Congratulations! After months of planning and running the numbers, you’ve (finally) got the go-ahead from the powers that be and your event budget is signed off. Now to sit back and re…wait a minute: before you entrust your event budget into the hands of an events company, you might want to consider the following:
- Ignoring deadlines is a costly business
While the word itself can send even the most experienced event manager into a panic, deadlines drive your event. And the reality is, if your team delays, you’ll have to pay. Extending deadline has a knock-on effect, affecting all parties involved in orchestrating your event. This time-crunch means that they have to work overtime, a costly business that quickly adds up.
- Avoid excessive reverts
We all want our events to be perfect. That said, tweaking and re-tweaking content adds up. Your event team are working on a tight timeline, and if you keep sending them different iterations of event content – like an intro video or info pack – they have to implement these changes, often working overtime. As the scope of their project management increases, so will your budget. No one works for free, so keep reverts to a minimum in order to avoid paying an additional fee.
- A contingency for last minute changes is essential
All events require changes at the 12th hour. Unfortunately, clients don’t realise that this requires extra time and effort, which of course, results in an additional project management fee. Setting a contingency budget aside from the beginning mitigates against receiving an extra line item once the event has concluded, and also gives your event management a clear idea of how many last minute requests they’re able to fulfil.
- Breakages add up – quickly
We’re all for having a good time, but when your guests throw caution – and their glasses (literally) – to the wind, you end up footing the bill due to breakages. And these seemingly small costs add up incredibly quickly. Avoid a surprise fee and factor this into your event budget from the get-go. And if your guests are more well-behaved than anticipated, you’ll end up with extra money in your pocket!
- Don’t let your guests drink you into debt
We’ve all been there: it’s 12 am and your event is in full swing, but the bar tab is already depleted. No problem! Just add another 2k. At 2 am, one of your staff okays another 5k. Stop right there. Event budgets can easily run over an additional 50k from the topping up of bar tabs. Remember that your event managers are acting in good faith, and if they get the go-ahead from one of your staff, they’ll comply and increase the tab. Avoid this costly affair by having a bar tab that’s set in stone, and ensuring that those who have the permission to extend it are at the event at all times. This mitigates against both an overrun and a case of “he said, she said”.
By taking the above considerations into account, you’ll not only avoid a surprise bill at the end of your event, but help your event management team to run your event in a way that’s seamless and budget-friendly. Contact us to find out how we can assist you with exceptional event management services.
