Small companies and small business need a lot of publicity for it to become a success. The publicity can be from the peers and the consumers. Whatever the business be like, it only works when people know about it. The best way to promote a business or a company is through promotional events. The event can be anything from a business dinner to the launch party or a musical event. You need a huge budget to host a promotional event. Now with new businesses coming up and startups being set everywhere, the budget becomes one of the key issues.
There are a few tricks and tips that can be applied by these small companies to host promotional events even on a very low budget. Find simpler and free alternatives to the things that otherwise cost a lot of money.
Follow these steps to host a promotional event for small companies on a budget:
Decide the budget
The first step is to decide the budget. Deciding the budget not only means that whole amount of money that needs to be spent on the event needs to be decided. Make a detailed budget. Every activity that has to take place in the event like decorations, food, games, gifts and much more has its own budget. Divide the large budget into smaller chunks and leave no activity underfinanced. Since we are discussing the small companies, the budget is usually very low. Try and cut costs as much as possible. This leads to the second step, planning.
Make a plan
The second step is planning. Make a detailed plan of what the event has to be like. For example, make a list of the caterers, venue, activities etc beforehand. Plan ahead of time, at least a month before the event is to take place. This gives you enough time to go through various options and cut the cost in some ways or another. A plan is also important to set aside a budget for every activity. This will help determine how much can be spent on each activity and what other things can be added.
Make the plan flexible. No plan goes as per expectations, so you should be ready to make small changes as the time proceeds. Although keep the keep the budget the way it is. Make a proper guest list of the attendees and book the venue according to it.
Know the people that will attend the event and make the arrangements accordingly. Each type of crowd has its own priorities and each event has its own theme. So, do the planning accordingly.
Choose a venue to host
Next big thing that costs a lot of money is the venue. Choosing a good yet budget friendly venue can make a lot of difference in the event as well as the cost of the total event. Keep in mind a few things while venue browsing. First is the number of attendees and second is the type or event. If the attendees are in huge numbers, outdoor spaces can be used. If the attendees are limited, one if the following options can be preferred:
- Your own space- The best place to host an event for free is your own space. It can be your office space of the backyard of your house. This will totally cut the cost of a venue.
- Somebody else’s space- If you are a startup struggling to get a big office space, try and ask your friends for a space to host your event. Make sure to hand back the place in the same condition as before. This is another way to totally cut the cost of the event.
- Public spaces- Host an event at the community halls or school gymnasiums or any government run community halls. Save money and rent these places for minimum amounts.
- Coworking spaces- Coworking spaces is a fairly new concept but works incredibly well for the small events. Coworking spaces are the spaces that the people who want to work in an office like environment but not an actual office on a temporary basis. These spaces have rooms, especially for meetings and events. The cost is very low and would save a lot of money.
If the there is no set list of attendees, book outdoor spaces. Never go for conventional places because they are costlier. Rather look for a place that can fit the crowd and cost you way lesser.
Use social media
Social media is one free tool in our hand that can be used to send invites as well as promotes the event. Create an invitation card describing everything the event has to be about and send it through email to the attendees. In addition to this, make a social media page about our event and let people register for it. This will greatly reduce the cost of printing and send out invitations. Use social media to the fullest for promotions.
Although, do not forget to send printed invites to the VIP guests.
Do it yourself
Another way to cut the cost of planning is to do it yourself. If you have a small team, divide the work amongst every member. Spending money on planners can cost a lot of money. Supervise and take care of everything according to the plan. Use the extra money to provide better services for the attendees.
Look for sponsorship and partners to host
Sponsorship is another way to host an event with a low budget. Try and partner with big companies that can finance you. This has two advantages. The first one is that it will cut cost and the second one is that their customers will become your potential customers.
Various NGOs are always looking for sponsors. Since a tight budget can not let you sponsor them monetarily but host the event with them can give them publicity. This is beneficial for the company in a lot of ways. NGOs usually have their working space, use that as a venue. Ask the volunteers to help plan the event and much more. This also associates the company with social work, which is always helpful for the publicity and building customer base.