Tag: event planners

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Creating an Event Budget to Ensure Success

shutterstock_211973863Dear Friends and Colleagues,

Fundraisers and event planners know the important role budgets play when working with business and organization leaders. The event budget serves as a guide when hiring vendors, can serve as an effective negotiating tool and will help keep track of expenses. While this process can be layered, and usually requires several revisions, it cannot be minimized. Today I am sharing some insights into the expense budget planning process. I will discuss how the expense budget impacts fundraising goals in future posts.

Over the years, one technique I have found to be helpful is to group expenses into categories. This is a quick way to compare items from multiple vendors and make adjustments as needed.

THE VENUE
Selecting the perfect venue gives leaders an opportunity to impress donors and stakeholders. When reviewing options, comparing the cost of each venue is key. Here are some items to examine:

  1. Venue (Room rental fee)
  2. Venue (Room taxes)
  3. Venue (Additional set-up time)
  4. Reception (menu)
  5. Reception (beverages)
  6. Reception (premium bar service)
  7. Reception (limited bar service)
  8. Dinner (menu)
  9. Dinner (wine and beverages)
  10. Speciality Dessert
  11. Catering Service Charge (ranges from 18 to 21%)
  12. Food & Beverage Tax (waived for non-profits)
  13. Tasting Fee
  14. Additional insurance usually in effect the day of the event and for a few days after

SAVE-THE-DATE NOTICE, THE FUNDRAISING CAMPAIGN & INVITATION
Once the venue is confirmed, the next step is organizing the campaign for support. I realize we live in a time where e-mail and social media are heavily used, I have come to realize many corporations, foundations and donors require – and appreciate – written requests for support. Social media and e-mail outreach can be used as a follow-up to a written request.  Here are some items to include:

  1. Save-the-date card (designer fee)
  2. Save-the-date card (printer fee)
  3. Fundraising package (designer fee)
  4. Fundraising package (printer fee)
  5. Invitation package (designer fee)
  6. Invitation package (printer fee)
  7. Postage
  8. Messengers and/or overnight delivery
  9. Programs and journals to be distributed at the event (designer fee)
  10. Programs and journals to be distributed at the event (printer fee)

COORDINATING THE PARTS
As we know, large fundraisers involve many moving parts. For events with a 7-figure fundraising goal, and an attendee goal of 750 -800 guests or more, the organization’s mailing list will need to be in the thousands. Coordinating these items before they are mailed requires hours of preparation. If in-house resources are not available, hiring an outside vendor is critical. Here are some line items to include in the budget:

  1. Mailing list preparation (includes bad address removal and updates)
  2. Fundraising package preparation
  3. Invitation package preparation

CREATING THE VISION FOR THE EVENT
This is where leadership and the dinner team work with the event decorator to plan the look of the room, signature colors and the impression they want to make on donors and supporters. Here are some items to include in the decor budget:

  1. Linen
  2. Chairs
  3. Chair cushions
  4. Centerpieces
  5. Stage decor
  6. Step and repeat banner
  7. Speciality lighting package
  8. Speciality lighting (delivery, installation and breakdown)
  9. Fee for the delivery and pick up of all rental items
  10. Ropes and stanchions
  11. Pipes and Drapery
  12. Plants to use in key areas

THE PROGRAM
Once guests have been seated, its time for the show to begin. Think of how embarrassed the President or Board chair will be to learn his/her remarks can’t be heard? If a video is planned, the playback must be exceptional. Here are some items to include in your budget to ensure a professional presentation:

  1. Podium
  2. Wireless microphones
  3. Teleprompters
  4. Video screens
  5. Video recorders
  6. Audio-visual technicians
  7. Video playback units
  8. Program producer
  9. Floor manager
  10. Floor assistants
  11. Entertainment/Musicians
  12. Entertainment/Instruments
  13. Professional photographer
  14. Stage construction

A FEW ADDITIONAL IMPORTANT ITEMS
From special gifts of appreciation to honorees and guests, to saying thank you to dinner chairs and key staff members, planning for these items early in the process will ensure no one is overlooked. Here are some items to add to this category:

  1. Gifts and giveaways for guests
  2. Special awards for honorees
  3. Honorarium for emcee and keynote speakers
  4. Transportation for emcee and keynote speakers and other VIPs
  5. Transportation incurred for key staff participating in monthly planning meetings
  6. Hotel accommodations for emcee, keynote speakers and other VIPs
  7. Thank you gifts for dinner chairs, volunteers and key staff members who worked on the event
  8. Refreshments provided at monthly planning meetings
  9. Miscellaneous office supplies
  10. Delivery costs to send items to the venue on the day of the event

MANAGING ALL OF THE DETAILS
As my colleagues will attest, planning a fundraiser of this size requires great skill and coordination. Many organizations will look to a professional event planner to ensure the careful management and execution of details. Here are fees you should incorporate into your budget:

  1. Event planner fee
  2. Event planner overhead/administrative costs
  3. Event planner out-of-pocket expenses

Thank you for spending a few moments out of your day with me. I hope today’s post has been helpful to you. If I can be of assistance, please contact me at Monique@Eventstrategies4success.com.

