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How To Balance Your Event Budget Like A Pro

July 3, 2017

When it comes to your event budget, it’s important to find a balance between creating fun opportunities for guests and finding ways to save money. Going to either extreme can mean either blowing your budget or being stuck with an event that isn’t living up to its full potential. Here are some of our favorite tips from the event management team at In The Event™ for finding that perfect balance!

Pro Tip: Read more about how hiring an event planner can actually save you money!

Identify Event GoalsIn The Event™ | Event Budget

Knowing where to put your money will always start with a conversation about your event goals. Are you there to simply have a good time? Boost morale? Push a marketing agenda? When you know what attendees need to leave your event with, whether it’s a smile on their face or a potential lead, creating a balanced event budget will always be easier. If you’re looking to have a good time, it’s time to prioritize items like activities and prizes, whereas other events may need investment in a good speaker or training manuals rather than the catering or swag bags.

Stay Grounded

Receiving a budget to plan an event is always an exciting step towards hosting your dream experience. It’s important, however, to not get carried away! Basic costs can add up fast, so start with a solid foundation and proceed with a healthy dose of realistic expectations. Your experience can be great with any size of event budget and making sure you’re being realistic will create a sense of purpose and control around what you do end up having at your event.

Have Big IdeasIn The Event™ | Event Budget

Even though it’s important to be realistic with the funds you have available for your next event, it’s equally important to avoid bolstering your basics without thinking outside of the box. Making cuts where you can in your event budget to accommodate a memorable entertainer or engaging activity will be more valuable to the experience as a whole

There isn’t a perfect formula for your event budget, but keeping these things in mind will help you create an experience your attendees won’t forget! Still worried about finding the right balance? Our event planners have plenty of experience creating events of all sizes on any budget! Click here to see all the ways you can contact one of our certified event planners!

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