+ Strategic Events Planning at Pace University Session 2: Planning a Fabulous Event while Sticking to a Budget – Budgeting, Menu Planning, Cost-Effective Branding and Decor

+ Budgeting for an Event There are many factors that come into play when budgeting for your expenses associated with an event. There’s so much to include but only so much money to go around. Here are some tips on allocating, organizing, and keeping track of your budget for an event – while making sure you minimize costs and get the most bang for your buck!

+ Tips for Budgeting Avoid coming in right on budget. Try to maintain a little wiggle room for things that end up costing more or unexpected charges. Pad estimates. Add in a small percentage to all estimates to cover overages or other details such as delivery fees, tax, etc. Group your charges Group like charges in your budget. Set priorities for expenses. You should be more willing to spend on priority items and should find cost-effective solutions for non-priority items within your budget. Evaluate each set of expenses for ways to make expenditures more cost effective. Might there be a cheaper alternative? Call the experts to find out!!

+ Sample Budget for a one-day academic conference with a reception on NYC campus Catering is usually around half your budget. Group all like charges together. These are done by the different ways they are charged. Pad estimates to make sure that you leave room for delivery, shipping, etc charges. Update your budget once you have gotten confirmation the charge went through. You never want to come in right on budget. Leave room for unexpected costs.

+ Cost-Effective Solutions for Branding and Decor All of the details associated with an event can add up quickly and eat up important parts of your event budget. While many costs cannot be avoided by circumstance or priority when it comes to your event, there are many cost-effective measures which can achieve your strategic event goal while being budget-friendly. Try using seasonal décor. Mums, for example, will be cheaper than lilies once the weather turns cool. Use Ed Media to enhance your event in unexpected ways Project a Powerpoint slide as a custom banner during a lecture or play themed music while guests are settling in.

Request the use of a Pace Banner to spruce up the room and add branding for photographs. If you find yourself hosting many events where the same type of banner or signage could be beneficial, consider building the purchase into your larger budget to have for use at all events. Some examples include tablecloths, pop up banners, and directional posters. “Glamour Signs” are a great way to show off the faces of Pace “Directional Signs” can be planned out to help your guests get around and can add a cohesive element to the various spaces of your event.

Menu Cards on your table can add a touch of customization and flair to your lunch or dinner. Special Events has a vendor who can create menu cards with the colors of your event for $2.25 each. A more cost effective option is to get them created through Document Services. You have many options for creating invitations, posters, and programs for your event. Marketing and Communications is a full-service shop for beautiful event marketing materials. Document Services can also create simpler versions for your event for a more cost-effective price point.

+ Tips for Branding Your Event The overall idea is to visually mark your event with its Pace identity. Linens are a popular way to add a shot of color to your event. We typically recommend blue and gold linens. We have multiple Pace banners which can be hung at lectures and events. Many of our podiums have a Pace placard but putting the logo on namecards for panelists or marketing materials helps to make it a true Pace affair.

+ Catering Effectively and on Budget For a small event catering may be your entire budget for the event. Many large events have tight restrictions on what they would like to achieve with food versus how much money there is to spend. The goal of menu planning and budgeting for catering should be two-fold. You need to make sure that your menu works towards the goal of your event and you need to make sure that you are ordering properly to anticipate the group your event will attract – thereby minimizing waste – of money and food!

+ Tips for Effective Menu Planning Know your target audience. Students will typically respond better to a simpler, heartier fare. Many folks are leaning towards healthier food choices. Time of Day If doing a reception or dinner around meal times you may want to consider that your guests are more likely to be hungry and expect a meal. You may be able to forego the coffee in a dessert bar depending on the time of the evening, as while it is customary, many folks avoid caffeine at night. Breakfasts can be tricky, as many folks may eat before they leave the house. Evaluate the format of your event Will your event be greatly enhanced by food? If planning a dinner, might a more festive reception work? Know your group. Having a solid idea of how many people you expect is helpful. Consider an RSVP system to help you track attendees and get a better idea of how many to serve.

+ Cost-Effective Catering Options Think Substitutions Simple Menu Alterations Special Items Do you want a festive atmosphere on a tight budget? Instead of serving wine, consider a champagne punch. Cheaper and more festive – a fun option. Sick of the bulky plain hero bread in the Call Your Hero packages? Request plain breads instead for a new twist on the same lunch package. Want to do something different? Think seasonal and basic for a new twist on lunch or break options. The chill is setting in…have you thought of a soup bar? Lackmann has at least 4 different soups daily – with at least 1 vegetarian and vegan option! Thinking festive with students or an afternoon event? Try sparkling juices instead! These are a much cheaper way to enjoy a bubbly refreshment!

+ We hope to see you at the next workshop! Generate a Crowd: Tips and Methods for Successfully Marketing Your Events on Campus This February on Both Campuses!!