With kind regards,

Monique

 

 

 

 

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Obtaining Clarity Around Your Vision

©Shutterstock
©Shutterstock

Dear Friends and Colleagues:

It is no secret that we, as event planners, find parties and gatherings to be exciting.  This is one of the main reasons why we work such long hours; frequently allowing event-related plans to permeate our weekends and holidays.  We have seen how excited guests are at the chance to come together and celebrate an organization they truly believe in.

When working with organization leaders who are new to this field, we must be mindful for they have so much new information to process as they continue to manage their day-to-day operations.  Before you can confidently say to your client “Let’s Begin” you will have spent countless hours setting an attainable goal.

Several questions will come up at the outset.  However with perseverance and cooperation, from leaders and stakeholders, your next steps will be clear.  Here is one idea to start the conversation.

SAMPLE GOAL

Our organization is looking to raise funds for our mission and program.  Our annual gala, with a fundraising goal of $xxx is critical to our success.  Through this event (and event-related outreach efforts), we will look to engage our existing donor base, and recruit new donors.

HOW WILL YOU MEASURE SUCCESS?  HERE ARE SOME WAYS TO CONSIDER.

  • Our organization would like to raise $xx from xx number of individuals and xx number of corporate sponsors.
  • We would like to see xx% or our top organizational donors attend the event.
  • We would also like to see last year’s event donors increase their giving by xx% this year.
  • Lastly, we would like to see xx% of the guests commit to an additional gift the day (or night) of the event.

With a clearly defined goal, you can guide your organization forward with confidence and purpose.  There will be many challenges along the way, but there is nothing more rewarding than moving past challenges with demonstrated successes.  Remember, this is why we do what we do!

Lastly, we love success stories and would appreciate hearing from you.  Please take a moment and let us know what you think.

Happy Planning.

Monique

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3 Important Questions To Ask When Planning An Event

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©Shutterstock

Dear Friends and Colleagues:

When speaking with my fellow special event planners, we frequently comment on how this profession has grown.

One decade ago, events were fairly predictable.  At certain points during the calendar year, plans for an organization’s traditional event season would begin. Conversations would focus on upcoming board meetings, annual convention(s) or trade show(s), employee appreciation events and business meetings.  In-house event planning teams, and the consultants engaged to provide assistance, would move at a fast pace to keep up with the various projects.

Today the landscape has expanded to include events that are more complex and require greater planning, such as: corporate galas and non-profit fundraising dinners, naming opportunities, client and donor cultivation events, product launches and travel incentive programs.  For some professionals, the additional activity can be most exciting.  However, for professionals who do not have the resources to lighten the workload, the additional tasks can be most stressful.

Yet, in the midst of this excitement, every event planner must obtain the answers to 3 very important questions.  

1. What are your organization’s event objectives?

  • In other words, why are you hosting this event?
  • Are you looking to raise awareness for your organization and brand?
  • Are you looking to raise much-needed funds for your organization’s mission and programs?
  • Are you looking to engage new donors and reconnect with former donors?
  • Are you comfortable with your immediate and short-term goals?
  • Are you clear on what success and failure looks like for your organization at this point in our history?

2. Can your organization afford to host this event?

  • Do you have the money required to achieve the results that you want?
  • Will your budget allow you to reflect the image you are trying to project?
  • Would you consider enlisting sponsors for your event?
  • If so, have you formed any strategic alliances that we can approach?

3. What is your vision for this event?

  • Have you given thought to the different elements of the event?
  • What items are on your “must-have” list?
  • Do you have a specific location in mind?
  • What mood are you trying to create?
  • What feelings are you trying to capture?

We will explore these questions more fully in future posts.  As you begin to contemplate your next event, I wanted to start the discussion with these 3 key questions.  If taken seriously, the answers will inform your business discussions for weeks to come.

Sending you good wishes.

Monique

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Credits:
Event Planning: The Ultimate Guide to Successful Meetings, Corporate Events, Fundraising Galas, Conferences and Conventions, Incentives and Other Special Events by Judy Allen.