategize your next corporate event budget, talk to us.

As corporate event managers, we know how important corporate events are for developing meaningful employee and customer relationships. Choosing the perfect event can be challenging. Whether planning a conference, trade show, product launch, or team-building event, you want to ensure the experience is memorable and effective for all. When you take a moment to consider all aspects—your audience, goals, and resources—you can create the perfect event.

Experienced, savvy event planners share five tips for planning an unforgettable event for any budget.

• Pro tip: your event strategy always comes before you source a venue or start any planning.

5 secrets from corporate event managers

1. Know your audience. 

When deciding what your new event will be, corporate event managers first assess who the attendees are — especially if it’s an external event. When you know your target audience, it’s much easier to imagine an event idea that will resonate and create a lasting impression. 

Demographics, such as the average age and occupation of your attendees, are essential but also consider your audience’s feelings. You must meet attendees where they are emotionally on the day of your event. Consider how they will feel when they arrive after a long flight. Think about how you want them to feel once the event is over.  

Once you understand your audience, you can develop an event strategy around the audience’s needs. If you don’t know your audience, consider creating a pre-event survey to get to know them better. You can ask prospective attendees what they’re looking for in an event, but you can also ask them broader questions to get a sense of how they feel about your brand, career, and relationship with your company. Find out their frame of mind and what they need to get out of this experience. One way to do this effectively is by sending a pre-event survey.

2. Strategize event themes. 

Once you understand your target audience, you can consider event themes like venue, location, activities, and entertainment.

For example, with a strategy in hand, the objectives for your event will determine whether an audience may benefit more from a relaxed, networking-style event or a high-energy, team-building activity. Does a team-building theme need an open bar or a group training session? It may be both, but not in that order. The theme helps to inform a more cohesive and memorable event. Consider the activities you might want to include in your next event, and develop those activities around your event’s theme.

Recommended Reading: Corporate Event Strategy: The Secret Behind A Successful Corporate Event—and How to Get It Right, Every Time

3. Timing is everything. 

The timing of an event will affect the overall flow, and choosing the timing for your event is an excellent opportunity to get creative with strategy. Should a sales event be during a busy time of year, such as the holidays? Or would sales representatives benefit from hosting an event ahead of the holidays? Advanced planning gives you more venue options and potential early-bird booking discounts.

Timing also allows you to plan around conflicts with other events, industry conferences, and weather. The impact on your attendees’ experience depends on timing, especially when the climate is a factor for the venue’s location. If you want your attendees to accept awards in a garden, you’ll need to plan far ahead for a sunny season—or be prepared to buy plane tickets somewhere warm.

4. Resources guide logistics. 

Knowledgeable corporate event managers understand their resources, especially when it comes to the budget. Your event strategy and budget will help you choose an event that fits your financial parameters while providing a memorable experience. 

With a budget in mind, you can select locations based on the climate, time of year, and audience needs. You can also begin hiring vendors and assess entertainment options to meet your attendees’ expectations. 

Corporate event managers looking to make more of a budget prioritize essentials and, above all–plan ahead. For our budget tips, check out our post 5 Tips to Make the Most of Your Corporate Event Budget.

5. Prioritize high-value partnerships. 

Event partners reflect a company’s capabilities, so you’ll want to research and select vendors who align with your values and experience. These partnerships will guide your choices for your event. That’s why we always recommend reading reviews and requesting customer testimonials before booking a vendor. Look for knowledgeable vendors who can provide the services you need. Trusted partners who come highly recommended can offer creative solutions that will leave your attendees in awe. Events are most successful when you choose team members, especially corporate event managers, who can collaborate and strategize an event’s production from start to finish.

Heroic’s corporate event managers can help

The strategic collaboration is where Heroic comes in. We’ve been in the business for a long time and know how to adapt to changes. We’re a one-stop shop for producing dynamic and effective events. We leverage years of event management experience to produce experiences that engage your audiences and create measurable impact. Please reach out to connect with our corporate event managers.