Event Budgeting

  • Sustainable exhibit design: How one Canadian company is changing exhibits for good

    In a big design and production facility in Brampton Ontario, one exhibit company is revolutionizing how their corporate event clients save money, reduce waste and fight climate change. Meet The Taylor Group. You may not know them, but odds are you know their work, having designed experiences for 30 of the top 50 brands in the world. In fact, Time Magazine recently identified their work for Intel as the Number One most eye-catching booth at CES 2015 (photo below). Now…

  • Six strategies to mitigate outside supplier fees applied to audio visual services

    A growing frustration for meeting planners, when managing their conference budgets, are excessive or undisclosed fees imposed by providers of essential services. Conference facilities are such a provider. Many facilities impose fees in an effort to block outside suppliers from servicing conferences, in turn forcing the use of in-house suppliers. These exclusionary practices and policies are becoming prevalent with audio visual services. Most conference facilities have an official audio visual supplier who pays a commission to them for the services…

  • Six reasons outside supplier fees are a bad idea

    Meeting planners have the complex task of managing conference budgets and the wide array of suppliers that come with it. We do our due diligence to ensure everyone gets their fair share while maintaining a positive bottom line. Unfortunately, some suppliers that are an essential service to hosting a conference, like conference facilities, are taking advantage of their position. One of the ways is through outside supplier fees in the area of audio visual services. Most conference facilities have an…

  • Why meeting and event professionals must have financial literacy

    Some business owners lack key financial knowhow, survey finds I read this article by Lisa Wright in The Toronto Star in January, and I can’t get the facts out of my head. How many businesses in the meetings and events industry are comprised of less than 10 employees? How many are a single person who orchestrates with many suppliers to get the job done? How many people can put up a shingle and say they can plan events, meetings and…

  • Balancing the event budget: Making the most of what you have

    By Mary Beth Holmes As an event planner, the budget is sometimes the toughest part of my job. Amounts are often set and approved well in advance for an event, and sometimes not even all of the plans are in place. Trying to make the event work with the amounts allocated can sometimes be difficult and will take all of your event planning skills. Over the years, I’ve had to learn ways to be creative in order to make the…

  • How a corporate meetings policy can harness your meeting spend and protect your company

    Have you ever wondered why your department manager arranges to have your team meetings in the corner meeting room, you bring your own coffee, and he orders a pizza lunch? While meanwhile down the hall Manager B, takes her team to a five-star hotel, with a hot breakfast, a buffet lunch and ends the meeting with a cocktail at 5 pm. Is it because one department has a bigger budget than the other? Perhaps. Is it because the message will…

  • ROI checklist: Items to consider to ensure a healthy return on investment for your meetings

    We all know meetings don’t just happen. They take planning, company resources’ time and hard earned cash. In order to understand your meeting’s ROI, it is necessary to measure the full extent of the costs required to execute a successful meeting. It all begins with establishing your objectives.  Let’s start with the most basic of questions. Why – What is the purpose of the meeting? What is your message? How do you want your participants to behave and feel at…

  • Thinking of reducing prices on your event services? You might want to think again!

    In the course of marketing strategies, some small businesses may consider reducing prices or offering a discount as a sales incentive. Two critical questions come to mind. Will lowering the price drive enough sales to make up for the loss of income due to the reduction? Will the current operational structure support the increase in volume of sales driven by discounting? When adopting a price incentive strategy, it is important to understand the variables in profitability and how that impacts…

  • Foundation building: Examining the essential elements of event excellence

    What the guests see or experience when they attend a meeting – the tables, chairs, linens, centerpieces, speakers, band, AV, signage, etc. is the end result of months (or sometimes years) of work, as the stakeholders and meeting professionals have thoughtfully laid  a foundation for the meeting to be successful based on the stated objectives. If we begin with the end in mind, we can ask, “What do we want participants to walk away with? What feelings, what actions do…

  • Event budget templating: Six reference lists to build your own budget templates

    The ROI of special events and meetings is often measured by the financial outcomes reviewed at the conclusion of the event. To achieve a positive outcome, it is essential to accurately project costs and monitor the budget assignment throughout the event delivery process. The successful budget forecaster will establish an organised budget reflecting the wide range of cost factors inherent in the creation and delivery of each event element. A template approach to building and implementing a working budget begins…

Venue & Supplier Profiles