Event planners and corporate meeting planners are often challenged with hosting an unforgettable event on a budget that is not proportional to expectations for the event.
Today, corporate meeting planners face even more pressure to prove ROI. According to the Event Marketing 2018: Benchmarks & Trend Report, 63% of marketers are increasing both event budget and the number of live events in 2018.
More Focus on Event Results
As corporate companies increase the number of events, the results become more closely monitored. Not only does the meeting planner need to execute more events, but he or she also needs to find creative ways to make each event unique, well-attended, and successful.
One-on-one Work with 150+ Meeting Planners in 2017
After working with more than 150 corporate meeting planners in 2017, we noticed a few tricks of the trade for hosting a cost-effective event.
Our team has been able to take these universal meeting planning tips and apply them directly to Las Vegas events. This formula for success combined with local connections have helped us become superior Las Vegas event planners. Before bringing your group to Las Vegas, read on for Vegas insider secrets from the industry.
5 Ways to Host a Cost-Effective Event
1. Budget Smarter
The best way to stay cost-effective is with a concise event budget. As the experienced event planner knows, event plans change often and impact the budget accordingly. There are several event budget planning tools that can help corporate meeting planners and marketers proactively adjust to changes in cost. Having a detailed, accurate budget not only allows you to adjust the budget if one area goes over, but it also helps to streamline the procurement process to save you time.
2. Outsource Event Registration
People are busier than ever and less likely to commit their time in advance. Having an automated, systematic Las Vegas event registration process is crucial to a cost-effective event. While your guests may be ready to commit to traveling to Las Vegas, have you seen how distracting the city can be once the plane lands? Event registration needs to be organized and reliable with consistent and well-timed reminders. Outsourcing event registration may seem to be an added expense, but this is like insurance for a successful Las Vegas event. With a trusted resource managing your guests, attendance will be more predictable. The catering food & beverage expenses will be more accurate, and you can focus on managing executives and internal objectives.
3. Lean on a Venue Expert
While Las Vegas continues to reinvent itself, new Las Vegas venues and restaurants open constantly. A resource familiar with Las Vegas events and the latest news will help you and your corporate meeting planner team tremendously. The key is working with an experienced Las Vegas event expert to guide the process. A Las Vegas event expert has food & beverage expertise, creative catering ideas, and knowledge of the venue’s strengths and weaknesses to help corporate meeting planners stay cost-effective.
4. Utilize Existing Audio Visual
Have you considered the marketing spend for paper conference brochures, banners, and other printed conference items annually? While we don’t recommend eliminating paper completely, Las Vegas venues offer increasingly advanced audio visual technology. This can help reduce some of your event printing costs, but only if you know where to find cutting-edge conference capabilities. The systematic event registration platform and team previously mentioned can also help with an event app to highly engage attendees while reducing wasteful paper and print costs.
5. Hire a Las Vegas Destination Management Company
Las Vegas event planning becomes much more cost-effective and successful with help from a local team. Even if the corporate meeting planner team has already selected the host hotel, there are hundreds of factors and details to follow.
We at CLI have been able to save our corporate meeting planner clients anywhere from 10 – 30% on their event marketing budget as a result of our 14 years specializing in Las Vegas events. Let our experts help you host a more cost-effective event during your next visit to Las Vegas. Learn more about our Services or Contact Us for a complimentary consulation today!