Step 2: Budget

Set your budgetOne of the most important things to decide at the outset is how much you want to spend on the event. From this you can determine the style of your event, the speaker, the location, the refreshments and the number of delegates that you can afford.

If you haven't run this type of event before, build in a contingency fund as well for the unexpected.

Major cost items will probably be:

  • venue
  • speaker
  • refreshments
  • pre and post-event marketing.

Can you involve a sponsor to share the costs? What could you offer them in terms of highlighting their product or service? How much could they contribute in return for this?

Don't forget as part of the evaluation process after the event, to look at the expenditure and calculate the cost of the event versus the return from new business to find out whether it is worthwhile running a similar event again. However, do remember to factor in that an event aimed at raising awareness of your organisation; its products or services will not produce results in terms of sales until much later on.

<< Step 1: Define your objectives Step 2: Budgeting Step 3: Getting your content right >>

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