6 Ways to Save Money When Hosting An Event
The costs of hosting an event can add up quickly. From choosing a venue to finding decor and securing advertising, it can become a challenge to stay within your budget. We’ve got some helpful tips that will help you pinch your pennies for your next event.
Quick Summary
To ensure a budget-friendly event, selecting the right venue is crucial, as costs can fluctuate significantly with location and service requirements. Consider catering options that are local and cost-effective rather than opting for pricier franchises. Enlisting volunteers can streamline operations without the need for extra staffing. Additionally, prioritize digital marketing over printing to reduce expenses, partner with local organizations for promotional support, and explore in-kind sponsors
Be Selective With Your Venue
Venues can vary in cost depending on location, services offered and a multitude of other factors. For example, a venue downtown will probably cost more than a venue just outside downtown. Take this into account when choosing. Some venues require you use their food and when this happens can add thousands of dollars to your bill. Which leads us to the next point.
Catering
There are so many options when choosing a caterer. If your venue allows it, catering can be the best option to save some coins. Find local businesses that are willing to cut a deal or that are not as expensive as large chains.
Recruit volunteers
No doubt you will need people to help you run the event smoothly. If you don’t have a large staff already lined up, it could be helpful to ask friends and family to assist in your endeavors. Assign each person a specific task and your event will run more smoothly as a result.
Cut Down on Printing
The age of printing is dying. With digital marketing, you’ll be able to reach more people in less time. So make a conscious effort to invest in your digital efforts because they will be the bread and butter for your next event. This doesn’t mean that you shouldn’t print anything but printing is very expensive so you should think about cutting back.
Get Involved With Local Organizations and Schools
There’s no better way to save money and help your community than by partnering with a local university or organization. You’ll need advertising for your event which get costly. You may have luck asking a local college or organization like the YMCA to help you promote the event. Most likely they will have a program for this like this. They may include your event in a calendar of events or have an option for you to promote your event on campus.
In-Kind Sponsorships
These types of sponsorships can come in handy when trying to cut back on costs. You may be able to work out a deal with sponsors for them to provide a service for free or at a discounted rate in exchange for exposure at your event. Creating a mutually beneficial relationship can be a great way to get more bang for your buck.
Saving money on your next event is possible. All you have to do is get a little creative and think outside the box!
Written by Kendra Blalock
Kendra Blalock is a content writer at AMW®, covering topics in marketing, entertainment, and brand strategy.
Frequently Asked Questions
How can I save money on venue costs when hosting an event?
To save money on venue costs, consider locations outside downtown areas which typically charge less than prime city center locations. Avoid venues that require you to use their exclusive catering services, as this can add thousands to your budget. Compare venues based on location, included services, and hidden fees. Look for venues that allow outside catering and don't charge excessive setup fees to maximize your event budget savings.
What are the best ways to cut catering costs for events?
The most effective way to reduce catering costs is choosing venues that allow outside caterers. Partner with local restaurants or small catering businesses instead of large chains, as they're often willing to negotiate better rates. Consider buffet-style service over plated meals, limit menu options, and ask about package deals. Local businesses are typically more flexible with pricing and may offer discounts for community events or repeat customers.
How much money can I save by using volunteers instead of paid staff?
Using volunteers can save hundreds to thousands of dollars depending on your event size and duration. Professional event staff typically costs $15-25 per hour per person. For a 6-hour event with 5 staff members, you could save $450-750. Recruit friends, family, or community volunteers and assign specific tasks like registration, setup, or guest assistance. This strategy works best for smaller community events or non-profit fundraisers where people are willing to donate their time.
Why should I choose digital marketing over printing for event promotion?
Digital marketing is more cost-effective and reaches larger audiences than traditional printing. Printing costs for flyers, posters, and brochures can quickly add up to hundreds of dollars, while social media promotion and email marketing are often free or low-cost. Digital marketing also allows real-time updates, better tracking of engagement, and the ability to target specific demographics. You can reach more potential attendees faster while spending significantly less on promotional materials.
What are in-kind sponsorships and how do they help save event costs?
In-kind sponsorships involve businesses providing goods or services instead of cash in exchange for event exposure and marketing benefits. For example, a restaurant might provide free catering in exchange for promotional signage and social media mentions. This creates mutually beneficial relationships where sponsors get advertising value while you receive discounted or free services. Common in-kind sponsorships include venue space, catering, photography, entertainment, or promotional materials, potentially saving thousands in event costs.
How can local organizations and schools help reduce event hosting expenses?
Local organizations and schools can significantly reduce your marketing and venue costs. Many colleges, community centers, and organizations like the YMCA offer free or low-cost event promotion through their calendars, newsletters, and social media channels. Some institutions provide discounted venue rentals for community events. Universities often have student volunteer programs, and local organizations may cross-promote your event to their members, expanding your reach without additional advertising expenses.
When is the best time to start planning to save money on event hosting?
Start planning 3-6 months in advance to maximize savings opportunities. Early planning allows you to secure better venue rates, find discounted catering options, recruit volunteers, and establish in-kind sponsorship partnerships. Many vendors offer early booking discounts, and you'll have more time to compare prices and negotiate deals. Last-minute planning often results in premium pricing and limited vendor availability, forcing you to accept higher costs and fewer money-saving alternatives.
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