November 8, 2022

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You can’t watch the news or open your phone without seeing headlines about the US and global economy’s rocky state. We’ve rounded the bend with the pandemic, but we’re being told to buckle up for another bumpy road. ?

? Inflation, staffing shortages, rising gas prices, and supply-chain issues all mean fiscal uncertainty looms over event planners making plans for 2023. Planners must increase budgets for things like travel and food, and build extra time to secure vendors/staffing.

So, what can planners do to meet post-pandemic, in-person meeting expectations without busting budgets? If in-person meetings are the best solution, identify areas you must spend money on to make the experience worthwhile and reduce expenses elsewhere. Early on, set clear expectations with vendors and jointly identify cost-cutting opportunities that won’t sacrifice quality. And continue to evaluate whether content can be delivered virtually, as effectively as in-person. ?

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? Design one-day meetings around meals. Ending before or starting after lunch saves money.
? For no-frills meetings, explore venues near airports to save on transportation costs.
? Explore mobile apps that minimize the need for print materials and signage.
? Ask sponsors to help support the “extras” (entertainment, décor, gifts, etc.).
? If your event is in a walkable city, consider smaller dine-around at venues close to the hotel to eliminate transportation costs.
? Schedule smaller, regional events based on where your attendees live to minimize travel costs.

Are you feeling the pinch when it comes to 2023 event plans? Share your experience in the ????????.?