HOW TO KEEP COSTS DOWN AND HOW TO REDUCE COSTS WHEN PLANNING AN EVENT?

Want to save money time and money when organizing events for your clients?  Would you like to guarantee the impact of the event, keynote speakers and the program? Do you want to save costs but still maintain a strong reputation through planning and delivering a successful event?

Keeping the costs down can be challenging, as planning an event has so many contributing factors with unique requirements that all cost money. Many organizations seek out different ways and partners that can assist in ensuring each investment to plan and deliver the event will be high quality but at the same time keep costs to a minimum when possible. Speakers Bureau of Canada offers some strategic ways and ideas to explore different ways to research, partner, plan and deliver the event with great success while saving some money at the same time.

FINDING A GOOD VENUE

When planning an in-person event, it is important to shop around for venues at different locations. You may want to look into hotels, conference centres, theatres and buildings that are designed to hold a lot of people with a community centre, gym, ballroom or board room depending on the number of attendees. If possible, hosting the event at your office or one of the business locations will be a free venue, so this should be explored as the first option.

To save costs you can use the same location or hotel chain year after year. If it is a venue that may have interest in supporting the attendees and the organization, you can also request a discounted rate in case they are interested in sponsoring the event. You can also find strategic partners to assist you to lock down and secure a venue or hotel, especially if delegates are travelling to the event and require hotel rooms or an overnight stay.

Good venues for conferences have proper seating capabilities, chairs, tables, stages, A/V equipment, and different room options for keynotes, breakouts and award ceremonies. They will also usually provide drapery, pin-up boards, culinary equipment, dish sets and a usable kitchen for catering services. Great venues will have onsite representatives and staff to support you in the setup, delivery and takedown of the event. They will also have programs or design instructions with different options that will help you strategically design each room for each session in the program, and how the attendees will be able to view the keynote speakers or workshop speakers in each session.

HOW TO SAVE COSTS ON VIRTUAL EVENTS?

There are also some ways to keep costs to a minimum for virtual events and online meetings. Getting to know the platform that works best for your organization is an important part of understanding the costs involved for a virtual event or online meeting. Do you require a monthly ZOOM subscription for a one-time event? Does your organization already use MS TEAMS platform and you can utilize their event portal at no cost? No matter what software platform you use, your software must support the number of attendees which will determine the investment level that will be sufficient to support the online attendees.

Many organizations are also assigning a team lead or virtual event organizer specifically responsible to find speakers, explore the different software platforms, work with IT and/or find a production company and marketing the event to attendees. Having an internal representative to manage the logistics, research and delivery of the event will continue to build their skillsets and abilities so that they may be able to deliver the event themselves at some point. At the minimum, they will be able to determine unique ways to create more value, keep costs down and find the right partners to find speakers and produce the event at a lower cost.

ROLL OVER BUDGETS FROM OTHER EVENTS OR USE DIFFERENT BUDGETS

As organizations try to maximize the learning of their employees, it can be common to assign budgets to different departments to hold monthly events of quarterly events. At times, the budgets for these events are often limited and they can force the organizer to hire a low-cost speaker that is not effective or get an internal speaker which may limit the ability to influence the audience. Lunch and learns are a great example as we see many organizations invest a small amount per month for the speaker and the event only influences a small number of attendees.

By saving 6 months worth of funding, you can find an amazing motivational keynote speaker or virtual speaker for the same group or a larger audience. Finding the right speaker for each event is very important and maximizing your investment by applying funding from different budgets is a great way to increase you budget and cut down on costs at the same time. There is also learning and development budgets which can often not be known to be available to access when planning the event. Many organizations can also apply the companies left over travel budgets or left-over funds from previous events for to the speakers travel expenses or securing a venue which will increase the budget for the speaker to access a high-quality expert or the proper venue.

RAISING FUNDS AND FUNDRAISING FOR THE EVENT

Need to raise some funds from sponsors or attendees? Opening the event up to the public or finding strategic partnerships to provide funding can help bring more attention to the event and bring in attendees interested in hearing from the speaker or supporting your cause. Raffles and prize draws, selling tickets to the event, creating a membership fee for the organization, selling per plate dinners at gala’s or holding an networking meetings that cost a small amount with an low cost speaker or the president speaking will allow you to continue to raise funds which can be applied to the annual conference budget. Holding multiple virtual events or in person meetings over the year will bring more engagement to your membership and all stakeholders.

HOW TO MAXIMIMIZE YOUR INVESTMENT, GET MORE VALUE & SAVE COSTS WHEN WORKING WITH A MOTIVATIONAL SPEAKER

Any motivational keynote speaker or virtual speaker that is worth his/her salt also offers a corollary breakout session or workshop. Take advantage of this. You’re already paid for her/his travel and accommodation expenses; your speaker is there at your event, for little or nothing more we you can ask a speaker to:

  • Have a speaker present more than one session such as a keynote + workshop or a second practical workshop on a different topic on the same day.
  • Book the speaker for multiple events and access discounted fees for multiple bookings
  • Give the speaker some leads or find other bookings for them on their behalf
  • Ask your speaker to moderate a break-out session.
  • Offer the speaker to facilitate round table discussion with key staff, management, or board members on a pertinent topic while they are there.
  • Prepare and deliver to your delegates an interactive follow-up webinar after the event.
  • Request that the speaker attend meals and networking sessions with the attendees or leadership team
  • Book more than one speaker through a speakers bureau for the same event and we can usually negotiate the fees with each speaker since we are filling the program
  • Allow the speakers to market their books or training after the presentation
  • Offer the speaker the list of delegates or attendees

WORK WITH A CANADIAN MOTIVAITONAL SPEAKERS BUREAU TO FIND AND BOOK THE SPEAKERS & TO ACCESS OUR LARGE NETWORK OF EVENT PROFESSIONALS IN CANADA

Speakers Bureau of Canada will be able to reduce the cost of your event. Sponsorship and early planning will allow you to explore your different budget options and resources for your event. If you book more than one speaker for any event, we can offer you a further discount by lowering our commission for the engagement. You can also book a speaker for multiple presentations on the same day or for multiple events occurring throughout the year to lower their speaker fees.

Speakers Bureau of Canada also has many strategic partners that we work with that we can put you in touch with regarding venues, catering, and production. We are well networked with event professionals of all types, travel agents, production companies, virtual event producers, meeting planners, venues, catering services and speakers and can find you the perfect match to help you save costs and find a strategic partner that will help you plan and deliver the event.