Manage an event but lack of budget? Don’t let it happen. Planning an event budget is a crucial stage. Without a proper budget, an event cannot run well. The larger the event, the more complex the budget planning will be.
If you are an event planner, you can look at other event budget sample for reference. However, it’s a different if you manage an annual event. The experience of preparing budgets at previous events can be a valuable lesson.
After you study some, you can try making one. You should start carefully so that there are no mistakes done since any mistake involving funds is fatal. Read the following how to prepare budgets to get a good insight.
- Do a Price Survey. What kind of prices should you survey? You should survey everything starting from event licensing fees, publication permits, entertainment taxes and much more. Each license has its own host.
- Create Budget Categorization. You can use an event budget template to make it easier for you to arrange expense items so you know how much your total expenses are. After that, you can prioritize which posts require the earliest expenses.
- Think About Entry Ticket. There are many things to consider when it comes to tickets. Starting from ticket management to ticket production costs. If your event is free, using event budget excel template as a registration record will be helpful.
Strengthen Your Event Budget Planning by Expanding Your Connections and Marketing
If you have done the three points above but your event budget is still dubious, don’t worry. There are many free marketing solutions. Market your event for free or close to it with these ideas.
You can host a spectacular event with low budget, but you can’t host one without marketing. Marketing is very important to success. Luckily, there are many ways you can get attention for your event without spending a fortune.
Build your brand on social media. Consider adopting a specific niche or segmentation so that people in your industry or demographic check the calendar for your events, and enjoy them.
Get to know bloggers. Make friends with as many bloggers, influencers and special media ambassadors as possible. They will help you find a way out of a stuck event budgeting.
Make friends with journalists. If you create a worthy event, it benefits you to get to know these people too. Don’t forget writers for magazines, travel sites, or whatever suits your type of event.
If this is your second or third event use the feedback you received from last event in the marketing emails you send out. Use phrases like “We’ve heard your suggestions! This year we will have more…”
Always Prepare a Backup Budget Plan Just in Case
“If plan A did not work, the alphabet still has 25 more letters. Stay cool!” It’s important for event planners to plan a backup budget. Sometimes the event budget plan mapped out at the beginning can experience obstacles.
Don’t let this mess up your event! Planning a backup event budget is useful when income doesn’t match expectations, for example failed sponsorships, ticket sales didn’t reach the target, donations are lacking, slow cash payments, and so on.