Money-saving magic: Budget tips for online and hybrid events (Part 2)
Organising an online or hybrid event doesn't have to break the bank. With a sprinkle of creativity and some froggy wisdom, you can deliver a fantastic experience without draining your budget.
In this article, we'll share some practical tips to help you save money and cut costs while still creating a memorable event. So, let's dive in!
1) Utilise social media and organic marketing: Leverage the power of social media and organic marketing to promote your event without relying heavily on paid advertising. Engage with your audience, create compelling content, be strategic about your posting times and encourage attendees to share their excitement, thus expanding your reach organically.
2) Explore virtual partnerships or collaborations: Why go solo when you can have a dynamic duo? Collaborate with like-minded organisations or industry partners to co-host or promote your event. This way, you'll share resources, broaden your audience and reduce costs all at once.
3) Embrace a lean approach: Simplicity is the lily pad for budget success. Ditch the extravagant frills and ask yourself, do you really need 3 concurrent main stages competing for attention? Perhaps offering a choice of two breakout sessions instead of four is the way to go. Remember, keeping it simple reduces choice overload – a win-win for both you and your attendees!
4) Optimise virtual event duration: Keep it short, sweet and impactful! Consider condensing your event to deliver maximum value without straining your resources. Post-pandemic, attendees prefer events that pack a punch rather than having to stick around for a virtual event stretched out over several days. Condense content and sessions to serve up concentrated value. This way, participants get the most out of their time, and you get more bang for your budgetary buck!
5) Consider hybrid event venues strategically: When planning a hybrid event, carefully select the physical venue to minimise costs. Look for spots that offer affordable rental rates, solid tech infrastructure (esp. Wi-Fi!) and maybe even an in-house AV team. Some venues will also throw in complementary services! If you can, negotiate flexible contracts that allow you to scale up or down based on attendee registrations.
6) Explore revenue-generating opportunities: Identify opportunities to generate revenue during your event to offset costs. This could include offering premium access or paid upgrades, partnering with vendors for revenue sharing or hosting virtual marketplaces.
7) Repurpose content: Don't let that valuable content go to waste! Repackage recordings and presentations for future use. This not only extends the value of your investment but also provides opportunities for post-event marketing, training or on-demand content. For instance, if you organised a paid event, you could offer the recordings at a discounted rate for people who didn’t attend.
As you embark on your next online or hybrid event journey, remember that saving money and getting more value is possible while maintaining a high quality for your event.
Didn't catch our earlier article packed with even more tips for budget-friendly online and hybrid event planning? No worries! You can give it a read right here.
Remember, creating a memorable event doesn't have to mean emptying your wallet. At Frog Events, we're here to support you every step of the way. Contact us today and let's make your next event one for the ages, all while keeping those costs in check.
And for more event-related tips and industry trends, hop on over to our social media page!
Start planning your next event with Frog Events and unlock the full potential of your budget. 🐸💡🎉
