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6 Ways to Stretch your Meeting Budget

Meeting planners could be called miracle workers as well. Tight budgets and great expectations seem to go hand in hand with every meeting. So every meeting planner needs the expense-reducing magic touch.

Here are a few tips:

Stay Local – Sure, a Vegas blow-out will be memorable, but is it necessary? No matter what the size of the meeting is, a local venue will save you and your attendees on travel costs. 

Be Flexible with the Date – When you think ‘Peak Season,’ also think ‘Expensive Season.’ Flexible dates can save thousands at venues that are desperate to fill their schedules during the slow season. In the Midwest or Northeast, the first quarter is usually a good time to get a deal. 

Skip the Big Hotel Chain – For all the advantages of a big hotel chain, there’s one ubiquitous problem – they don’t need you as much as the little guy. Smaller organizations see you as a bigger part of their revenue and, consequently, a higher priority than you would be at larger venues.

Go with a Buffet – Serving individual plates requires more staff to cook, plate and serve. You can easily cut your meal costs by double-digit percentages with a buffet. Not to mention, no one will complain about not getting enough to eat.

Remote Learning – Try cutting a day off your meeting with a periodic webinar. Attendees from disparate places could tune in for the cost of internet while you save on the cost of a venue.

Share the Cost – If you are holding a meeting or hosting a speaker that other organizations may benefit from, suggest splitting the cost and sharing access. Your group will end up getting the same content while paying significantly less.

Smart meeting planners are always thinking of a way to trim costs. It’s one of the hidden talents of the trade that can easily be overlooked on site but are never forgotten by executives. Have your own cost cutting tips and tricks? Please comment below!



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