Top tips to make your events budget stretch

• Flexibility on dates: Many venues run special offers on Mondays and Fridays.
• Consider running events on weeks with Bank holidays or during the school holidays.
• Avoid peak months and days.
• Understand that an event run from midday – midday will often attract extra charges as the meeting room will effectively be booked out for two days.
• Understand how venues operate within Yield Management. Contracted numbers close to the maximum occupancy of a room will help reduce the ‘per person’ package price.
• Book either well in advance or as late as possible. Both will give you extra negotiating power.
• If you have several events to book, try and book them at the same venue. This loyalty should help you to negotiate better rates.
• Considerable savings can be made by condensing event programmes into one day, avoiding the need to pay for accommodation.
• Look at the venue’s pricing structure and break packages down so you are only paying for the elements you actually need. Rate reductions may be available!
• Added value and free extras: Negotiate with the venue to get as many items such as car parking, syndicate room hire, AV equipment thrown in as possible. Identify which items have a low cost to the venue and a high value to you.
• Investigate the possibility of delegates travelling together.
• Consider sponsorship for items such as pre-dinner drinks or wine with dinner.
• If appropriate, run a small exhibition at your event, with a selection of relevant exhibitors paying for attendance.