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How Much Is a Corporate Meeting? – How to Budget Meetings and Events (2 of 2)

How to Create a Budget for a Corporate Event/Meeting – PART 2

Next, look into booking travel and hotel accommodations for your staff, keynote speakers, and other VIP personnel.

For the best pricing, ask about room blockings and group rates. Hotels will offer deals depending on what time of year the event is held, organization, or potential for repeat business.

Always read the cancellation policy before signing an agreement, there can be hidden fees if not negotiated correctly.

Time to think about marketing materials.

Plan and produce all pre-conference, conference and post-conference communication materials, such as emails, presentation materials, theme graphic, brochures, agenda/programs, registration packages, signage, post-conference survey, etc. and put them in the budget.

Additionally, put together a cohesive digital marketing campaign and start promoting the event through various platforms, social media, intranet, internet, emails, etc.

Now everyone’s favorite topic to discuss: food!

This is where it’s important to remember your audience. Normally, conference receptions will serve buffet-style courses, allowing attendees to mix and mingle around the space. However, if you want a more formal feel, choosing to serve plated courses at your reception might be an option. When you speak with a catering director, tell them your needs and goals for the event. They should be able to suggest and steer you in the correct direction. And before deciding, don’t forget to taste the food. That’s the best part!

Contingency.

Set aside 10% of the total budget for contingency. There will always be unexpected expenses and enhancements even when you were so prepared and careful about the budget.

Once logistic details are in place, the day before the conference becomes the time to review, review, and review.

Have a team meeting and go over all the arrangements before the conference kicks off. Make sure the staff, crew, volunteers, coordinators and suppliers all have a final briefing and their detailed responsibilities are distributed.

On the day of conference, complete your final walk-through of the space. There is always something very special about live events. Remember this is the time where the event should fall into place, be happy, excited and enjoy!

 

 

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