Category: Finances

How Proven Event Pricing Strategies Can Boost Your Bottom Line

Pricing strategy may be as old as currency itself (although not nearly as old as bartering) – which has its origins around 600 B.C. in Turkey and China  – but since then it has been refined and researched to the point that it’s as much (social) science as it is art. Registration and ticket pricing ...

10 innovative ways to squeeze more from your event budget

Search the Internet for the phrase “event planning challenges” and you will find countless surveys and lists (like here and here) that name reduced event budgets or budget cuts as one of the top challenges facing event professionals every year. In fact, this is such a consistently recurring challenge and issue for meeting and event ...

Event Budget 2014 Study -Event Planners

Average event budget eclipses $20K; minimum budgets becoming more popular with event planners

According to a recent study conducted by Planning Pod, 69% of the 218 independent event planners who responded said that their average event budget exceeded $20,000 (U.S.). The events they planned ranged from small parties and weddings to meetings and corporate events. Among these respondents, 20% said that their average budget fell between $20K-$30K, 24% ...

Event Scope Creep - Event Management Tips

How to handle scope creep when managing events (and clients)

Nobody likes to talk about event scope creep even though more than half of all events go over budget. And we don’t like to talk about it because nobody likes to tell the client or the boss that things are going to cost more than anticipated, even if those costs are legitimate and were unanticipated ...

Don’t float (or finance) your clients’ weddings – An Event / Wedding Planner Business Tip

We’ve all had clients that say, “Oh, can you go ahead and pay for that and I’ll reimburse you?” And if it’s a $10 piece of decor or a $30 printing bill, it’s not such a huge deal. But when they start to ask us to float their $1,500 DJ bill, or their $6,000 venue ...