You're passionate about innovative event design. How do you handle stakeholders who prioritize cost savings?

It isn’t difficult to empathise with cost saving. Money is a resource that most of us lack. Creative sharing/discussion around the reasons for an event may help. Cost is a key driver. As costs increase the opportunity to generate profit or, at worst, break even, reduce in proportion. The cost benefit analysis (cba) will help determine whether other, non monetary, benefits support an event as a loss leader. However, relatively few events can be justified in this way. Some costs may be stripped out of the equation- is the experience of organising or participating adding to the skills of those involved? The CPD value of involvement may improve the plus side of the cba. Enhancing the knowledge/opportunities of audiences/participants likewise.

Knowing budget parameters at the start makes sure that everyone is on the same page. If you really feel that something exceptional will enhance the experience so much as to incur additional costs, deal with it like every other budget item - try to find additional income streams to offset the event, negotiate the best deals from qualified vendors, do the research and cull the data that would show a positive ROI in a defined and short period of time and then sell it!

It's crucial to have a budget that all stakeholders are committed to. However, during event planning, changes are inevitable. Some services may become more expensive, unexpected costs can arise (which should be accounted for in a category like "unforeseen costs"), and revenue may not meet projections. As an Event Manager, you need to manage these fluctuations while still creating unforgettable moments. This requires agile project management and creative problem-solving to adapt to budget changes without compromising the quality of the event.

Balancing innovative event design with stakeholders' cost-saving priorities involves understanding their objectives, maintaining transparent communication, and engaging them in the planning process. By setting clear goals and creating a detailed budget, resources can be allocated efficiently. Leveraging technology and sustainable practices can reduce costs, while negotiating with vendors and exploring partnerships can provide financial support. Regular feedback and post-event analysis help refine strategies, ensuring both creativity and fiscal responsibility are achieved.

Not everything has to cost a lot of money. Being creative, working with the right event partners, working with sponsors and proper budgeting are all easy ways to get what you want out of your event without breaking the bank! Your partners and sponsors want your event to be amazing just as much as you do so work with them, create great options, understand the reasons for your “want/need list” and filter from there! This isn’t rocket science! It’s relationship building!

I have always thought that you can spend a bit more if it adds a big enough "WOW" factor - something that people would be talking about for years to come. At a conference of around 500 people one of my team members came up with the "golden ticket" idea - a piece of gold colored card stock was placed among the white badge stock in each of the 5 printers we were using. It was completely random whose badge would print out on that gold paper. And when it did registration halted, staff threw confetti, rang bells and blew horns and ceremoniously awarded the person whose badge it was a $100 AMEX gift card! Boy they talked about that for a long time - well worth $500 and 5 pieces of gold card stock!

One of the main components of being a good event manager is the ability to solve problems quickly and provide multiple solutions for decision making. This is the part of the job that excites me the most as there hasn’t been a challenge too big or too small that I haven’t been able to provide a solution to, to the satisfaction of the client. Some costs may be inevitable but innovative ideas should be a mainstay. Clear and concise Communication then allows you to get over the hurdle of the cost factor. Not withstanding the benefit of innovation however sometimes a rational, logical, simple approach could be better as well.

Finding ingenious ways to create win-win scenarios can solve any number of problems. The novelty of a new, untried or unexpected location might encourage attendance while costing significantly less than conventional venues (ideally free- on the basis that you’re ‘road testing’ a new space for its owner’s future benefit). You win, audience wins, owner wins and all it has cost you is the time and travel to scope out alternatives, until somewhere that fits the brief presents itself. All this might sound far fetched- but it’s based on experience and when it works out everybody is happy.

Way back when- Glasgow was bidding to become U.K. City of Architecture and Design 1999. Liverpool and Edinburgh, the competition, would, in all likelihood, offer venues and content of some sophistication, Glasgow went counter-intuitive. Productions were well designed, but basic, exhibition panels sat on artist’s easels (trade secret- we actually only had one set of easels which travelled to each venue to receive their next exhibition or set of explanatory Kappa Boards, sometimes only minutes ahead of the judging panel’s arrival). The venues were the icing on the winning cake- raw, partially decorated, works in progress. Glasgow’s win seemed against the odds- our bid, after all, was the cheapest by miles. Truly it’s the thoughts that count!

It's crucial to have a budget that all stakeholders are committed to. Costs for certain services may rise, unforeseen expenses may arise (which should be included in a "contingency" category), and revenue might not meet projections. This requires ongoing budget monitoring to ensure timely adjustments and maintain the success of the event despite any budgetary changes.

Extravagant waste of resources- financial or material, is bad for the planet as well as your budget. However cost consciousness and perceived quality is a difficult balance. For customers/participants/audiences to buy-in the offering has to appeal visually and provide beneficial content. It’s easy to be spartan, neat, powerfully communicative and cheap. A pop-up banner show needs more design skill than more predictable and more familiar methods. Get the content to fizz and buzz and viewers will forgive the innovative and cheap display solution. And transport (boot of a Mini) and erection couldn’t be easier. Just one example of how to make it easy, cost effective and a bit of fun. Keeps insurance costs minimal too!